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From the beginning of the year until August, 2407 new apartments were sold in the capital. Sales were just two percent lower than in January-August 2018, when 2,458 apartments were sold. Last year was exceptional on the market and during the same period – 3,738 apartments were sold.
In August, the highest number of economy class apartments were purchased in Vilnius (<1,800 Eur / m2): 46%. Middle-class apartments no less in demand (1,800-2,700 EUR / m2) - 42 percent. Slower sales of prestigious apartments (from 2700 Eur / m2) - 12 percent.
“After the April shock, the market is gradually recovering: sales almost reached 2018. level. However, developers are cautious about the market recovery and are in no rush to launch new projects. Currently, the supply of new apartments in Vilnius it is the lowest in the last 4 years, since 2017, “says Arvydas Avulis, Chairman of the Board of the real estate development company Hanner. Last year, for 8 months, 3,491 apartments were offered to buyers in Vilnius, and this year alone 2246, almost 36 percent, less.
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