Commercial asking rents down by a third in a year
10.02.2010, 14:52Average offer price for renting commercial premises had fallen to 75 kroon per square metre by February 10. In Tallinn, average asking rent has fallen by 37% from 126 kroons to 80 kroons, according to City24.ee.
Average annual fall in asking rent was 24% in Tartu from 106 kroons to 81, 24% in Pärnu from 83 kroons to 63.
The biggest fall was registered in Narva (55%) from 130 kroons to 58.
Last week BBN quoted a January market overview of Colliers International which said that in 2010 the average rental price will probably still somewhat decrease at the expense of older vacant premises and newer problematic premises, but will most likely more or less stabilize by the end of the year. The average selling price will continue its downward trend as most of the asking prices still have “air” in them.