Market activity bounces back to the 2019 level; prices are still on the rise
The Ober-Haus Lithuanian Apartment Price Index (OHBI), which records changes in apartment prices in five major Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), went up in April 2022 by 1.6% (in March 2022, an increase of 0.8% was recorded). The overall price level of apartments in the major cities of Lithuania has increased by 21.4% over the last 12 months (in March 2022, the annual increase stood at 21.1%).
In April 2022, apartment sales prices in the capital city increased by 1.7% and reached 2,195 EUR/sqm (+37 EUR/sqm). The increase in Kaunas, Klaipėda, Šiauliai and Panevėžys, was 1.6%, 1.2%, 1.3% and 1.8% respectively and the average price of apartments was 1,530 EUR/sqm (+24 EUR/sqm), 1,446 EUR/sqm (+17 EUR/sqm), 981 EUR/sqm (+12 EUR/sqm) and 954 EUR/sqm (+16 EUR/sqm) respectively.
In April 2022, apartment prices in all major cities of the country rose year-over-year by 22.6% in Vilnius, 23.0% in Kaunas, 17.7% in Klaipėda, 17.2% in Šiauliai and 15.4% in Panevėžys.
“Compared to the indicators last year, the country’s housing market activity has over the past few months declined, but given the extremely tense geopolitical situation and challenges to the country’s economy, the overall activity level remains relatively high. The results in April show that the majority of potential home buyers respond calmly to global events and proceed with the property purchase. The sufficiently high activity of the housing market supports a further price increase in the country’s major cities.
According to the State Enterprise Centre of Registers, the total number of apartment sales in Lithuania in April 2022 was by 21% lower than in April 2021. Looking at the performance of the apartment segment in the past two months, the indicators have returned to the 2019 levels. Meanwhile, the increase in apartment sales prices has been recorded in all apartment segments in the major cities, but the increase in the prices of newly built apartments has been more prominent. For example, in April this year, prices of newly built apartments in Vilnius, Kaunas and Klaipėda increased 2-3 times faster than those of older apartments. The price increase of new apartments in the primary market is visible both in terms of the number of recorded transactions and the expectations of developers. Developers increase the prices of the apartments still available in the completed projects or projects in progress at a rate of 5-10% per month Meanwhile the prices of apartments in the planned projects are at least by one third higher than a year ago.
Serious challenges in the construction sector are forcing developers to radically review the pricing of home sales in the planned projects in order to make them cost-effective. However, the success of implementation of these projects will depend not only on the expectations of developers, but also on the capacities of buyers. It seems that the next half of the year will show if the majority of the buyers are willing to pay a much higher price for a new home than before. It is likely that the current and future economic challenges may reduce the potential of some of the buyers and encourage them consider the possibilities of buying older or new but less attractive residential properties,” Raimondas Reginis, Research Manager for the Baltics at Ober-Haus, said.
Latest news

“e-market city” completes its second phase – the development of a modern “stock office” type shopping town continues
"e-market city", an online and wholesale shopping town located in a business-friendly location at the intersection of Eišiškių pl. and Geologų Street, is rapidly approaching the end of its second phase. The final construction works are currently underway and the first tenants of the new phase are preparing to move in as early as June-July. "The predominant floor areas of e-market city - ranging from 370 to 960 m² - are easily combinable and adaptable to a wide range of commercial activities. Existing and potential tenants appreciate the easy accessibility, high quality of construction and fitting-out, functional layout and solid neighbourhood, where well-known companies such as Assa Abloy, Dextera, Skuba, Skuba, Maidina, Šildymas plius, YE International, etc. are already located. The first phase is already 100% leased, while the second phase is still available - we invite you to get in touch", says Remigijus Valickas, Commercial Real Estate Projects Manager at Ober-Haus. The project is being developed in three phases on an area of 3.9 ha. The total area of the buildings will exceed 20,000 m² and the total investment in the project will amount to more than EUR 25 million. For more information about the project and leasing opportunities,…

The recovery of a very strong-looking housing market may slow down
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 0.5% in March 2025. The annual apartment price growth in the biggest cities of Lithuania was 4.3% (a 4.1% increase was recorded in February 2025). In March 2025 apartment prices in Vilnius, Kaunas, Šiauliai and Panevėžys increased by 0.4%, 1.3%, 0.4% and 0.2%, respectively, with the average price per square meter reaching EUR 2,680 (+10 EUR/sqm), EUR 1,846 (+24 EUR/sqm), EUR 1,172 (+4 EUR/sqm) and EUR 1,149 (+2 EUR/sqm). In the same month, apartment prices in Klaipėda decreased by 0.1% and the average price per square meter dropped to EUR 1,752 (-2 Eur/sqm). In the past 12 months, the prices of apartments increased in all the biggest cities in the country: 3.3% in Vilnius, 5.6% in Kaunas, 5.4% in Klaipėda, 6.5% in Šiauliai and 6.4% in Panevėžys. "At the beginning of 2025, the country's housing market is showing impressive results. After a very strong growth in housing transactions in January and February this year, the increase in the number of transactions continued in March. According to the data of the State Enterprise…

Housing market has woken up, but no faster price growth yet
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 0.4% in February 2025. The annual apartment price growth in the biggest cities of Lithuania was 4.1% (a 4.0% increase was recorded in January 2025). In February 2025 apartment prices in Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys increased by 0.3%, 0.1%, 0.8%, 0.8% and 0.9%, respectively, with the average price per square meter reaching EUR 2,670 (+7 EUR/sqm), EUR 1,822 (+2 EUR/sqm), EUR 1,754 (+13 EUR/sqm), EUR 1,168 (+10 EUR/sqm) and EUR 1,147 (+10 EUR/sqm). In the past 12 months, the prices of apartments increased in all the biggest cities in the country: 3.2% in Vilnius, 4.1% in Kaunas, 6.2% in Klaipėda, 6.6% in Šiauliai and 6.7% in Panevėžys. ‘As predicted, a rapid annual growth in the number of housing transactions is recorded at the beginning of 2025. According to the data of the State Enterprise Centre of Registers, 40% more apartments were purchased in the country in January this year and 39% more in February this year than in the same month in 2024. It should be noted that in the…