Vilnius Office Market, 2022 Q1 | Newsec

Vilnius Office Market, 2022 Q1

HIGH DEMAND FOR CLASS A OFFICES IN VILNIUS OFFICE MARKET

Take-up in the first quarter of the year was 30,300 sqm. About 70% of the total leased space was in the class A segment.

KEY INSIGHTS

  • The overall level of vacancy in the market fell from 7.8% to 6.8% in the first quarter, while the vacancy rate in class A offices fell even more – from 3.4% to 2.2%.
  • Two business centers in Vilnius were completed and opened their doors to tenants in the first quarter – the Girteka Park and the first CORE building added about 19,000 sqm of office space to the market.


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