In 2019, Ober-Haus turnover in Lithuania increased by 13.5 per cent

In 2019, the Ober-Haus the real estate company had a turnover of €4.5 million excl. VAT, which is 13.5 per cent more than in 2018, when revenue was € 3.95 million. Last year’s turnover of Ober-Haus was the highest since 2008.

‘The year 2019 was indisputably an active year both for the real estate market and our company. The result achieved by Ober-Haus is the highest of the past 12 years. We were growing in a consistent and stable pattern all due to our highly motivated, quality driven team inspired by genuine values’, says Audrius Šapoka, the General Manager of Ober-Haus.

In 2019, Ober-Haus in Lithuania concluded 13,000 transactions, among which nearly 1,000 non-commercial real estate sales and 500 lease deals. The company also prepared a record number –  11,500 – property valuation reports, valuation expert analyses and provided countless consultations to clients.

‘The growth of the past year was in essence shaped by the excellent results in valuation operations and specifically by the realisation of new housing projects. This year, we will also be strengthening our position in the commercial real estate sector, where we see space to expand and maximise experience, our business contacts and existing relationships with national and international companies, said Mr Šapoka.

Ober-Haus has operated in Lithuania since 1998 and has offices in Vilnius, Kaunas, Klaipėda, Palanga, Šiauliai, Panevėžys and Druskininkai, employing a total of more than 150 real estate experts. Among the services provided by the Company are real estate and moveable property valuations, business valuations, acting as intermediaries in buying, selling and leasing real estate, property management and market research.

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Ober-Haus Celebrates 25 Years: How Has the Property Market Changed in a Quarter of a Century?
2023-11-07

Ober-Haus Celebrates 25 Years: How Has the Property Market Changed in a Quarter of a Century?

In 1998, the Lithuanian real estate market was characterised by a lack of housing, poor credit conditions and an underdeveloped commercial real estate sector. Over the last 25 years, the number of apartments for sale has increased more than 10-fold, housing market activity has almost quadrupled, lending rates have fallen from double to single digits, and modern office buildings and shopping malls are now numbering in the hundreds – that’s the picture according to the Ober-Haus Real Estate Market Review 1998–2023, conducted to celebrate the company’s 25th anniversary. The Year 2000 Marked the Beginning of the Creation of the Lithuanian Real Estate Market The years 1998–2000 can be considered as the period when the real estate sector in Lithuania began to evolve. Due to the absence of credit services, the Lithuanian population was mostly only able to purchase a home using their own funds, and commercial construction with the intention to sell or lease was in its infancy. And so, 25 years ago, investors were developing single apartment blocks, business/office assets and shopping centres, where any new development for sale or rent was regarded as a significant event in the real estate market. The Russian economic crisis, which began in…

Buyers Show No Interest in Overpriced Housing
2023-10-24

Buyers Show No Interest in Overpriced Housing

The 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), remained unchanged in September 2023 (August 2023 figures had shown 0.4% growth). The overall level of apartment prices in Lithuania’s major cities grew by 2.6% over the last 12 months (an annual growth of 4.9% in August 2023). In September 2023, Klaipėda, Šiauliai and Panevėžys recorded 0.2%, 0.3% and 0.4% growth respectively, and the average price per square metre rose to EUR 1,613 (+3 €/m²), EUR 1,103 (+3 €/m²) and EUR 1,078 (+4 €/m²). Meanwhile, in Vilnius and Kaunas, the average price per square metre decreased by 0.1% month-on-month to 2.568 Eur (-3 €/m²) and 1.724 Eur (-2 €/m²) respectively. Over the year (September 2023 as compared to September 2022), apartment prices grew in all major cities of the country: in Vilnius – by 2.6%, in Kaunas – by 3.2%, in Klaipėda – by 1.6%, in Šiauliai – by 3.7%, and in Panevėžys – by 2.5%. The stagnation period in the Lithuanian housing market continues. Although the market activity indicators do not show any signs of improvement, the majority of home sellers have not…

Office sublease: thousands of invisible square metres
2023-10-02

Office sublease: thousands of invisible square metres

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