The real estate market has been particularly hot in Lithuania last year, with top-priced apartments in Vilnius selling for sums in excess of 2 million euros, according to the Centre of Registers.
“The year 2021 was record-breaking not just by the sheer number of deals, but also by the sum of money spent on housing,” Paulius Rudzkis, data analyst at the Centre of Registers, is quoted in a press release.
Over 160,000 real estate deals were concluded in Lithuania last year, up by a fourth from 2020 (129,000). In the previous record-breaking year, 2019, there were nearly 130,000 deals.
Of these, nearly 40,000 deals involved apartments, up by 20 percent from the previous year. More people were also buying flats as an investment – every fifth purchase was by a buyer already in possession of a residence.
The number of investment flat purchases grew by 29 percent in Vilnius, 21 percent in Kaunas, and whopping 62 percent in Klaipėda, according to the Centre of Registers.
“The results were linked with improving economic situation last year, growing purchasing power and positive expectations as well as favourable credit conditions,” Rudzkis is quoted in the press release. “Apparently, people were inclined to invest their pandemic-time savings into real estate.”
The sum total of housing purchases last year was worth 3.2 billion euros, or 45 percent more than in 2020.
Real estate in Vilnius fetched top prices. Of the top ten biggest deals, eight involved properties in the capital city (half of them on one street), one in Kaunas District, and one in Neringa on the Curonian Spit.
Top 10 highest-worth residential property deals in 2021:
1. Two apartments on Tumėno Street, Vilnius, 3.8 million
2. Apartment on Subačiaus Street, Vilnius, 2.75 million
3. House in Kaunas District, 2.4 million
4. House in Neringa, 2 million
5. Two apartments on Subačiaus Street, Vilnius, 1.9 million
6. Four apartments on Subačiaus Street, Vilnius, 1.9 million
7. House on Smetonos Street, Vilnius, 1.8 million
8. Apartment on Aukštaičių Street, Vilnius, 1.8 million
9. Two apartments on Šiaulių Street, Vilnius, 1.5 million
10. Apartment on Subačiaus Street, Vilnius, 1.3 million
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