Up to two times the difference in selling prices of the most popular apartments in major cities
“As the level of house prices has been rising slowly and at a similar pace in all the country’s major cities, we can see that, in the longer term, the price differential between the major cities has remained broadly stable. The difference in prices between the national capital and the rest of the major cities can be up to two times higher for a typical house. For example, in November 2024, buyers in the most popular districts of Vilnius paid an average of EUR 103,000 for an old two-room apartment. The property bought for this amount is a tidy or better furnished apartment of 49 sqm in a block of flats built in 1977.
Meanwhile, buyers in Kaunas bought the same dwelling in November this year for an average of EUR 76,000, and in Klaipėda – EUR 70,000. At the same time, in Šiauliai and Panevėžys the price level of the same dwelling is 25-30% lower than in Kaunas and Klaipėda, and almost twice as low as in the capital of the country, i.e. EUR 54,000 and EUR 51,000 respectively.
Old-built housing remains very popular as it is the most affordable for those looking for a home in the city. Although the statistical wages in smaller cities are noticeably lower than, say, in the capital, the opportunities to buy the most popular type of housing are still better. And this is a significant advantage of smaller cities over the country’s largest cities,” says Raimondas Reginis, Ober-Haus Research Manager for the Baltics.
Full review (PDF): Lithuanian Apartment Price Index, November 2024
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