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Surprised by the price changes
Simona from Vilnius and her friend went to study abroad for a year. The girl remembers that a year ago, the two rented a newly built 2-room apartment in the center of Vilnius for around 500 euros, and now they can’t find anything for a similar price.
“Prices for similar apartments closer to the city center range from 600-650 Eur. When we came back, we were surprised because both the choice was scarce and the prices went up a lot. This week we will have several inspections in the Old Town, we will probably pay the same, because there is no other option ”, says Simona.
Prices have doubled in a decade
In recent years, real estate sales prices (RE) in Lithuania have grown faster in Europe. House rental prices are not lagging behind either, and Lithuania is among the top EU countries. According to Eurostat, they have more than doubled in the country in a decade. This is the second most important change in the EU.
According to data from the Department of Statistics, since 2015. Housing rental prices in Lithuania increased by 30%.
Jurgis Vilutis, director of long-term lease management platform Valdantis, an investor-practitioner, notes that rental prices are increasing due to a better offer of better quality on the market, and the growth itself is segmented.
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