Price increases and a rise in new developments act as proof that residential real estate markets in Baltic and Eastern European markets are recovering.
Data collected in the Ober-Haus Baltic Apartment Price Index showed that last month apartments prices in Vilnius, Lithuania, increased by 0.7 per cent. Annual price change in the city has increased to 3.6 per cent.
A slight fall in prices was recorded in April in other cities in Lithuania. Kaunas, Klaipeda, and Siauliai saw price drops of 0.4 per cent, one per cent, and 1.2 per cent respectively.
Elsewhere, the average apartment transaction value in Tallinn increased 11.1 per cent in April 2011 after decreasing 0.5 per cent in March. The report points out that such variability in the monthly price change was due to more transactions in the more expensive apartment segment.
Overall the index concluded that there are clear signs that property prices are on an upward trend in the Baltic, however, there is still some way to go before they get back to where they were in 2007.
- Monday 23 May 2011