Housing market shows only positive indicators despite worsening population expectations

The Ober-Haus Lithuanian apartment price index (OHBI), which follows changes in apartment sale prices in the five biggest Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys) increased by 1.2% in April 2025. The annual apartment price growth in the biggest cities of Lithuania was 4.9% (a 4.3% increase was recorded in March 2025).

In April 2025 apartment prices in Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys increased by 1.4%, 1.0%, 0.7%, 1.9% and 1.6%, respectively, with the average price per square meter reaching EUR 2,717 (+37 EUR/sqm), EUR 1,865 (+19 EUR/sqm), EUR 1,764 (+12 EUR/sqm), EUR 1,194 (+22 EUR/sqm) and EUR 1,168 (+19 EUR/sqm).

In the past 12 months, the prices of apartments increased in all the biggest cities in the country: 4.3% in Vilnius, 5.7% in Kaunas, 4.9% in Klaipėda, 7.6% in Šiauliai and 7.4% in Panevėžys.

“The country’s housing market continues to show resilience to global and local challenges, with overall market activity growing at an impressive pace and house prices climbing steadily upwards. According to the data of the State Enterprise Centre of Registers, in April this year the number of houses purchased in the country increased by 20% and the number of apartments – by 37% more than in the same month in 2024. The surge in new housing loans is even more impressive – according to the Bank of Lithuania, in the first quarter of 2025, new housing loans were granted in the amount of EUR 726 million, or 82% more than in the same period of 2024. Such a significant increase reflects the rapid growth in the share of homebuyers who use the services of credit institutions.

In April this year, the country’s major cities recorded a slightly higher-than-normal increase in apartment prices, with sales prices rising at their highest monthly rate since late 2022. Although people’s overall expectations about their financial situation or the general economic situation of the country continue to worsen slightly (the consumer confidence indicator has fallen by 6 percentage points since January 2025), the housing market is generally positive and sellers are able to sell homes at increasingly higher prices. Despite the current challenges, the rapid market recovery has strengthened the confidence of both sellers and buyers”, said Raimondas Reginis, research manager for the Baltics at Ober-Haus.

Full review (PDF): Lithuanian Apartment Price Index, April 2025