Owner of Ober-Haus changing

Ober-Haus, the real estate services company in the Baltic countries, has been acquired by Kiinteistömaailma, a Finnish real estate company. Since 2007, Ober-Haus has been part of Realia Group, a leader in the Finnish real estate market. Following the change in company ownership, Tarmo Kase, general manager of Ober-Haus, and the remaining leadership of the company will continue their functions in the company.

Kiinteistömaailma seeks to expand operations and grow internationally. Ober-Haus is the main player in the Baltic real estate market and this leader position is the result of the targeted approach taken by the previous owners. Ober-Haus will complement the Kiinteistömaailma Group with its high quality knowledge-based real estate brokerage and valuation services,” Risto Kyhälä, general manager of Kiinteistömaailma, added.

“The deal with Realia Group is part of a strategy to focus on business development in the countries of Northern Europe by making use of the available strong market position in Finland. I am delighted that we have found good owners for Ober-Haus who will continue to strengthen corporate operations in the Baltic countries. I would also like to thank Tarmo Kase, general manager of Ober-Haus, for his contribution to the long-term development of the company,” Kari Virta, general manager of Realia Group, said.

Ober-Haus provides a wide range of real estate services in Lithuania and the Baltic region. The company opened its first office in Tallinn in 1994. Today Ober-Haus has 19 representative offices in the main cities of Lithuania, Latvia and Estonia with over 220 employees.

Realia Group is the biggest real estate group of companies in the Nordic countries. Realia Group owns Realia Isännöinti, Realia Management, Huoneistokeskus, Huom! Huoneistomarkkinointi in Finland, and Hestia – in Sweden. The Realia Group has over 1,800 experts; its annual turnover amounts to EUR 130 million.

Set up in 1990 Kiinteistömaailm is the broadest network of Finnish real estate agencies with almost 100 offices. The company offers consultancy and brokerage services in the residential housing and commercial real estate segments. Presently Kiinteistömaailma has more than 600 real estate experts. General turnover of the offices stands at EUR 70 million annually.

Latest news

All news
Ober-Haus Celebrates 25 Years: How Has the Property Market Changed in a Quarter of a Century?
2023-11-07

Ober-Haus Celebrates 25 Years: How Has the Property Market Changed in a Quarter of a Century?

In 1998, the Lithuanian real estate market was characterised by a lack of housing, poor credit conditions and an underdeveloped commercial real estate sector. Over the last 25 years, the number of apartments for sale has increased more than 10-fold, housing market activity has almost quadrupled, lending rates have fallen from double to single digits, and modern office buildings and shopping malls are now numbering in the hundreds – that’s the picture according to the Ober-Haus Real Estate Market Review 1998–2023, conducted to celebrate the company’s 25th anniversary. The Year 2000 Marked the Beginning of the Creation of the Lithuanian Real Estate Market The years 1998–2000 can be considered as the period when the real estate sector in Lithuania began to evolve. Due to the absence of credit services, the Lithuanian population was mostly only able to purchase a home using their own funds, and commercial construction with the intention to sell or lease was in its infancy. And so, 25 years ago, investors were developing single apartment blocks, business/office assets and shopping centres, where any new development for sale or rent was regarded as a significant event in the real estate market. The Russian economic crisis, which began in…

Buyers Show No Interest in Overpriced Housing
2023-10-24

Buyers Show No Interest in Overpriced Housing

The Ober-Haus Apartment Price Index for Lithuania (OHBI), which captures changes in apartment prices in the five largest Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), remained unchanged in September 2023 (August 2023 figures had shown 0.4% growth). The overall level of apartment prices in Lithuania’s major cities grew by 2.6% over the last 12 months (an annual growth of 4.9% in August 2023). In September 2023, Klaipėda, Šiauliai and Panevėžys recorded 0.2%, 0.3% and 0.4% growth respectively, and the average price per square metre rose to EUR 1,613 (+3 €/m²), EUR 1,103 (+3 €/m²) and EUR 1,078 (+4 €/m²). Meanwhile, in Vilnius and Kaunas, the average price per square metre decreased by 0.1% month-on-month to 2.568 Eur (-3 €/m²) and 1.724 Eur (-2 €/m²) respectively. Over the year (September 2023 as compared to September 2022), apartment prices grew in all major cities of the country: in Vilnius – by 2.6%, in Kaunas – by 3.2%, in Klaipėda – by 1.6%, in Šiauliai – by 3.7%, and in Panevėžys – by 2.5%. The stagnation period in the Lithuanian housing market continues. Although the market activity indicators do not show any signs of improvement, the majority of home sellers have not…

Office sublease: thousands of invisible square metres
2023-10-02

Office sublease: thousands of invisible square metres

In the office segment, the phenomenon of sublease – the transfer of part of a company’s leased premises to a third party – became popular during the pandemic and has remained since. The market of subleased property is usually not included in the official statistics published by real estate agencies. According to OBER-HAUS, current tenants of Class A and Class B+ business centres in Vilnius alone could be offering several thousand or even tens of thousands of square metres of space for sublease. Sublease is usually simply understood as renting space not directly from the owner or manager of a business centre, but from an existing tenant established and operating in the business centre. The principle of sublease itself existed long before the pandemic, but has only become more popular in recent years as businesses switched to remote or hybrid work, consequently, the amount of space required for their operations has decreased. OBER-HAUS estimates that since the beginning of the pandemic, the average office space in Vilnius has decreased by about 30%. In other words, companies entering into new contracts today are renting office space by almost a third smaller than a few years ago. However, office lease contracts are…

All news

This website uses cookies. You can confirm your acceptance by clicking the "I Agree" button or by continuing to browse. I agree

Mail sent!

This site is registered on wpml.org as a development site.