In August, apartment prices were increasing most rapidly in Kaunas and in Panevėžys they were decreasing
2017-09-07
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 0.2% in August 2017. The annual apartment price growth in the major cities of Lithuania was 4.0% (the annual apartment price growth in July 2017 was 4.2%).
In August 2017 the largest price increase was recorded in Kaunas, where prices increased by 0.5% with the average price per square meter reaching EUR 1,013 (+5 EUR/sqm). Apartment prices in Klaipėda in August grew by 0.2% with the average price per square meter reaching EUR 1,032 (+2 EUR/sqm). In Vilnius and Šiauliai was recorded 0.1% apartment price increase with the average price per square meter reaching EUR 1,455 (+2 EUR/sqm) and EUR 606 (+1 EUR/sqm) respectively. Meanwhile, in Panevėžys 0.2% decrease was recorded and the average price per square meter dropped to EUR 564 (-1 EUR/sqm).
In the past 12 months, the prices of apartments grew in all major cities: 4.5% in Vilnius, 4.1% in Kaunas, 2.9% in Klaipėda, 2.8% in Šiauliai and 3.0% in Panevėžys.
The housing market was more active in August this year compared to normal. The number of apartment sales-purchase transactions during August in Lithuania exceeded 3000, making August the most active month of this year. Compared to July 2017 there was an increase in apartment transactions in all cities of the country. Thus, the Lithuanian housing market is accelerating rapidly and the curve of housing prices keeps climbing higher.