The housing market in the Lithuanian capital have almost reached the pre-crisis level, and real estate is not becoming more expensive anymore, according to ee24.com citing baltic-course.com. The Center of Registers reports that from January to mid-July the number of apartments sold in Vilnius has increased by 32.6% in the annual quantities, while prices in the first quarter increased by only 1.2%, and in the third one even decreased by 3.6%.
Prices remain unchanged, at the same time the demand grows. Experts predict that the balance of supply and demand in the capital's market will continue to remain stable. Despite the fact that buyers in Vilnius traditionally demand a cheaper second homes, apartments in new homes are also selling well, demonstrating the potential of housing.
According to Donatos Kojala, the head of sales in real estate company Akorus, housing market of Vilnius responds to positive changes in the economy of the Baltic state such as low mortgage rates and the stabilization of the labor market.