We will take care of
all real estate issues
Latest news
All news
Real estate markets in the Baltic countries are experiencing varying degrees of difficulties, yet at the same time opening up opportunities for the most active participants
The year 2023 was full of challenges for the real estate markets of the Baltic countries showing some early signs of this back in 2022. Last year, Baltic countries saw an economic slowdown, declining activity in the residential and commercial real estate market, rising number of unsold apartments, higher office vacancy rates and slowing construction volumes. According to the Ober-Haus annual Real Estate Market Report on the capital cities of the Baltic countries, it is clear that the sentiment of homebuyers, businesses and investors alike has slumped and confidence in the Baltic real estate market as a whole has further eroded. While the general sentiment of the real estate market participants is similar across the Baltic countries, the overall impact of global factors (Russia-Ukraine war, high inflation, interest rate hikes) differs to a varying degree. “Since the real estate market in Latvia and its capital city has lacked fast growth in the last five years, the impact of the current challenges is not as tangible as in other countries,” Raimondas Reginis, Head of Market Research for the Baltics at Ober-Haus, said. Meanwhile, real estate markets in Estonia and Lithuania experienced an investment boom in the aftermath of Covid-19, resulting in…
A more favourable house price to wage ratio for buyers in 2023 and 2024
Ober-Haus Apartment Price Index for Lithuania (OHBI), which captures changes in apartment prices in the five largest Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys), increased by 0.2% in February 2024. The overall level of apartment prices in Lithuania's major cities has grown by 2.2% over the last 12 months (annual growth of 2.1% in January 2024). In February 2024, the sales prices of apartments in Vilnius, Kaunas and Klaipėda grew by 0.3%, 0.3% and 0.1%, respectively, and the average price per square metre amounted to EUR 2,589 (+8 Eur/m²), EUR 1,751 (+6 Eur/m²) and EUR 1,651 (+1 Eur/m²). Meanwhile, Šiauliai recorded a 0.2% decrease in apartment prices in February, with the average price per square metre amounting to EUR 1,095 (-3 Eur/m²). In Panevėžys, the average price per square metre remained unchanged at EUR 1,075 per square metre. Over the year (February 2024 compared to February 2023), apartment prices grew in all major cities of the country: in Vilnius - by 1.8%, in Kaunas - by 3.2%, in Klaipėda - by 3.0%, in Šiauliai - by 1.7%, and in Panevėžys - by 1.8%. "Although the cold snap that has gripped the country's housing market is not going away yet,…
The cumulative effect of several years of housing market activity decline, suggests around 40% lower construction volumes in 2024
Over the past few years in Lithuania, we have seen a rapid decline in housing market activity, which has impacted the volume of new housing developments. However, apartment building developers in the country’s major cities have been facing the toughest challenges lately, with very modest apartment sales figures in the period 2022–2023. According to Ober-Haus, compared to the record activity of 2021, in 2023, the sales of apartments in the primary market were down by 68% in Vilnius, 55% in Kaunas, and 57% in Klaipėda. “Despite the two- to three-fold decrease in the sales of newly-built apartments, a very high number of apartments were nevertheless completed in the country’s major cities in 2023, because the development of these projects had begun during 2021 and 2022,” said Raimondas Reginis, Head of Market Research for the Baltics at Ober-Haus. According to Ober-Haus, in 2023, developers in Vilnius built 4,915 apartments for sale – 18% more than in 2022. When considering the last two decades, this is one of the highest figures, second only to those in 2007, 2008 and 2020, when more than 5,000 apartments were built for sale. In 2023, 52 different apartment projects (including ongoing project phases) were available for…
All news
Vilniaus Džiazas
K. Vanagėlio str., Oldtown, Vilnius
This is a housing project, changing the access to the Old Town and harmoniously integrating into the historic center of Vilnius – just a few minutes to the Gates of Dawn, Barbakanas Hill. Exclusive apartments in Vilnius Old Town invite residents to discover the highest standards of living quality
Read more
Gardino 22
Gardino str., Rasos, Vilnius
Created sustainably and with great respect for the environment, a small 15-apartment residential building is developed for those who want to feel a connection with nature. Spacious and rational apartment layouts, large balconies, and terraces will allow you to enjoy quality relaxation, forgetting about the daily chores and worries.
Read more
Sidaronių namai
Sidaronių str., Pilaitė, Vilnius
A new cozy and small apartment and cottage project Sidaronių namai is being developed in the western part of Vilnius. We offer 2 and 3-room apartments with balconies or terraces and 113.99 m² and 112.34 m² cottages with a yard.
Read more
Beržų namai
A. Juozapavičiaus str., Žemieji Šančiai, Kaunas
A residential project designed for the modern urban dweller, allowing to enjoy a balanced flow of life. Settle in an exclusive location in Kaunas and enjoy the true prestige of our times – the opportunity to guarantee peace, safety, and comfortable living for yourself and your family.
Read more
Dubysos namai
Smėlynų str., Ariogala
On the left bank of the Dubysa River, surrounded by exceptional nature in Ariogala, a new residential building with 89 apartments is being developed. We offer spacious 55–110 m² and comfortably designed apartments suitable for both families and investment.
Read more
eMarketCity
Eišiškių pl., Kirtimai , Vilnius
The online and wholesale shopping town eMarketCity is oriented towards medium and small businesses that are looking for warehouse, office, and commercial spaces in one place. In a 3.9 ha territory, 7 buildings are being developed, totaling over 20,000 m² of spaces that can be adapted to specific business needs.
Read more
Liepų parko namai
J. Janonio str., Kačerginė
This is a project of two A++ class twin houses in the resort town of Kačerginė, in a quiet location in front of the Liepų Park. The project includes houses with an area of 147 m² with outdoor terraces and 4.2 a courtyards.
Read more
Market reviews
Looking for an expert?
Our team includes more than 140 real estate professionals throughout Lithuania
Find an expert
Searching for an office near you?
The company’s wide geography allows it to provide the highest quality services in any area of Lithuania
Find an office
Interactive map of business centers in Vilnius
An interactive map of business centers OHMAP helps find all administrative buildings with a minimum of 1,000 sqm useful area in Vilnius built since 1999
Go to ohmap.lt
Ober-Haus celebrates 25 years in Lithuania
Ober-Haus celebrates its 25th anniversary in Lithuania. Over the years, we have grown into a large and united team and have established ever-growing, long-term partnerships based on mutual trust. Thank you for your trust!
ABOUT US
Baltics Real Estate Market Report 2024
READ MORE