Lithuanian property market

 

In the third quarter of 2009, the Lithuanian property market has remained stable. Prices have fallen by 6%, but the number of real estate transactions has been stable in the latest 6 months.

The housing market activity is still low in comparison with the boom years, but the lower prices are attracting an increasing number of potential investors who were waiting for the most advantageous moment to make a profitable investment in Lithuania.

 

In Q3 2009, the sales prices of apartments have fallen by 7% in Vilnius, by 6% in Kaunas, by 2% in Klaipëda, by 6% in ÄÉiauliai and by 11% in Panevëþis. Today, an old apartment costs 630 euros per sqmt in Vilnius, 580 euros per sqmt in Klaipëda, 490 euros per sqmt in Kaunas, 400 euros per sqmt in ÄÉiauliai and 380 euros per sqmt in Panevëþis.

 

The residential rental sector has been more active in the third quarter of 2009, as the leasing of a residential property is more affordable than the purchase of a dwelling. However, the high competition in the rental sector and the difficult financial situation of many residents have obliged residential properties owners to reduce lease prices. The rent of a two-roomed apartment in the centre of Vilnius costs between 250 and 500 euros per month. The price for a three-roomed apartment in the capital city varies from 350 to 700 euros per month.

 

At the end of September 2009, 77% of new apartments were sold in Vilnius, 80% in Kaunas, 88% In Klaipëda, 73% in ÄÉiauliai, 46% in Panevëþis and 62% in Druskininkai. Despite this, the supply of new unsold apartment is decreasing slowly because some buyers are not purchasing the real estate property they have booked in advance.

Related Insights

Real Estate Listings

Cod. 36851

For sale Building, Lithuania, Palanga, Palanga, Sod┼│ gatv─Ś 15B

160,916.00USD
For sale
Building

139 m²
For sale 139m2 cottage with garage Sod┼│ g., Palanga: - 2011 construction; - 3 floors (4 with underground floor); - Windows to the east and west. In...
Cod. 36730

For sale Other (Commercial), Lithuania, Lazdijai, Lazdijai, Raganiškių kaimas

1,839,040.00USD
For sale
Other (Commercial)

420000 m²
Selling the homestead. The land plot area is 42 hectares. Pine forest near lake. Camping site for 48 campers with electric and water supply, 5 stati...
Cod. 36499

For sale Villa, Lithuania, Kaunas, Lap─Śs, A. Merkio street

804,580.00USD
For sale
Villa

700 m²
Fantastic american style villa located in the center of Lithuania near biggest city Kaunas. The villa counts with a wonderful back patio, garden and p...
Cod. 36244

For sale Farm, Lithuania, K─Śdainiai, Tuskiniai, Tuskiniai

31,033.80USD
For sale
Farm

3700 m²
Beautifull Farm with a house build in 1952 for sale. 0,37 are property nearby the city of Kedainiai. Asking price 27.000 euro. Normally 10,- euro / ...
1 / 26
  1. Preferences

    For a better use of Realigro website, set your preferences for language, currency, square meters or sq ft.

    Set now Don't show again
BB