There is a shortage of new and energy efficient lease space on the market
Clients looking for commercial space should be aware that the amount of space coming onto the lease market in the near future is decreasing as some developers have postponed the start of new projects indefinitely. As the price of raw materials, interest rates and labour costs have peaked in the past couple of years, a fall in rental prices cannot be predicted, say sales managers at property developer Favorte.
More and more companies are realising that it makes no sense to keep production or storage facilities in depreciated premises with high heating costs. Particularly now, when companies are starting to follow the principles of sustainability, and by moving to a new location, they can save up to 2-3 times on ancillary costs. In addition, as talented young people entering the labour market appreciate a modern and clean working environment, it is difficult to attract young people to work in outdated premises.
According to Tarmo Rammo, sales manager at Favorte, renting stock-office type premises in Estonia has proven to be viable and many companies have moved their operations under one roof. Technology parks along the major highways entering the city are ideal places to bring production, warehouse and office all under one roof.
To find out more about the savings stock-office can bring to a company and how smart technological solutions can keep costs under control, listen to Äripäev radio’s programme “Kõik ärikinnisvarast”
In the programme, Favorte’s sales managers Ivo Tammearu and Tarmo Rammo will share their thoughts on energy-saving solutions and whether tenants and developers are on the same page when it comes to commercial property. The programme is hosted by Juuli Nemvalts.
Listen on Äripäev’s website: https://www.aripaev.ee/saated/2024/04/09/uut-ja-energiatohusat-uuripinda-turul-napib
