Housing market is buzzing in July
The Ober-Haus Lithuanian apartment price index (OHBI), which records changes in apartment prices in the five major Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), increased by 0.8% in July 2019. The annual apartment price growth in the major cities of Lithuania was 6.2% (the annual apartment price growth in June 2019 was 5.6%).
In July 2019 apartment prices in the capital grew 0.8% with the average price per square meter reaching EUR 1,566 (+12 EUR/sqm). Since the last lowest price level recorded in May 2010 prices have increased by 35.7% (+412 EUR/sqm). Apartment prices in Kaunas, Klaipėda, Šiauliai and Panevėžys in July grew by 1.0%, 0.4%, 1.2% and 1.9% respectively with the average price per square meter reaching EUR 1,117 (+11 EUR/sqm), EUR 1,102 (+4 Eur/sqm), 712 (+8 EUR/sqm) and EUR 700 (+13 EUR/sqm).
In the past 12 months, the prices of apartments grew in all major cities: 5.7% in Vilnius, 6.3% in Kaunas, 4.3% in Klaipėda, 11.6% in Šiauliai and 14.2% in Panevėžys.
“The month of July in the Lithuanian apartment market was really exclusive. According to the State Enterprise Center of Registers, over 3,060 apartments were purchased in July in Lithuania, which is the best monthly performance in the market’s history. A further increase in the apartment sales prices has been recorded in all major cities of the country. The price increase in all major cities combined was the same as that in June, while the annual growth rate was the highest since mid-2008. The housing market is certainly buzzing,” Raimondas Reginis, Ober-Haus Research Manager for the Baltics, said.
Full review: Lithuanian Apartment Price Index, July 2019 (PDF)