Abstract
Abstract Presently the conditions for the commercial property development in Lithuania are favourable. The market indicators are demonstrating positive tendencies. Many international companies are entering the Lithuanian markets because of the supportive governmental instruments of competitive policy for these international companies. There is high demand for the commercial premises, and the respective governmental authorities are regularly improving the construction procedures. These are the factors, which are affecting the commercial property development activities in Lithuania. The aim of this paper is to highlight the factors, which are positively affecting the commercial property development in Lithuania. The key market indicators, supportive instruments for international companies and improvements of the construction procedures in Lithuania are reviewed by the authors, with prime focus on the capital of Lithuania − Vilnius. This paper is intended as guidance to the developers, who are entering the Lithuanian commercial property market.
Highlights
One of the most important preliminary phases of project development is market analysis
The key market indicators, supportive instruments for international companies and improvements of the construction procedures in Lithuania are reviewed by the authors, with prime focus on the capital of Lithuania − Vilnius
This paper is intended as guidance to the developers, who are entering the Lithuanian commercial property market
Summary
One of the most important preliminary phases of project development is market analysis. Toivonen and Viitanen (2015) analysed the forces of shaping of future commercial property market Many important indicators, such as demand, supply, vacancy rates, absorption volume, proposed projects, as well as economic indicators and legal and tax matters are being included in the regular property market overviews of the leading property companies (like “CBRE”, “Colliers International”, “Newsec”). These overviews are useful for understanding of many property markets, including the Lithuanian market (Colliers International, 2016). All these factors are significant for local Lithuanian developers as well as for international companies, international construction companies and international developers, which are entering the Lithuanian market
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