Limited opportunities for people to spend their money provided the housing market with an additional impetus
The Ober-Haus Lithuanian apartment price index (OHBI), which records changes in apartment prices in the five major Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), increased by 0.9% in February 2021 (1.4% increase was recorded in January 2021). The annual apartment price growth in the major cities of Lithuania was 5.3% (the annual apartment price growth in January 2021 was 4.9%).
In Februrary 2021 apartment prices in the capital grew 0.8% with the average price per square meter reaching EUR 1,728 (+14 EUR/sqm). Apartment prices in Kaunas, Klaipėda, Šiauliai and Panevėžys in February grew by 0.4%, 0.8%, 2.2% and 2.3% respectively with the average price per square meter reaching EUR 1,209 (+5 EUR/sqm), EUR 1,192 (+10 Eur/sqm), 809 (+18 EUR/sqm) and EUR 794 (+18 EUR/sqm).
In the past 12 months, the prices of apartments grew in all major cities: 5.7% in Vilnius, 3.8% in Kaunas, 4.5% in Klaipėda, 7.8% in Šiauliai and 7.9% in Panevėžys.
“February’s output demonstrated that the pace of apartment price growth which gained momentum at the end of 2020 in the main Lithuanian cities was retained. In the last three months alone, the five biggest Lithuanian cities saw a steep jump in apartment sales prices reaching 3.3% on average. At the same time, it was the fastest price growth in three months since the 2007–2008 global financial crisis. It should be noted that apartment price growth was recorded in different cities and in different segments of apartments (both of new and older construction).
It seems that the present pandemic, which has significantly limited residents’ capacity for spending money on various forms of entertainment (hospitality, events, travels, etc.), encouraged some residents to further invest in the housing sector. We can see that Lithuanians are actively improving the housing they already own, that they acquire their first or not first home, they exchange their home for a newer or more spacious one, and so forth. The general high market activity, the increasing apartment prices and volumes of new loans as well as the growing or at least not decreasing number of residents in cities show that residents do not overestimate t the threats of the pandemic in the long term.
For this reason, developers of new housing gain a very important advantage in the present-day situation. By ensuring a sufficient amount of new housing developers can avail of the market potentials and at the same time contribute to the containment of price growth,” Raimondas Reginis, Research Manager for the Baltics at Ober-Haus, said.
Full review (PDF): Lithuanian Apartment Price Index, February 2021
Latest news
All news
The return of buyers to the housing market has caused prices to rise more quickly
The Ober-Haus Lithuanian apartment price index (OHBI), which follows changes in apartment sale prices in the five biggest Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys) increased by 0.7% in June 2025. The annual apartment price growth in the biggest cities of Lithuania was 6.7% (a 6.4% increase was recorded in May 2025). In June 2025 apartment prices in Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys increased by 0.6%, 1.0%, 0.9%, 0.5% and 0.7%, respectively, with the average price per square meter reaching EUR 2,768 (+17 EUR/sqm), EUR 1,926 (+19 EUR/sqm), EUR 1,816 (+16 EUR/sqm), EUR 1,212 (+7 EUR/sqm) and EUR 1,192 (+8 EUR/sqm). In the past 12 months, the prices of apartments increased in all the biggest cities in the country: 5.8% in Vilnius, 8.4% in Kaunas, 7.6% in Klaipėda, 7.2% in Šiauliai and 8.1% in Panevėžys. "The country's housing market is showing an impressive recovery this year, characterised by increased sales volumes and accelerated price growth. Although the number of housing transactions fell by 13% in June compared to May, the annual growth rate remains in double digits. According to data from the State Enterprise Centre of Registers, the number of houses purchased in June this year was 13%…
What impact will the rising cost of parking in Vilnius have on office workers?
[caption id="attachment_69748" align="aligncenter" width="2000"] Ugnė Liaudanskienė, Office Leasing Manager at Ober-Haus[/caption] In Vilnius, the 66% increase in the cost of short- and long-term on-street parking from 1 July will inevitably lead to higher prices at offices and private car parks. However, as the desire to drive to work remains strong, the new prices will primarily result in additional costs and inconvenience, or the need to find ingenious solutions. Despite aspirations to promote the sustainable movement of people in cities, the Vilnius office market shows that this is not yet being achieved. Although 'parking' is not a decisive factor in Ober-Haus' office negotiation practice, it is certainly one of the most important issues for tenants. It is not a matter of personal whims or privileges of managers — in a competitive labour market, companies are simply trying to meet the real needs of their employees. The cost of land, changing regulations and design considerations mean that the number of parking spaces near business centres is actually decreasing. Just two decades ago, large developers could build large multi-storey car parks in central business districts and allow tenants to park for free, with a limit on the number of spaces per company. According…
A new housing project Pašilaičių SOLO has been launched in the northern part of the Pašilaičiai
Construction has started on a new residential project called Pašilaičių SOLO in the northern part of Pašilaičiai in Vilnius. This five-storey apartment building, which has only 40 apartments, is distinguished by its cosy atmosphere, well-designed dwellings, and extremely convenient city location. This project is ideal for those looking for a comfortable, quiet city life. The smaller population, highest energy class A++ rating, underfloor heating and tidy surroundings create the feeling of a sustainable, quality home. Every detail has been considered to ensure the comfort of modern residents, from the home's layout to the provision of everyday conveniences," says Marius Čiulada, the project's Sales Manager. Buyers can choose from one- to four-room apartments (from 31 to 77 m²), all of which have balconies or terraces. The apartments are sold with partial finishing, but buyers also have the option of full finishing. Underground and surface parking spaces are planned for cars and electric vehicles, as well as storage facilities. The courtyard will feature a seating area and a children's playground. The Pašilaičių SOLO project is being implemented by UAB Hiltus, an experienced general contracting company that ensures quality and durable solutions at every stage of construction. The Ober-Haus team is responsible for…
All news