Apartment prices down in all main cities in November

In November of this year, the Ober-Haus Lithuanian apartment price index (OHBI), which records changes in apartment prices in the five main Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai, and Panevėžys), dropped 0.3%. A decrease of 0.2% was recorded in October 2011. In November, apartment prices in the main Lithuanian cities decreased 0.3% year-on-year.

‘The slight relief in the real property market was determined by certain objective reasons such as seasonality, which is observed every year, and unclear expectations both with regard to processes inside the country and with regard to the developments in the eurozone’, Saulius Vagonis, director of the Valuation and Market Research Department of Ober-Haus, said.

In November, apartment prices went down in all main Lithuanian cities. The decrease was 0.3% in Vilnius, 0.1% in Kaunas, 0.6% in Klaipėda, 0.4% in Šiauliai, and 0.2% in Panevėžys.

Over the past 12 months, the growth in apartment prices in Vilnius decreased to 1.2% (from 1.9% in October). Changes in apartment prices in the other main cities remained negative and were 1.6% in Kaunas, 2.1% in Klaipėda, 3.0% in Šiauliai, and 1.6% in Panevėžys.

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