From time to time, Riga is often equated with a baran with swollen edges, but an empty middle. In recent years, people have left the center, and the first floors of many buildings also show that they are choosing other places for business development. How does the pandemic and restrictions on shopping centers change the view of shopkeepers in this part of Riga?
Before answering this question, it should be recalled that since April 7 this year, all stores outside the large shopping centers have resumed on-site operation, while shopping centers are trying to organize outdoor sales and call on the government to reconsider this decision.
The fourth part – empty
Even before the second wave of Covid-19 and the subsequent restrictions, the real estate company “Colliers” conducted a study on the availability and filling of commercial space right in the center of Riga. On the first floors of the buildings in the center and its periphery there is a total of about 445 thousand m2 of leasable area. About 108 thousand square meters (or almost a quarter) were empty and available last autumn, but 53.8 thousand square meters of commercial space was actively offered for rent from these premises.
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