RANKING OF PRIORITIES AMONG THE BALTIC CAPITAL CITIES FOR THE DEVELOPMENT OF SUSTAINABLE CONSTRUCTION

Crisis of the real estate sector resulted in disadvantageous conditions for legal entities operating in the field of construction and implementation of new property development projects. As a result, many such entities started investigating their options to offer construction services and products to more economically attractive foreign markets. This necessitates the need to assess the effectiveness of investments into new markets, considering the current developmental trends of the construction sector, which are related to implementation of sustainable construction projects. Close cooperation of Baltic States at the national level and joint activities of several construction market participants predetermine the necessity to assess biggest cities of Lithuania, Latvia, and Estonia being the potential market of construction sector to be selected as a target segment of efficient development of construction needs.These are the reasons behind the creation of a typical calculation model, which could be adapted for an effective and uncomplicated assessment of investment rationale in new markets while ensuring the adherence to principles of sustainable development. Assessment of potential capabilities of a construction sector of three Baltic capitals (Vilnius, Riga, Tallinn) could provide the opportunity to direct capital and investments of construction market participants in the wore efficient way and create the highest added value for the economy, residents and development of sustainable environments. Identification of project implementation area is a key factor in determining directions of the activity performed by private investors, performed in order to assess the opportunity of efficient realisation of construction project proposed for implementation with particular environment. A multiple-criteria task is formulated, which aims to determine the rank of priorities among cities of the Baltic states; and multi-criteria methods MOORA and MULTIMOORA are used for decision-making.