Prices of affordable homes are rising rapidly

The May 2026 reading of the “Ober-Haus” Lithuanian Apartment Price Index (OHBI), which tracks apartment price changes in Lithuania’s five largest cities — Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys — increased by 1.7%. Over the past 12 months, the overall apartment price level in Lithuania’s major cities rose by 12.2%, compared with annual growth of 12.1% in April 2026.

In May 2026, apartment sale prices in Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys increased by 1.6%, 2.1%, 1.9%, 1.3% and 2.1%, respectively. The average price per square metre reached €3,066 (+€47/m²) in Vilnius, €2,206 (+€45/m²) in Kaunas, €1,987 (+€37/m²) in Klaipėda, €1,369 (+€17/m²) in Šiauliai and €1,329 (+€27/m²) in Panevėžys.

Over the year, comparing May 2026 with May 2025, apartment prices increased in all of Lithuania’s major cities: 11.4% in Vilnius, 15.6% in Kaunas, 10.4% in Klaipėda, 13.6% in Šiauliai and 12.3% in Panevėžys.

“Growth in housing market activity in Lithuania’s apartment segment has essentially levelled off this year, but apartment sale prices continue to rise, with the rate of growth remaining high. According to the State Enterprise Centre of Registers, 1% more apartments were purchased in Lithuania between January and May 2026 than during the same period a year earlier, suggesting that housing market activity may have already reached its peak. Nevertheless, the still-high level of housing market activity continues to support price growth.

Looking across all housing segments in the country’s major cities, the fastest price growth is being recorded in the most affordable segment. Housing prices have recently been rising faster than household incomes, forcing a significant proportion of buyers to look for the most affordable homes available in the country’s major cities. As a result, older apartments in established residential districts are attracting particularly strong demand, encouraging sellers to raise their asking prices. Buyers, meanwhile, have virtually no room for negotiation, as there are few alternative housing options available on the market. If overall housing prices continue to rise, competition in the most affordable segment will become even more intense,” says Raimondas Reginis, Head of Market Research for the Baltic States at “Ober-Haus”.