2024-07-18 10:02:52
According to the agency, in 2024 in May, the annual growth reached 2.7 percent.
During the year, apartment prices grew in all major cities of the country: Vilnius – 2.5 percent, Kaunas – 3.2 percent, Klaipėda – 5.3 percent, Šiauliai – 4.9 percent. and in Panevėžys – 4.2 percent.
Ober-Haus market research manager for the Baltic countries Raimondas Reginis says that the housing sales price curve in big cities basically coincides with the price dynamics of consumer goods and services in Lithuania. According to him, although in nominal terms real estate prices grew by as much as 36.5% in 3 years, such growth does not stand out in the context of inflation, which reached 31.8%, so real housing prices increased by only 3.4%.
“According to the data of the State Data Agency, in June 2024, the annual inflation calculated according to the harmonized consumer price index amounted to 1.0 percent, while the sale prices of apartments grew by 3.3 percent during the same period. Consequently, the real sale prices of apartments, after eliminating inflation, grew by 2.2 percent in the country’s big cities during the year,” explains R. Reginis.
“This already long enough period is characterized by the smallest gap between housing prices and the change in inflation, and, looking historically, we recorded a very similar situation only in the period of 2013-2015. And this is good news for potential home buyers, because after the contraction of inflation, the growth of real wages has accelerated and housing affordability indicators are gradually improving,” he asserts.
According to “Ober-haus” in 2024 in June, apartment sales prices in Vilnius increased by 0.5 percent, and the average price per square meter was 2.615 (plus 12 EUR/m²), in Kaunas – by 0.7 percent. and 1.778 (plus 12 Eur/m²), in Šiauliai – 0.9 percent. and 1.131 Eur (plus 11 Eur/m²), in Panevėžys – 0.4 percent. and 1, 103 Eur (plus 3 Eur/m²). At that time, 0.1 percent was recorded in Klaipėda in June. the decrease in apartment prices and the average price per square meter amounted to EUR 1,687 (minus EUR 2/m²).
2024-07-18 10:02:52