A research produced by DTZ
Although the impact of the crisis in the EU was one of the greatest in the Baltic countries, the retail trade turnover has re-bounced quite rapidly. Consumer confidence has strengthened and private consumption has continuously expanded during 2012 and H1 2013, and is expected to do so in the near future.
The polarization between primary and secondary retail schemes is still evident across the region; while the first group enjoys natural vacancy rates and optimizes on its tenant mixes, the second group is exploiting windows of opportunity for improving their occupancy rates.
Several large-scale retail projects are in the pipeline for the upcoming years; some of them have the construction process already initiated. These are expected to exhibit additional pressure on secondary schemes.
Several investment transactions were completed in H1 2013. The retail properties are also attractive in secondary cities. Given that substantial proportion of retail premises are still owned by occupiers, the region offers good sale-lease back investment opportunities in the upcoming years.
Source : DTZ (Groupe UGL)