The considerably high vacancy rate in the Kaunas office market is an excellent opportunity for tenants
Foreign investors have recognized Kaunas for the recent progress in developing its investment environment. The business ecosystem the city is building offers every opportunity for Kaunas to become a hub for smaller business service centres and a well-suited place for start-ups.
Tenants with ambitious hiring plans turn to the city of Kaunas because of its ample workforce and a vast supply of available office space. Immediate relocation availability and flexible leasing solutions in terms of area and leasing period are the selling points of the Kaunas office market.
- At the end of 2020, the modern office space market in Kaunas stood at about 256,800 sqm.
- The leaseable area grew by 12% in the first half but did not increase in the second half of 2020.
- The total office stock has almost doubled over the last 4 years.
- With several new deals in the second half of the year, the leasing activity level was 65% higher than H1 2020.
- The considerably high vacancy rate in the market is an excellent opportunity for tenants to discover Kaunas or expand in the city’s office market.