The rising home prices do not only affect Vilnius, but other towns in Lithuania as well.
The fastest price growth in April-June was registered in Šiauliai, where apartment prices increased by 2.5% compared to a year ago, reaching €585 per square metre, Ober-Haus says.
Apartment prices in Vilnius grew over the same period by 2.4%, to reach €1,376 per sq. m. In Kaunas, prices increased 2.1% to €970 per sq. m.; in Panevėžys 1.8% to €547 per sq. m; and in Klaipėda 1.2% to €1,002 per sq. m.
“Despite negative demographic trends in the country, accelerating growth of prices is recorded not only in the capital city. Favourable economic conditions – new jobs and wage growth, record-low interest rates, the housing market has also been spurred in the cities with shrinking population,” said the head of Ober-Haus market research department Saulius Vagonis.
During the second quarter of this year, 1,395 apartments were sold in the five biggest towns of Lithuania, that is 3% more than in the first quarter of 2016 and 45% more than in the second quarter of 2015.