Lithuania's property market stabilizing
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Lithuania’s property market is now improving, amidst healthy economic growth. House prices continue to fall, but at a slower pace. Demand is slightly up. Construction activity is rising again.
The apartment price index for Lithuania’s five major cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys) dropped by 0.9% (-2.3% inflation-adjusted) during the year to end-June 2013, according to Ober Haus Real Estate Advisors. This is an improvement from a year-on-year nominal price declines of 1.6%, 1.7% and 1.7% in the previous three quarters.
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