Lithuania, Real Estate

The greatest price change was recorded for old apartments in residential districts of the capital city, where prices decreased 0.9% over the month, writes LETA/ELTA.

In April, the annual increase in apartment prices in Vilnius was only 0.1% (compared to 1.1% in March) with the average price of EUR 1,202/sqm.

I Inn April 2012, apartment prices in Riga increased by 0.5% and raised average price to EUR 980 /sqm. The same growth was recorded in March. Local buyers are active and show interest in good quality two-three room apartments for an appropriate price.

During the past 12 month the average apartment price has increased by 4.5%.

From the highest price level which was reached in May 2007, until April this year, the prices for apartments in Riga decreased by 57.8%.

Average apartment sqm price in Tallinn decreased by 2.4% to EUR 1,093/sqm in April 2012. Comparing with April 2011, average sqm price have increased 4.4%, mainly because more deals are done with new and more expensive real estate.

During first 4 months of 2012 market has been active, there were 30% more sale-purchase transactions with flats than during the same period last year.