In Vilnius, the demand curve was rising upwards, and the price growth in big cities – a two -digit

« Last month, economy -class housing buyers were a bit more active in Vilnius – they bought 57 % of all -month -made dwellings per month (36 % of the middle -class dwellings were bought; prestigious – 8 %).

And, according to her, it was in May that the new supply in the capital’s primary market was far less than usual: just 140 apartments were served in the supply, although the monthly average supply was as high as 716 in the first four months of this year and 324 last year.

Currently, buyers in Vilnius can choose from 5,782 new dwellings, 51 % of whom It consists of economic, 36 – medium and 13 – prestigious class housing. The « warehouse » of new dwellings in the capital increased by 4.5 % over the year, but from 6,060 units per month. decreased by 4.6 percent.

Due to the activity of buyers, the average price growth in the supply of housing also maintains a relatively fast pace: they increased by 1.97 % per month. and reached 3,771 Eur/sq. M. m, since the beginning of the year, growth has already been 8.63 % and 13.02 % per year.

In Kaunas and Klaipėda’s primary markets, May was calmer than April: 68 deals (109 in April), 16 (35 in April) in the port city (35 in April). In Kaunas, in May, last year’s demand was 50 and Klaipeda – 9 dwellings.

The assortment of housing in Kaunas grew 100 pieces. And now it consists of 1,106 units and increased by 14.6 percent a year. However, according to the head of the Citus analysis department, he is still relatively small, which is why the market dynamics in the second largest city in Lithuania are slower. It is true that as much as 22 percent in Kaunas. – Consists of the supply of prestigious class housing, which is why mid -range housing (24 %) is likely to be formed.

The price growth here also remains quite rapid: in May they amounted to 2,972 Eur/sq. M. m increased by 2.89 % per month and by 13.42 % per year.

In Klaipeda, no new home sales were started in May, so the assortment of housing contracted by 2.3 percent. up to 558 pcs. Although Citus analysts have recorded 14 percent since the beginning of the year. The choice of supply growth for the whole year, the choice for buyers decreased by 2.3 percent.

The average prices in the primary market supply are still very felt a few months ago, a particularly luxurious new supply effect – at the end of May, the price per square meter of housing was 323 Eur, and a month of 0.43 percent raised.

Citus itself entered into 41 transactions in May all over Lithuania. The most successful result was recorded in Druskininkai Apartments Complex | Nemunas by Citus « , selling as many as 16 apartments. In Vilnius, the project » Munai by Citus « , » As in New York by Citus « , » Lake paths by Citus « and » Old Town Towards Citus « .

The Citus range currently consists of 162 apartments in the capital, 133 apartments in Druskininkai and 10 apartments in Neringa, Nida Waves by Citus.

Changes in housing affordability in the first quarter

“The rise in housing prices is still a bit of an amortization of the Euribor decline, which has been going on for some time and is good news. Also, the arrival of Revolut Bank into the home loan market, although it is not yet visible, could positively influence buyers’ ability to borrow and buy a home, ”said Savost.

Spruce Savost. Photo by Citus Archive

However, in the first quarter, according to Citus analysts **, the affordability of housing in Citai in Vilnius and Klaipėda has decreased slightly: one person earning the average wage and buying a home with a loan (Citai i), in Vilnius, could buy 36.62 sq. M. m and 43.26 sq. M. m, even after eliminating the statistical price jump in February. The couple buying a dwelling (Cithai II) in the same circumstances would buy 69.57 sq. M. m, 82.19 sq. M. m.

These indicators, respectively, were 0.53 and 0.99 percent. less than 2024. in the fourth quarter, but 20.08 and 18.43 percent. more than a year earlier.

But E. Savostas, Head of Analysis at Citus, recommends not to dramatize the situation.

« On the one hand, in December, the last quarter of the last quarter Citai indexes, the pronounced wage growth was visible, due to bonuses paid at the end of the year, dividends and the like, and Euribor continued to decline, resulting in the next quarters, evaluating the remaining wage growth,

In Kaunas, meanwhile, the improvement of affordability was further observed: the Citai I index was 39.62 sq. M. m, and Citai II – 75.28 sq. M. m. It was 0.94 percent. more than in the previous quarter and 17.78 percent. more than a quarter of a year ago.

Currently, 6 months are the most relevant to home buyers. Euribor interest rates are 2.069 % and, due to the further forecasting of the European Central Bank’s interest rate, the year at the end of the year should reach 1.5 percent.

*Citus analysts calculate preliminary transactions for the purchase of apartments and cottages in their original home market demand. The cottages are included in this number because, formally, most cottages are attributable to apartments and are relevant to home buyers. Also, the outcome of the current month does not eliminate the termination of market framework contracts, which are usually related to previously concluded transactions and therefore do not show demand for the current month. Occasionally, sales result are increased due to sales of previous months, which results in a specific month recorded, but larger « falls » are recorded and the data are constantly updated, resulting in a longer period of discrepancy.

** Wage statistics presented by public authorities and affect the Citai Cithai Index for Citus Analysts Analysts, and are publicized with delay.