After a two-year break, a positive annual rate of change in apartment prices in Lithuania

The Ober-Haus Lithuanian apartment price index (OHBI), which records rates of change in apartment prices in the five major Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), grew 0.1% in October this year. This is the third month in a row that a gain has been recorded. After a two-year break, an overall positive annual rate of change in prices has again been recorded, and in October it amounted to 0.2%.

The positive change in the price index in October was mainly caused by rising apartment prices for the ninth consecutive month in Vilnius. In October, a 0.3% rise in prices was recorded in the capital city with the average price per square meter reaching EUR 1,208 (+4 EUR/sqm). Throughout the year, the prices of apartments in Vilnius increased by 1.6%, which is a rise of 4.7% (+54 EUR/sqm) since the last lowest price level (May 2010). The price rise in Panevėžys in October was 0.4%, and the average price per square meter increased to EUR 518 (+3 EUR/sqm).

In Kaunas, a 0.3% decrease in prices was observed in October and the average price per square meter fell to EUR 928 (-3 EUR/sqm). In Klaipėda and Šiauliai apartment prices remained the same as in September, 959 EUR/sqm and 550 EUR/sqm respectively.

Saulius Vagonis, Ober-Haus Valuation and Market Research Group Manager:

“According to the latest information from the Centre of Registers, the number of transactions involving apartments remains the highest in Vilnius. In October this year, as many as 864 apartments were sold in Vilnius, 38% more than a year ago. This is the best indicator for the month of October for the past 10 years and such market activity is contributing to the rise in prices.”

Click here to read full report

The Ober-Haus Lithuanian apartment price index (OHBI), which records rates of change in apartment prices in the five major Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), grew 0.1% in October this year. This is the third month in a row that a gain has been recorded. After a two-year break, an overall positive annual rate of change in prices has again been recorded, and in October it amounted to 0.2%.

The positive change in the price index in October was mainly caused by rising apartment prices for the ninth consecutive month in Vilnius. In October, a 0.3% rise in prices was recorded in the capital city with the average price per square meter reaching EUR 1,208 (+4 EUR/sqm). Throughout the year, the prices of apartments in Vilnius increased by 1.6%, which is a rise of 4.7% (+54 EUR/sqm) since the last lowest price level (May 2010). The price rise in Panevėžys in October was 0.4%, and the average price per square meter increased to EUR 518 (+3 EUR/sqm).

In Kaunas, a 0.3% decrease in prices was observed in October and the average price per square meter fell to EUR 928 (-3 EUR/sqm). In Klaipėda and Šiauliai apartment prices remained the same as in September, 959 EUR/sqm and 550 EUR/sqm respectively.

Saulius Vagonis, Ober-Haus Valuation and Market Research Group Manager:

“According to the latest information from the Centre of Registers, the number of transactions involving apartments remains the highest in Vilnius. In October this year, as many as 864 apartments were sold in Vilnius, 38% more than a year ago. This is the best indicator for the month of October for the past 10 years and such market activity is contributing to the rise in prices.”

Click here to read full report

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