Much of the growth has been due to students looking for apartments. The businesses in the market are responding to higher demand and to students’ needs.
The average rental price of the most popular type of apartment – one with two rooms – in Kaunas reached €200, which is about half as much as it is in the capital.
During the summer, apartment rental prices often rise by about 10% every year due to higher apartment rental demand and students arriving in the city.
Saulius Umbrasas, the head of the Ober Haus real estate company’s Kaunas office, said that the city has shown expanded supply as well.
Due to the number of universities in Kaunas, the city also has many students. Because of this, real estate projects have begun taking their needs into account, building more numerous apartments with less space and the infrastructure that meets students’ needs best.