Lithuania, Real Estate
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Friday, 19.04.2024, 13:57
Home rental prices in Lithuania expected to go down in 2016
BC, Vilnius, 19.01.2016.
Print version
Print versionTenants say that home rental costs have risen considerably in the year since the changeover to the euro, but life should be easier for them in 2016 as some analysts forecast that rents may go down, the daily Lietuvos Zinios reported on Tuesday, cites LETA/BNS.
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"As the supply of housing for rent is around 20-25 percent higher than in the summer peak season, rising heating bills and tighter competition in the colder months will put increased pressure on landlords to lower prices," Arnoldas Antanavicius, head of the Investment and Analysis Department at the real estate firm Inreal, told the paper.
Marius Ciulada, manager of the Vilnius Old Town Office at Ober-Haus, attributes the rise in rents in 2015 to euro adoption and an increased supply of new-build flats.
The analyst does not forecast a decline in rents this year. He notes that their growth could be halted by an economic downturn, a drop in property prices or a sudden fall in demand.
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