The housing market continues to grow, with more transactions and a high demand for new homes

As 2025 approaches, the housing market continues to grow, with strong sales and increased activity. According to data from the State Enterprise Centre of Registers, an average of 3,200 apartments and 1,200 houses were registered for sale in Lithuania each month in the third quarter of this year, which is 22% and 16% more than in the same period last year, respectively. During the first nine months of 2025, the housing market picked up in all major cities: There were 36% more housing transactions in Vilnius, 17% more in Kaunas, 19% more in Klaipėda, 27% more in Šiauliai, and 23% more in Panevėžys than during the same period in 2024.

Growing buyer activity continues to drive faster housing price growth. According to Ober-Haus data, annual apartment price growth in the country’s major cities reached 9.5% by the end of September 2025. In the third quarter of this year, apartment prices rose in all major Lithuanian cities: Vilnius (1.4%), Kaunas (2.2%), Klaipėda (1.9%), Šiauliai and Panevėžys (2.1% each). ‘It is likely that the pace of housing price growth will continue in the coming months, as conditions remain favourable – increasing buyer demand, improving access to financing, and continuing optimistic market expectations,’ says Edita Juočytė, Ober-Haus Investment and Analysis Project Manager.

According to E. Juočytė, the primary housing market in Vilnius remains highly active, with new apartment building projects launching continuously, indicating extremely high demand for new apartments. According to Ober-Haus data, 1,450 new apartments were sold and reserved in Vilnius’s primary apartment market during the third quarter of 2025 — twice the number sold during the same period in 2024 (approximately 720). On average, 475 new apartments have been sold per month in Vilnius’s primary market since the beginning of the year, indicating a steady increase in buyer interest and developer confidence in market prospects.

In Kaunas, according to Ober-Haus calculations, 330 new apartments were purchased directly from developers in the third quarter of 2025. This figure represents a 22% increase compared to the same period last year and a 70% increase compared to the second quarter of this year, when 199 apartments were sold. In Klaipėda, 175 new apartments were sold on the primary market during the same period — 1.5 times more than a year ago, and 10% more than in the previous quarter. ‘These results show that activity in the primary markets in both Kaunas and Klaipėda continues to grow, and buyer interest in new projects remains high,’ says E. Juočytė.

Since the end of last year, there has been a rapid decline in the number of new apartments being built in existing apartment buildings. According to Ober-Haus data, while there were around 1,300 new apartments on offer in the capital at the end of the third quarter of 2024, this number had fallen to 690 by the end of the third quarter of 2025, i.e. almost half. In Kaunas, at the end of the third quarter, the stock of unsold new apartments amounted to 220 apartments, or 38% less than a year ago, while in Klaipėda, on the contrary, the supply increased by 32% and amounted to about 80 new apartments. “With demand remaining high, the apartments currently offered for sale in the primary markets of Vilnius and Klaipėda could be sold in less than two months (on average in 1.4 months), and in the Kaunas market in about two months. This indicates an extremely rapid rate of absorption of newly built apartments and a still limited supply of new construction apartments,” says E. Juočytė.

According to data from the real estate advertising portal Aruodas.lt, apartment rental prices are rising steadily. In the third quarter of 2025, the average price of apartments offered for rent in Vilnius was €15.4/m² and was 5% higher than in the same period a year ago. In Kaunas, rental prices rose by 9% over the year, and in Klaipėda by 6%. The average prices of apartments offered for rent in these cities were €12.1/m² in Kaunas and €11.2/m² in Klaipėda, respectively.

Market participants view the changes to responsible lending provisions and the reduction of the initial deposit for first-time home buyers to 10% positively. They also view the reform of the second pension pillar, which creates more favourable conditions for using funds to purchase housing, positively. These changes give reason to expect market activity to remain strong in 2026. However, these changes will also mean that demand for housing will remain high and prices will continue to rise, albeit at a more moderate pace.