Ober-Haus Lithuanian apartment price index

Ober-Haus Real Estate Advisors is presenting the Lithuanian apartment price index (OHBI) supported by the data about prices for apartments and change in these prices collected by the company in the course of the company‘s long lasted business activities. The OHBI shows summarized changes in prices for apartments in the five largest Lithuanian cities (Vilnius, Kaunas, Klaipeda, Siauliai, and Panevezys).

click here to get the OHBI document

For the period since the beginning of estimating the OHBI (in January, 1994) to December, 2007, when the highest price level for apartments was fixed, prices for apartments in the five largest Lithuanian cities increased 8 times. 15 years ago, the average price per square meter was about EUR 200, whereas, as of the moment of top prices, the average price per square meter amounted to EUR 1650. When analyzing the data of the same period assuming that the inflation effect is negligible, it can be estimated that prices increased about 3 times, which means that, since the beginning of 1994 to the end of 2007, prices for apartments on the average increased 3 times compared to increase in prices for other consumer goods and services.

For June, 2009, prices for apartments in Lithuania decreased by 2.9%. The OHBI fixed in June shows that prices for apartments decreased by 27.9% during the latest 12 months.

The baseline period for the OHBI is January, 1994; the baseline value of the OHBI is 100. Data available for the being time enables to analyze changes in prices for apartments for the period over 15 years (186 months).

Starting with June, Ober-Haus Real Estate Advisors will present changes in the OHBI on the monthly basis. The information will be avaiable on the webpage: www.ober-haus.lt.