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"Such rapid growth was determined by increase in trade in agricultural land. Farmers, being aware of land sale restrictions that will come into effect in 2014, were more active last year in expanding their property," said Aurelijus Cvilikas, Head of Risk Management Group at the Lithuanian Central Credit Union.

Private persons used credits for purchasing land more often as well. In 2013, credit unions, which belong to the Lithuanian Central Credit Union, granted private persons loans amounting to LTL 50.7 million (EUR 14.7 million) or 38% more than in 2012.

The average amount of a credit for purchasing land remained the same as in 2012, it accounted for LTL 64,000 (EUR 18,500).

There are 75 licensed credit unions operating in Lithuania, whereof 62 belongs to the Lithuanian Central Credit Union and the National Credit Union Association.