News

2015.09.08 10:35

Lithuania's real estate market ends summer with vigour

ELTA 2015.09.08 10:35

Although Lithuania's real estate market in August 2015 was less active than in June and July, it was more active compared to August 2014.

Although Lithuania's real estate market in August 2015 was less active than in June and July, it was more active compared to August 2014.

Based on preliminary data of the Centre of Registers, a total of 9,354 properties, including buildings and land plots, changed hands in August. This stands at 300 real estate transactions per day.

The number of transactions in August 2015 was 10 percent lower compared with July 2015 when 10,400 real estate transactions were recorded. However, 9 percent or 760 more properties were sold in August 2015 compared with August 2014.

By 12 percent fewer apartments were sold in August than in July. 2,500 were sold in August and 2,800 in July. 900 detached houses were sold in August 2015. This is by 5 percent fewer compared with July 2015 when 949 were sold, but by 15 percent more than in August 2014.

The sales of garden houses were sluggish, only 72 of them were sold in August 2015, compared with 236 in August 2014.

 4,647 transactions of land plots were recorded in August 2015, by 6 percent or 300 fewer than in July 2015, but by 15 percent more than in August 2014 when 4,030 were sold.

The decrease in transactions, characteristic for this time of the year, was noticeable in all major cities.