The Baltic commercial real estate market closed 2025 with improving investment momentum. Total investment volumes reached €891M in 2025, including €263M in Q4, with retail remaining the dominant sector while industrial and logistics assets continued to gain investor interest. Prime yields stand at 6.75% for offices, 7.50% for shopping centres, and 7.00% for logistics assets.
Across the Baltic capitals, the office market remained stable, with prime rents at €20.5/sqm/month in Vilnius, €20 in Riga, and €24 in Tallinn, while vacancy rates stood at 7.6%, 11.8%, and 8.7% respectively.
The retail sector continues to expand in convenience-led formats, with prime shopping centre rents at €48–55/sqm/month, while the industrial market remains supported by structural demand, with vacancy around 4–6% and approximately 400,000 sqm under construction across the Baltics.
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