The real estate market in Lithuania “dipped” slightly

The real estate market in Lithuania “dipped” slightly

The real estate market in Lithuania was stable throughout 2012. Prices declined slightly, reports LETA referring to manager of Ober-Haus Valuation Department Saulius Vagonis. “The negative price changes are rather symbolic, so this correction has no significant effect on the overall state of the market”, - said Vagonis.

Prices for apartments in Vilnius fell by 0.1% in December 2012, the average price dropped to 1185 euros per square meter. Negative annual change in prices for apartments was at 1.4% in December 2012 (1.3% decrease was recorded in November 2012).

Despite the decline in prices in Vilnius, the number of sales transactions of apartments increased by 7% in 2012 (6758 in total transactions).

In December 2012, the largest decline in prices was recorded in Panevezys (-0.7%).