Baltic Capitals & Polish Cities Apartment Price Indexes, April 2013

Vilnius apartment prices edged up for the third month in a row, rising 0.4% to 1,195 EUR/sqm in April 2013. Still, there was a negative annual change in apartment prices, which decreased 0.5% in March 2013 (a 1.1% annual decrease was recorded in March 2013). The stability in prices and historically low interest rates are having a positive effect on the number of transactions. In first four months of this year the number of apartment transactions in Vilnius increased by 25% comparing with the same period of 2012.

In April 2013, apartment prices in Riga remained stable, with an average price of 991 EUR/sqm. Over the past 12 months, the average apartment price has increased 1.2%. The number of sales-purchase transactions in April 2013 increased 23% compared with April 2012.

The average apartment price in Tallinn decreased 0.4% to 1,206 EUR/sqm in April 2013. Compared with April 2012, the average price increased 10.0%. There were in total 2,395 sale-purchase transactions involving flats during first four months of 2013, which is 14.3% more than in the same period of 2012.

According Ober-Haus Real Estate Advisors data, in April 2013 apartment prices have decreased the most 0.7% in Warsaw and Gdańsk and this brings the average apartment price adequately down to EUR 1,907 per sqm and EUR 1,357 per sqm. In April all other cities saw decreases from -0.6% in Poznań to -0.3% in Cracow. During the last 12 months the price of apartments has dropped from 3.9% in Poznań to 6.2% in Gdańsk. From the highest apartment price level and until April 2013, apartment prices drop from 14.2% in Warsaw to 36.4% in Łódź.

 

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