Vilnius apartment prices up for eighth month in a row
The Ober-Haus Lithuanian apartment price index (OHBI) shows that in September 2013 apartment prices in the five major Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys) increased by 0.1%. The same increase was recorded in August. This increase decreased the annual rate of decline to 0.1% and it was the smallest negative annual decline during last 22 months.
Positive index change in September was influenced by raised apartment prices in Vilnius and Šiauliai. During the first month of autumn prices grew by 0.2% in capital. This is the eighth month in a row, when price growth is observed in Vilnius. The average apartment price reached 1,204 EUR (+3 EUR/sqm). During a year apartment prices in capital increased by 1.2%, and since the last lowest price level (May 2010) have raised 4.3% (+50 EUR/sqm). 0.4% price increase was recorded in Šiauliai in September; the average apartment price reached 550 EUR (+2 EUR/sqm).
In September a decrease of 0.2% of apartment prices was recorded in Kaunas and Klaipėda, the average price per square metre dropped to 931 EUR (-2 EUR/sqm) and 956 EUR (-2 EUR/sqm). Apartment prices in Panevėžys haven‘t change and remained the same as in August – 515 EUR/sqm.
Latest news
All news
Housing prices follow the dynamics of changes in the prices of basic consumer goods and services
Ober-Haus Apartment Price Index for Lithuania (OHBI), which captures changes in apartment prices in the five largest Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), increased by 0.4% in June 2024. The overall level of apartment prices in Lithuania’s major cities has grown by 3.3% over the last 12 months (annual growth of 2.7% in May 2024). In June 2024, the sales prices of apartments in Vilnius, Kaunas, Šiauliai and Panevėžys grew by 0.5%, 0.7%, 0.9% and 0.3%, respectively, and the average price per square metre amounted to EUR 2,615 (+12 Eur/m²), EUR 1,778 (+12 Eur/m²), EUR 1,131 (+11 Eur/m²) and EUR 1,103 (+3 Eur/m²). Meanwhile, Klaipėda recorded a 0.1% decrease in apartment prices in June, with the average price per square metre amounting to EUR 1,687 (-2 Eur/m²). Over the year (June 2024 compared to June 2023) apartment prices increased in all major cities of the country: in Vilnius - 2.5%, in Kaunas - 3.2%, in Klaipėda - 5.3%, in Šiauliai - 4.9%, and in Panevėžys - 4.2%. "Looking at the sales price curve for housing in major cities in recent years, it can be seen that it is broadly in line with the price dynamics of consumer goods…
Real estate markets in the Baltic countries are experiencing varying degrees of difficulties, yet at the same time opening up opportunities for the most active participants
The year 2023 was full of challenges for the real estate markets of the Baltic countries showing some early signs of this back in 2022. Last year, Baltic countries saw an economic slowdown, declining activity in the residential and commercial real estate market, rising number of unsold apartments, higher office vacancy rates and slowing construction volumes. According to the Ober-Haus annual Real Estate Market Report on the capital cities of the Baltic countries, it is clear that the sentiment of homebuyers, businesses and investors alike has slumped and confidence in the Baltic real estate market as a whole has further eroded. While the general sentiment of the real estate market participants is similar across the Baltic countries, the overall impact of global factors (Russia-Ukraine war, high inflation, interest rate hikes) differs to a varying degree. “Since the real estate market in Latvia and its capital city has lacked fast growth in the last five years, the impact of the current challenges is not as tangible as in other countries,” Raimondas Reginis, Head of Market Research for the Baltics at Ober-Haus, said. Meanwhile, real estate markets in Estonia and Lithuania experienced an investment boom in the aftermath of Covid-19, resulting in…
First positive signs in the housing market, but faster recovery may have to wait
Ober-Haus Apartment Price Index for Lithuania (OHBI), which captures changes in apartment prices in the five largest Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), increased by 0.1% in May 2024. The overall level of apartment prices in Lithuania’s major cities has grown by 2.7% over the last 12 months (annual growth of 2.8% in April 2024). In May 2024, the sales prices of apartments in Klaipėda, Šiauliai and Panevėžys grew by 0.5%, 1.0% and 1.2%, respectively, and the average price per square metre amounted to EUR 1,689 (+8 Eur/m²), EUR 1,120 (+11 Eur/m²) and EUR 1,100 (+13 Eur/m²). Meanwhile, Vilnius recorded a 0.1% decrease in apartment prices in May, with the average price per square metre amounting to EUR 2,603 (-2 Eur/m²). In Kaunas, the average price per square metre remained unchanged at EUR 1,766 per square metre. Over the year (May 2024 compared to May 2023), apartment prices grew in all major cities of the country: in Vilnius – by 1.8%, in Kaunas – by 2.7%, in Klaipėda – by 5.2%, in Šiauliai – by 4.0%, and in Panevėžys – by 4.1%. "It can be said that the Lithuanian housing market has already reached its lowest point of…
All news