Positive influencing factors of commercial property development: case of Lithuania

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.