Buyers are paying €20,000 more for standard apartments than a year ago
The Ober-Haus Lithuanian Apartment Price Index (OHBI), which tracks apartment price changes in Lithuania’s five largest cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), increased by 1.2% in September 2026. Over the past 12 months, apartment prices across these cities have risen by 13.7%, unchanged from the annual growth rate recorded in August 2026.
In September 2026, apartment prices increased by 0.9% in Vilnius, 1.7% in Kaunas, 1.1% in Klaipėda, 2.0% in Šiauliai and 2.8% in Panevėžys. The average price per square metre reached €3,197 in Vilnius (+€27/m²), €2,339 in Kaunas (+€39/m²), €2,103 in Klaipėda (+€23/m²), €1,457 in Šiauliai (+€28/m²) and €1,432 in Panevėžys (+€39/m²).
Year-on-year, apartment prices rose in all five cities. Compared to September 2025, prices increased by 12.2% in Vilnius, 16.8% in Kaunas, 12.9% in Klaipėda, 17.3% in Šiauliai and 17.5% in Panevėžys.
“Even the recent acceleration in housing price growth has not slowed activity in the real estate market. According to data from the State Enterprise Centre of Registers, the number of apartments purchased nationwide in the third quarter of this year was 2.1% higher than in the same period last year, while house purchases increased by 13.3%.
Meanwhile, apartment prices in Lithuania’s major cities are rising considerably faster than the overall price level of goods and services. With inflation limiting growth in households’ real incomes and housing prices continuing to climb rapidly, buyers are facing increasing affordability challenges.
Transaction volumes, prevailing price levels and the composition of sales indicate that buyers are increasingly turning to lower-priced, more affordable properties. Demand for housing remains strong, but buyers’ choices are often constrained by their financial circumstances. It is therefore unsurprising that prices for typical older apartments have been rising particularly quickly.
For example, in the third quarter of 2025, buyers paid an average of €113,000 for a two-room apartment in an older building in Vilnius’ most popular residential districts. In the third quarter of this year, the average price had risen to €133,000.
A similar trend can be seen in Kaunas, where buyers paid an average of €110,000 for comparable apartments in the third quarter of 2026, up from €88,000 a year earlier. In Klaipėda, the average price reached €97,000, compared to €78,000 in the third quarter of 2025.
This segment remains the most active part of the housing market, with prices rising considerably faster than those of more expensive or higher-quality properties. As housing prices continue to increase, demand for the most affordable homes is likely to grow even further,” says Raimondas Reginis, Head of Market Research for the Baltics at Ober-Haus.
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Buyers are paying €20,000 more for standard apartments than a year ago
The Ober-Haus Lithuanian Apartment Price Index (OHBI), which tracks apartment price changes in Lithuania’s five largest cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), increased by 1.2% in September 2026. Over the past 12 months, apartment prices across these cities have risen by 13.7%, unchanged from the annual growth rate recorded in August 2026. In September 2026, apartment prices increased by 0.9% in Vilnius, 1.7% in Kaunas, 1.1% in Klaipėda, 2.0% in Šiauliai and 2.8% in Panevėžys. The average price per square metre reached €3,197 in Vilnius (+€27/m²), €2,339 in Kaunas (+€39/m²), €2,103 in Klaipėda (+€23/m²), €1,457 in Šiauliai (+€28/m²) and €1,432 in Panevėžys (+€39/m²). Year-on-year, apartment prices rose in all five cities. Compared to September 2025, prices increased by 12.2% in Vilnius, 16.8% in Kaunas, 12.9% in Klaipėda, 17.3% in Šiauliai and 17.5% in Panevėžys. “Even the recent acceleration in housing price growth has not slowed activity in the real estate market. According to data from the State Enterprise Centre of Registers, the number of apartments purchased nationwide in the third quarter of this year was 2.1% higher than in the same period last year, while house purchases increased by 13.3%. Meanwhile, apartment prices in Lithuania’s major cities are rising…
A new 40-apartment development, “Matau marias”, is being built on the shores of the Ekranas Lagoon in Panevėžys
A new real estate development, “Matau marias”, is being built in Panevėžys by the Ekranas Lagoon. At Elektronikos g. 10, four low-rise buildings are planned, comprising 40 leisure-use apartments with partial interior finishing. The apartments will range in size from 28 to 96 sq. m. Construction began in August 2026 and is scheduled for completion by the end of 2027. One of the development’s key features is its location directly beside the Ekranas Lagoon. The buildings are surrounded by greenery, while the site is closely integrated with the lagoon’s shoreline. The development will include pedestrian paths, landscaped green and recreational areas, an upgraded waterfront, and a private jetty for apartment owners. “Living by the water is usually associated with the countryside or resort towns, so a location like this in Panevėžys itself is quite rare. Here, the water and nature are not simply part of the view – the lagoon’s shoreline becomes a natural extension of the development. At the same time, the city centre remains just a few minutes away,” says Justina Ščeponavičė, Head of Sales for the project. Four low-rise buildings and just 40 apartments “Matau marias” consists of four low-rise buildings connected by a cohesive landscape concept…
Optimism continues to support housing price growth
The August 2026 value of the Ober-Haus Lithuanian Apartment Price Index (OHBI), which tracks apartment price changes in the five largest cities in Lithuania (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), increased by 1.8%. Over the past 12 months, the overall apartment price level in Lithuania’s major cities rose by 13.7% (in July 2026, annual growth stood at 12.9%). In August 2026, apartment sale prices in Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys increased by 1.6%, 2.1%, 2.3%, 1.0% and 1.3%, respectively. The average price per square metre reached €3,170 (+€50/m²), €2,300 (+€47/m²), €2,080 (+€48/m²), €1,429 (+€14/m²) and €1,393 (+€18/m²), respectively. Over the year (August 2026 compared with August 2025), apartment prices increased in all major cities across Lithuania: by 12.7% in Vilnius, 16.4% in Kaunas, 12.9% in Klaipėda, 15.8% in Šiauliai and 14.6% in Panevėžys. “Despite considerable expectations regarding the impact of the second-pillar pension reform and changes to the Responsible Lending Regulations on the Lithuanian housing market, we have not observed a significant surge in market activity recently. According to data from the State Enterprise Centre of Registers, 2.5% more apartments and houses were purchased in Lithuania this August than in the same month last year, but 4.7% fewer than…
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