Lithuania, Real Estate

"The process has moved on and it seems that is very important that residents themselves have understood that it must be done . There will be much saved in time, and living conditions, comfort will improve, heating costs will be reduced, the value of assets will increase, not only buildings but also blocks will look better as renovation means not only saving heating costs but also other things," stated Minister of Environment Kestutis Treciokas.

According to estimates, each of the renovated apartment-blocks will save more than 50% of heating costs, while in total all the 300 renovated buildings will save around 86.7 gigawatts of heating per hour, it would allow saving LTL 26 million (EUR 7.5 million).

After the renovation of these 300 apartment-blocks, emissions of carbon dioxide per year will be reduced by 20,200 tonnes.

According to the data provided by the Ministry of Environment, 604 apartment-blocks are currently undergoing renovation; construction contract tenders are taking place for the renovation of another 227 apartment-blocks.