The Šiauliai housing market is expected to see a more moderate second half of the year

Although housing prices in Šiauliai rose by 11% in 2025 and remained active at the beginning of this year, the market is expected to stabilise in summer or autumn, according to forecasts by Ober-Haus.

According to data from the Centre of Registers, a total of 1,539 apartments and 253 houses were purchased in Šiauliai in 2025, representing increases of 22.9% and 22.4%, respectively, compared to 2024. According to Ober-Haus calculations, the average price of apartments in Šiauliai was €1,273 per square metre at the end of last year, which is 11% higher than a year ago.

According to the company’s data, the price of typical old apartments in residential areas of Šiauliai currently ranges from €1,200 to €1,800 per square metre, depending on furnishings, location and the condition of the building. Prices for newly built apartments with partial finishing in residential areas range from €2,000 to €2,800 per square metre, whereas in the city centre or the old town, prices per square metre can reach €2,500 to €3,200.

Linas Juozaitis, head of the Šiauliai Ober-Haus office, comments that the highest market activity and price growth in the city was observed in the second half of last year, and similar trends have continued into early 2026. However, he notes that the supply of rental housing is growing in Šiauliai and that the effect of second-tier pension funds on the real estate market is likely to be minimal due to the small amounts involved. This should lead to stabilisation of sales prices by the middle of the year.

The average number of apartments for sale has fallen from 300 in recent months to 150–170, which is currently driving up prices. However, the opposite is true in the rental segment, where supply has risen from the usual 40–50 apartments to around 120. “The population of the city did not increase last year and there were no new reasons for the rental segment to grow. Several new apartment buildings will enter the market in the second half of the year, so we should enter a stabilisation phase,” says L. Juozaitis.

According to Ober-Haus data, two-room apartments in older buildings (1963–1988) remain the most popular in Šiauliai. Unlike in the past, apartments on the ground floor have become the most attractive in the city in recent years and there is a shortage of them on the market. Conversely, apartments on upper floors take the longest to sell and have the lowest prices.

A record level of developer activity is expected in the new construction segment this year and in the coming years. Apartment buildings are under development on the streets of Vilnius, Malūno, Trakai, Paukščių Tako, Birutė and Gytari. Older buildings are also being converted into modern housing, including the former central city bathhouse on Basanavičiaus Street, the former vocational school on Pagėgių Street, and the former school on Kviečių Street. According to L. Juozaitis, these new homes should find buyers due to increased interest among Šiauliai residents in new construction.

The situation in the rental market

According to Ober-Haus calculations, an annual price increase of 5-6% was recorded in the rental segment last year, i.e. rents rose almost twice as slowly as apartments for sale. The average rental price per square metre in Šiauliai is currently around €8–9 per month.

According to the company’s data, the monthly rental price for the most popular two-room apartments in residential areas of Šiauliai is currently €300–500, and in the city centre it is €350–700.

L. Juozaitis points out that the number of permanent residents in Šiauliai has grown by 10% to 111,000 over the last five years, but this change has mostly been driven by migrants from Ukraine.

In addition to Ukrainians, Šiauliai stands out in the rental segment for its foreign transport company employees and NATO soldiers, although Lithuanians still make up the majority of renters. “It’s important not to create unreasonable expectations here. The number of soldiers is not particularly large, and transport workers are often on long assignments and tend to choose hostels or nightly accommodation in Šiauliai,” says L. Juozaitis.

In his opinion, as the supply of rental apartments has increased, it would be difficult to expect further price growth. According to Ober-Haus, the purchase of investment housing for rent in Šiauliai may already have peaked, with fewer such transactions seen recently. L. Juozaitis is also sceptical about the possible effect of second-tier pension funds on secondary investment housing.