Oct 7, 2009
Monthly Lithuanian real estate review: September 2009
Ober-Haus Real Estate Advisors is presenting the Lithuanian apartment price index (OHBI), which shows summarized changes in prices for apartments in the five largest Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai, and Panevėžys).
In September Lithuanian real estate prices declined 1.8% m/m and 30.3% y/y. Record setting continues. This September was the worst ever for the real estate in Lithuania.
Last month prices fell 24% year to date and 35.5% since top in December 2007. Real prices also continue to decline – inflation exacerbates poor situation of real estate holders.
Real estate price index (OHBI)
September was 16th consecutive month of deteriorating real estate prices. But that’s logical – if people cut spending on most vital goods new flat is the last thing they would like to purchase. Probably prices call fall another 40% in real terms to erase the bubble peak during 2005-2008.
OHBI index change
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