Renovation cost in Lithuania rises 20 percent in one year

The analysis assessed renovation projects that foresee to implement standard energy saving measures – to insulate walls and roof, replace windows and the heating system.

If additional measures are undertaken, such as, alternative energy sources, solar collector or regenerative heating systems, or if balconies are replaced, than the cost may grow to LTL 600-700 (EUR 174-203) per square metre.

Based on the analysis carried out by BETA, the main causes of cost increase are more active housing market in major cities, the lack of skilled construction workers and the increase of blocks of flats undergoing renovation. BETA says that current renovation costs are still lower than the average construction market prices.