Kaunas office market offers a perfect opportunity for small-scale busines service centres
Newsec Kaunas Office Market Outlook provides a unique opportunity to follow the Kaunas office market development. The report presents the latest market trends and forecasts, office rental rates and changes, outlook of current new office projects and their developers. The report includes a map of the Kaunas office market with the main office development zones.
KEY INSIGHT
- The city of Kaunas has been recognised internationally for recent advances. One of its latest honours was being ranked by The Financial Times’ fDi Intelligence as No. 2 for FDI Strategy 2020/21 in the category of Small Regions of the European Future. The business ecosystem that the city is developing offers every opportunity for Kaunas to become a hub for smaller service centres.
- In H1 2020, the Kaunas office market saw the launch of three new office projects that added 26,800 sqm of leasable space to the supply. Last year, in 2019, supply on the Kaunas market grew by a record amount as office tenants were offered an additional 46,000 sqm.
- The overall vacancy rate at the end of Q1 was 17.2%, up from 12.3%. At properties already built and operating, a total of more than 44,000 sqm of space was free and for lease.