Lithuania’s commercial property investment market outpaced 2024 in Q1–Q3 2025
The second half of 2025 got off to a slow start for the Lithuanian commercial real estate investment market. According to Ober-Haus data, the value of acquired modern cash-flow commercial properties (office, retail, industrial and logistics) amounted to €48 million in Q3 2025.
‘Investment volumes in Q3 2025 were 34% lower than in the previous quarter but equivalent to the same quarter in 2024. However, investment transactions in Lithuania already amounted to €235 million in the first three quarters of 2025, which is slightly more than the total for 2024 as a whole,’ says Raimondas Reginis, Ober-Haus’s market research manager for the Baltic countries.
As with the first half of 2025, the largest share of investments went to retail properties, with 68% of all investments in Lithuanian commercial real estate being spent on acquisition during the third quarter. The high proportion of retail premises was largely determined by one of the largest transactions of the year. In August, Corum, a French real estate investment fund management company, announced that its Corum Origin fund had sold the Depo store in Vilnius. The French company had acquired the shopping centre in 2019 from the Latvian retail chain Depo and sold it for more than €31 million — 22% more than it had paid in 2019.
‘This was likely a sale-and-leaseback transaction with a repurchase option/obligation, whereby the acquired property is leased to the seller and then sold back to the tenant. Corum currently owns three more Depo stores in Lithuania,’ says R. Reginis.
According to Ober-Haus data, in Q3 2025, the office segment accounted for 21% of all commercial real estate investments in Lithuania. Several small deals were concluded in this segment, with the most significant agreement reached in Vilnius. In August, the investment company Braitin sold a 2,400 sqm administrative building on A. Domaševičiaus Street. The building, located in the city centre, was purchased by a local company.
The remaining 11% of investments were in industrial segment. Despite no significant transactions being concluded in this segment during the third quarter of the year, an analysis of the results for the first nine months shows that the number of transactions did increase significantly. An assessment of the results for the first nine months of 2025 shows that almost €66 million worth of real estate was purchased in this segment, accounting for 28% of all investments in commercial real estate in Lithuania. R. Reginis points out that, the total investment volume in warehousing and industrial-use facilities exceeded that of the office segment, which accounted for only 20% of investments during the same period — the worst indicator since 2012. The industrial property segment still has potential to show growth as several more deals have recently been concluded, which will be reflected in the fourth quarter’s figures.
Despite the growth recorded in commercial real estate investment in Lithuania, the total transaction volume — the number of transactions and the distribution by sector — suggests that investors remain extremely cautious. ‘This is particularly evident in the office segment, which in previous years was one of the main drivers of investment. In recent years, despite Lithuania’s stable business indicators, office tenants have mostly opted to make more efficient use of the space they already occupy rather than expand. Consequently, potential investors are cautious about the prospects of this segment and are seeking alternative investment opportunities,’ says R. Reginis.
The share of foreign investors in the Lithuanian market remains at a historic low, reducing the overall market liquidity. According to Ober-Haus data, the share of Lithuanian capital in investment transactions amounted to 90% in the first half of 2025.
‘However, since the Depo store in Vilnius was acquired by a Latvian-owned company in Q3, the share of local capital in investment transactions has decreased to 79%. Nevertheless, this indicator remains extremely high, similar to the levels seen in 2022–2024 (73–82%), when foreign capital began to withdraw from Lithuania. This suggests that, in the near future, local investors will continue to influence overall trends in the Lithuanian commercial real estate market,’ says R. Reginis.
Latest news
All news
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…
New residential development “Keturlapio skveras” completed in Didieji Gulbinai
A new residential development, “Keturlapio skveras”, has been completed in Didieji Gulbinai, Vilnius, next to Verkiai Regional Park and Lake Gulbinas. The project, located on Sėkmės Street, comprises 24 A++ energy-class semi-detached homes, with sales progressing actively. The development features four- and five-bedroom, one- and two-storey homes ranging from 130 to 170 sq. m, set on plots of 6 to 9 ares. The homes are being sold with partial finishes, completed terraces and fully landscaped surroundings. “Keturlapio skveras” has been designed as a cohesive, gated residential development. The site will be fenced, with controlled access, street lighting and a video surveillance system. The internal road ends in a cul-de-sac, ensuring that there is no through traffic within the development. Residents will also have access to an 18-are recreational park featuring illuminated pathways, a children’s playground and a landscaped leisure area. “This project is aimed at buyers looking for a premium home who value a thoughtfully planned environment, proximity to nature and a strong sense of community. Here, it is not just about the house and its plot – the project also creates the infrastructure of the entire development and a shared recreational space. Particular attention has been paid to the…
All news