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CBRE launches benchmark investment guide for EMEA

  • Latvia

    15-11-2016

    Global real estate advisor, CBRE, has launched its first ever EMEA Investment Guide, providing an overview of the commercial real estate market in 36 countries. The information regarding all Baltic capitals was prepared in conjunction with the global elite law firm Eversheds.

    Jonathan Hull, Head of EMEA Investment Properties at CBRE comments: “The EMEA Investment Guide 2016 is the definitive introduction to investing in commercial property in Europe, the Middle East and Africa. It explores the terms of buying, selling and leasing commercial property in 36 countries across the region.”

    The report, which covers 36 markets in Europe, the Middle East and Africa, is a benchmark document which outlines both the economic and real estate fundamentals of different countries across the region. The report highlights key market strengths in each country as well as prominent investor groups, most desirable assets and a detailed overview of the land, taxation and legal obligations required in each country. The comprehensive guide is the first of its kind and will provide real estate investors with the critical information they need when considering property acquisitions across the region.

    Vineta Vigupe, Director of Baltic Region Research and Consultancy at CBRE comments: "For the first time CBRE has compiled a comprehensive and meaningful information document for investors, who are interested in the EMEA, CEE and Baltic regions, providing insight into the economic situation and outlining the legal environment in each country. Investors who are interested in the Baltic region and are attracted by the stable economic situation and attractive yields can get a basic understanding for each country in respect of the economic and property fundamentals that underpin real estate investment.  The Guide offers an overview of the land system, foreign investment policies and the property taxes associated with buying, selling and owning commercial property. We believe this information will help international and local investors in the decision making process and will focus attention on the Baltic region as a stable environment for investment.”

    According to the CBRE Guide, offices are the most popular investment choice amongst the investors in 21 of the 36 states. In the Baltic States offices and shopping centres in the capital cities are the most popular targets.

    The information regarding all Baltic capitals was prepared in conjunction with Eversheds.

    Eversheds Bitāns Law Office partner Ģirts Rūda comments: “it is good to see the Baltic States among the markets that continue to be the most popular in EMEA region.”
    According to the CBRE guide, offices is the most popular investment choice amongst the investors in 21 of the 36 states. In the Baltic States offices and shopping centres in the capital cities are the most popular targets.
    Ģirts further emphasizes : “It is remarkable to see that the Baltic States are highly valued for transparency and legal protection issue, but as smaller markets we are lacking investment liquidity. In Latvia there is still a room for improvement on investment protection issues, like creditor protection during bankruptcy proceedings, and co-operation between the state and real estate market players could be improved.”

    Eversheds Saladžius Law Office partner Rimtis Puišys comments: „Lithuania is highly rated for quality talent pool, ease of starting business as well as attractive ratio between wage and productivity, among other things. There is a room for improvement as well, including facilitation of business funding opportunities, accelerating the assimilation of EU structural funds, reducing administrative burden, including the introduction and use of innovative e-solutions.”

    Eversheds Ots & Co Law Office partner Randu Riiberg comments: “The yields are still more attractive than they are in Central Europe or Scandinavia. Therefore, we see investors increasing interest in the market. When it comes to improving the attractiveness, then main problem is small size of the market (if you look at each Baltic country separately). Positive change is rather driven by market participants, who deal with the Baltics as one region regardless of the fact that there are 3 different jurisdictions. This change is supported among others by advisors and fund managers who have established pan-Baltic activities that allow to unify the Baltic market to level which makes Baltics as whole more interesting than Estonia, Latvia and Lithuania would be separately for investors from elsewhere. “

    A link to the full report can be found here.

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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