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.
Alhammadi, Y., Algahtany, M., Kashiwagi, D., Sullivan, K., & Kashiwagi, J. (2016). The Current State of Research and Development Approach (R&D) in the Saudi Construction Industry. Procedia Engineering, 145, 1462-1469. http://dx.doi.org/10.1016/j.proeng.2016.04.184
BiznesPolska. (2016). 4th annual CEE Shared Services and Outsourcing Awards Gala and Summit. Winners. Retrieved from http://ceeoutsourcingawards.com/2016/winners.html
Colliers International. (2015). Real Estate Market Overview. Annual Report. Latvia. Lithuania. Estonia. Retrieved from http://www.colliers.com/lv-lv/latvia/insights/research-the-market
Colliers International. (2016). Real Estate Market Overview. Annual Review. Latvia. Lithuania. Estonia. Retrieved from http://www.colliers.com/-/media/files/emea/latvia/research/2016/real_estate_market_overview_2016_for_web_final.pdf
Brett, L. D., & Schmitz, A. (2005). Real estate market analysis. Methods and Case Studies, Second Edition. USA, Washington DC: Urban Land Institute.
Giang, T. H. D., & Pheng S. L. (2011). Role of construction in economic development: Review of key concepts in the past 40 years. Habitat International, 35, 118-125. http://dx.doi.org/10.1016/j.habitatint.2010.06.003
Invest Lithuania. (2014). Our competence to Your business. Retrieved from http://www.investlithuania.com/wp-content/uploads/2014/03/Nemunas-Valley_Lithuania.pdf
Invest Lithuania. (2016a). Our services. Retrieved from http://www.investlithuania.com/infostop/our-services/
Invest Lithuania. (2016b). Invest Lithuania breaks all records with dramatic jump in investment in 2015. Retrieved from http://www.investlithuania.com/news/invest-lithuania-breaks-allrecords-with-dramatic-jump-in-investment-in-2015/
Invest Lithuania. (2016c). Stories to share. Retrieved from http://www.investlithuania.com/storiesto-share/
Invest Lithuania. (2016d). Vilnius leading the Baltic region for investor attraction. Retrieved from http://www.investlithuania.com/news/vilnius-leading-the-baltic-region-for-investor-attraction/
Invest Lithuania. (2016e). Special economic zones. Retrieved from http://www.investlithuania.com/business-locations-projects/#zones
Jowsey, E. (2015). Real estate concepts. A handbook. Canada: Routledge.
Maznah Mat Isa C., Mohd Saman H., & Rahidad Mohd Nasir S. (2014). Specific-factors influencing market selection decision by Malaysian construction firms into international market. Procedia - Social and Behavioral Sciences, 129, 4-10. http://dx.doi.org/10.1016/j.sbspro.2014.03.641
Nalivaikiene, L. (2015). The performance of state territorial planning and construction inspectorate under the Ministry of environment of the Republic of Lithuania (November 27, 2015). Retrieved from http://kvalitatebuvnieciba.lv/wp-content/uploads/sites/14/2015/11/Current-Issues-in-Construction-in-Lithuania_Laura_Nalivaikiene27nov2015.pdf
Newsec. (2015). Baltic property Market report 2015. Retrevied from http://www.newsec.lv/parskati_newsec/baltic-property-market-report-2015-2/
OECD. (2015). Regulatory Policy in Lithuania. Focusing on the Delivery Side. Paris: OECD Publishing. http://dx.doi.org/10.1787/9789264239340-en
Thermo Fisher Scientific. (2012). Thermo Fisher Scientific Opens Molecular Biology Center of Excellence in Lithuania. Retrieved from http://news.thermofisher.com/pressrelease/corporate/thermo-fisher-scientific-opens-molecular-biology-center-excellencelithuania
Toivonen, S., & Viitanen, K. (2015). Forces of change shaping the future commercial real estate market in the Helsinki Metropolitan Area in Finland. Land Use Policy, 42, 471-478. http://dx.doi.org/10.1016/j.landusepol.2014.09.004
Toivonen, S., & Viitanen, K. (2016). Environmental scanning and futures wheels as tools to analyze the possible future themes of the commercial real estate market. Land Use Policy, 52, 51-61. http://dx.doi.org/10.1016/j.landusepol.2015.12.011
Vastint. (2015). IT Unit of Danske Bank to set up in UNIQ Business Centre. Retrieved from http://vastint.eu/lt/record-breaking-transaction-it-unit-of-danske-bank-to-set-up-in-uniqbusiness-centre/
Wofford, E. L., & Clauretie, M. T. (1992). Real Estate. (3rd ed.). Canada: John Wiley & Sons Inc.
World Bank Group. (2014). Doing Business 2014. Understanding regulations for Small and Medium-Size Enterprises. Retrieved from http://www.doingbusiness.org/~/media/GIAWB/Doing%20Business/Documents/Annual-Reports/English/DB14-Full-Report.pdf
World Bank Group. (2015). Doing Business 2015. Going Beyond Efficiency. Retrieved from http://www.doingbusiness.org/~/media/GIAWB/Doing%20Business/Documents/Annual-Reports/English/DB15-Full-Report.pdf
World Economic Forum. (2016). Competitiveness Rankings 2015-2016. Retrieved from http://reports.weforum.org/global-competitiveness-report-2015-2016/competitivenessrankings/