No drop in apartment prices recorded in Vilnius in 2010
The Ober-Haus Lithuanian apartment price index (OHBI) for December of 2010, which records changes in apartment prices in the five main Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai, and Panevėžys), increased 0.2%. A decrease of 0.1% was recorded in November.
An increase of 0.4% was recorded in Vilnius in December, just as in November. The greatest impact on the increase in apartment prices in the capital city was exerted by the 0.7% rise in the prices of new and old construction apartments in residential districts. Prices of apartments in the city centre and prestigious districts remained stable or decreased somewhat in some places. For the first time since July 2008, a positive annual apartment price change, which equalled 0.1% in December 2010, was recorded in Vilnius.
In Kaunas, apartment prices increased 0.1% in December 2010, but the annual change in apartment prices in the city was negative and equalled 8.3%. This is the largest apartment price change among the five main Lithuanian cities in 2010.
In Klaipėda, apartment prices remained stable in December 2010. The prices in Šiauliai and Panevėžys dropped 0.1% and 0.3% accordingly. On the annual scale, apartment prices in 2010 dropped 4.9% in Klaipėda, and an annual drop in prices of 3.1% was recorded for both Šiauliai and Panevėžys.
Comparing prices with the highest recorded apartment prices reached in late 2007, apartment prices have dropped 39.8% in Vilnius, 33.1% in Kaunas, 45.4% in Klaipėda, 44.2% in Šiauliai, and 45.7% in Panevėžys.
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