•The Lithuanian economy has observed strong growth in 2017. This growth mainly reflects the improving global economic environment.
•Increases in private consumption, commodity prices and taxation have caused higher headline inflation in the country.
•There was a single modern office delivery in 4Q, yet a productive 2017 resulted in a solid y-o-y stock increase of 77,000 sq m or 13.2%.
•In 2018, supply is expected to slow down with seven upcoming projects and approximately 48,100 sq m of new floor space.
•Take-up, which was led by international shared service centres, amounted to 14,900 sq m.
•The vacancy rate marginally decreased and is expected to decline further until 2019.
•Prime A class office rents are currently at 14 – 16.5 EUR and B class at 9 – 13.5 EUR. The levels of rent are expected to increase as a result of more expensive projects in the pipeline.