Lithuania, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 00:50

Apartment prices in June dropped most in history of Lithuanian housing market

Danuta Pavilenene, BC, Vilnius, 12.08.2009.Print version
Apartment prices have decreased by 0.9% in the five major Lithuanian cities (Vilnius, Kaunas, Klaipeda, Siauliai and Panevezys). For June 2009, prices of apartments in Lithuania decreased by 2.9%, shows the Lithuanian apartment price index (OHBI).

The OHBI fixed in June shows that prices of apartments decreased by 27.9% during the latest 12 months, which is the largest drop in prices over the entire history of the Lithuanian housing market.

 

For the period since the beginning of estimating the OHBI (in January, 1994) to December, 2007, when the highest price level for apartments was fixed, prices for apartments in the five largest Lithuanian cities increased 8 times.






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