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A more favourable house price to wage ratio for buyers in 2023 and 2024
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), increased by 0.2% in February 2024. The overall level of apartment prices in Lithuania's major cities has grown by 2.2% over the last 12 months (annual growth of 2.1% in January 2024). In February 2024, the sales prices of apartments in Vilnius, Kaunas and Klaipėda grew by 0.3%, 0.3% and 0.1%, respectively, and the average price per square metre amounted to EUR 2,589 (+8 Eur/m²), EUR 1,751 (+6 Eur/m²) and EUR 1,651 (+1 Eur/m²). Meanwhile, Šiauliai recorded a 0.2% decrease in apartment prices in February, with the average price per square metre amounting to EUR 1,095 (-3 Eur/m²). In Panevėžys, the average price per square metre remained unchanged at EUR 1,075 per square metre. Over the year (February 2024 compared to February 2023), apartment prices grew in all major cities of the country: in Vilnius - by 1.8%, in Kaunas - by 3.2%, in Klaipėda - by 3.0%, in Šiauliai - by 1.7%, and in Panevėžys - by 1.8%. "Although the cold snap that has gripped the country's housing market is not going away yet,…
The cumulative effect of several years of housing market activity decline, suggests around 40% lower construction volumes in 2024
Over the past few years in Lithuania, we have seen a rapid decline in housing market activity, which has impacted the volume of new housing developments. However, apartment building developers in the country’s major cities have been facing the toughest challenges lately, with very modest apartment sales figures in the period 2022–2023. According to Ober-Haus, compared to the record activity of 2021, in 2023, the sales of apartments in the primary market were down by 68% in Vilnius, 55% in Kaunas, and 57% in Klaipėda. “Despite the two- to three-fold decrease in the sales of newly-built apartments, a very high number of apartments were nevertheless completed in the country’s major cities in 2023, because the development of these projects had begun during 2021 and 2022,” said Raimondas Reginis, Head of Market Research for the Baltics at Ober-Haus. According to Ober-Haus, in 2023, developers in Vilnius built 4,915 apartments for sale – 18% more than in 2022. When considering the last two decades, this is one of the highest figures, second only to those in 2007, 2008 and 2020, when more than 5,000 apartments were built for sale. In 2023, 52 different apartment projects (including ongoing project phases) were available for…
Building permit for the construction of the housing project Vilniaus Džiazas has been obtained
Unique Properties, a real estate development company, has received a permit and started the construction of the Vilniaus Džiazas project in K. Vanagėlio Street in Vilnius Old Town. K. Vanagėlio str. 11 and 18, which consists of a two-storey apartment building with 62 apartments and 11 commercial premises, a 1200 sqm administrative cultural heritage object of interwar construction and public spaces. The project will feature apartments with 4,5 m high ceilings and 4 m high stained-glass windows, the ground floor will have private patios and access to a garden, while the second and third floors will have balconies and the last floor will have private terraces. According to Gediminas Tursa, CEO of Unique Properties, Vilniaus Džiazas aims to revitalise a part of the Old Town that was undeservedly forgotten during the Soviet era, and to reconnect it with the Rasa. The complex not only includes an open and lively commercial street along the north-south axis, but also new pedestrian and cycling connections to the railway station. "After obtaining the building permit, the company received a lot of interest from interested parties and within a couple of weeks it sold several more apartments - currently Vilniaus Džiazas has signed about 20…
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Vilniaus Džiazas
K. Vanagėlio str., Oldtown, Vilnius
This is a housing project, changing the access to the Old Town and harmoniously integrating into the historic center of Vilnius – just a few minutes to the Gates of Dawn, Barbakanas Hill. Exclusive apartments in Vilnius Old Town invite residents to discover the highest standards of living quality
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Gardino 22
Gardino str., Rasos, Vilnius
Created sustainably and with great respect for the environment, a small 15-apartment residential building is developed for those who want to feel a connection with nature. Spacious and rational apartment layouts, large balconies, and terraces will allow you to enjoy quality relaxation, forgetting about the daily chores and worries.
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Sidaronių namai
Sidaronių str., Pilaitė, Vilnius
A new cozy and small apartment and cottage project Sidaronių namai is being developed in the western part of Vilnius. We offer 2 and 3-room apartments with balconies or terraces and 113.99 m² and 112.34 m² cottages with a yard.
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Beržų namai
A. Juozapavičiaus str., Žemieji Šančiai, Kaunas
A residential project designed for the modern urban dweller, allowing to enjoy a balanced flow of life. Settle in an exclusive location in Kaunas and enjoy the true prestige of our times – the opportunity to guarantee peace, safety, and comfortable living for yourself and your family.
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Dubysos namai
Smėlynų str., Ariogala
On the left bank of the Dubysa River, surrounded by exceptional nature in Ariogala, a new residential building with 89 apartments is being developed. We offer spacious 55–110 m² and comfortably designed apartments suitable for both families and investment.
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eMarketCity
Eišiškių pl., Kirtimai , Vilnius
The online and wholesale shopping town eMarketCity is oriented towards medium and small businesses that are looking for warehouse, office, and commercial spaces in one place. In a 3.9 ha territory, 7 buildings are being developed, totaling over 20,000 m² of spaces that can be adapted to specific business needs.
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Liepų parko namai
J. Janonio str., Kačerginė
This is a project of two A++ class twin houses in the resort town of Kačerginė, in a quiet location in front of the Liepų Park. The project includes houses with an area of 147 m² with outdoor terraces and 4.2 a courtyards.
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Baltic States real estate market report 2023
Ober-Haus presents its annual real estate market report 2023 on the Baltic States Capitals – Vilnius, Riga and Tallinn. The overview focuses on the office, commercial, storage, residential premises markets and land plots
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