2011 starts with a fall in apartment prices

The Ober-Haus Lithuanian apartment price index (OHBI) for January of 2011, which records changes in apartment prices in the five main Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai, and Panevėžys), dropped 0.3%. An increase of 0.2% was recorded in December of 2010.

After rise for the seventh month in a row in January 2011 apartment prices in Vilnius dropped by 0.4%. Despite monthly drop annual change of apartment prices in Vilnius has increased to 0.2%. In December 2010 annual change was 0.1%.

In January apartment prices in Kaunas (second largest city in Lithuania) went down by 0.1% and in Šiauliai and Panevėžys dropped 0.7% and 0.5% respectively. Apartment prices in Klaipėda remained stable for the second consecutive month.

Comparing prices with the highest recorded apartment prices reached in late 2007, apartment prices have dropped 40.0% in Vilnius, 33.2% in Kaunas, 45.4% in Klaipėda, 44.6% in Šiauliai, and 46.0% in Panevėžys.

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