Vilnius apartment prices up for eighth month in a row
The Ober-Haus Lithuanian apartment price index (OHBI) shows that in September 2013 apartment prices in the five major Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys) increased by 0.1%. The same increase was recorded in August. This increase decreased the annual rate of decline to 0.1% and it was the smallest negative annual decline during last 22 months.
Positive index change in September was influenced by raised apartment prices in Vilnius and Šiauliai. During the first month of autumn prices grew by 0.2% in capital. This is the eighth month in a row, when price growth is observed in Vilnius. The average apartment price reached 1,204 EUR (+3 EUR/sqm). During a year apartment prices in capital increased by 1.2%, and since the last lowest price level (May 2010) have raised 4.3% (+50 EUR/sqm). 0.4% price increase was recorded in Šiauliai in September; the average apartment price reached 550 EUR (+2 EUR/sqm).
In September a decrease of 0.2% of apartment prices was recorded in Kaunas and Klaipėda, the average price per square metre dropped to 931 EUR (-2 EUR/sqm) and 956 EUR (-2 EUR/sqm). Apartment prices in Panevėžys haven‘t change and remained the same as in August – 515 EUR/sqm.
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