Real estate prices in Lithuania fell in the second quarter of 2013

Real estate prices in Lithuania fell in the second quarter of 2013

The cost of housing in the primary market in the capital of Lithuania, as well as throughout the country, remained unchanged or slightly decreased in the second quarter of 2013. At the same time, prices in the secondary market continued to rise, reports ee24.com referring to the Baltic Course.

In the second quarter of 2013, the average price per square meter in the secondary real estate market in Vilnius was €1,069. This is 6.1% more than in the first quarter of this year and 1.4% more than in 2012.

Square meter in the secondary housing market in Lithuania costs an average of €453. This is 0.8% more than in the first quarter and by 4.3% more than in 2012.

Square meter in the primary market of Vilnius in the second quarter of 2013 was worth €1,283. This means that the price increase compared to the first quarter was only 0.2%, as compared to the previous year price rose by only 0.1%. In general, the country prices in the secondary market remained at the level of €660 per square meter, which means a drop in prices by 7.3% compared to the first quarter and by 10.5% compared to the average level in 2012.

Old houses in Vilnius in the second quarter of 2013 were sold at a price of €867 per square meter. This is 4.7% less than in the first quarter, and by 9.2% less than in 2012.

New homes sold at a price of €608 per square meter, which is 12% less than in January-March 2013, and by 16.4% less than in 2012. Outside the capital square meter of new homes were sold for €450, which is 6.8% less than in the first quarter of 2013.

In addition, there is a fall in prices for 4-room flats in the major cities of Lithuania. So, in Kaunas and Klaipeda the real estate costs by €2,800 cheaper than last year. However, in the capital the cost of large apartments remained stable and amounted to €1,000 per square meter.

Text: Ivan Ulitin, ee24.com