During 2010, 20 percent more apartments were sold in Klaipėda

In 2010, sales of new construction apartments in Klaipėda were stable. In the first three quarters of last year, about 50 apartments were sold directly from real estate developers, and in the last quarter, sales increased slightly – over 60 new apartments were sold. In 2010, as many as 62 percent more new construction apartments were sold in Klaipėda than in 2009.

In Klaipėda, as in Vilnius, the most popular apartments are economy class, the price of which varies from 3000 to 4400 LTL/sq m, and the total price of the property does not exceed 250 thousand LTL. Sales of more expensive new construction apartments in Klaipėda are slow – only 1 or 2 apartments are purchased per month. Prices in this market segment vary from 5000 to 6800 LTL/sq m. During 2010, the average price per square meter of new construction apartments in Klaipėda decreased by about 4 percent, and from the beginning of 2009 to the end of 2010, the price adjusted by as much as 32 percent. According to UAB “Eika” analyst Tomas Žiaugra, this year the price of new apartments in Klaipėda should remain stable.

Real estate developers in Klaipėda are currently offering almost 800 new apartments, of which about 150 are still under construction. According to the market analyst of UAB “Eika”, the supply of new apartments in Klaipėda decreased by 9 percent in 2010. The supply of new apartments remains quite large, but many of the built apartments do not meet the expectations of buyers. In 2011, several new apartment buildings will be added to the supply.

Market analyst T.Žiaugra notes that currently, smaller, functionally designed new-build apartments are attracting the most interest from buyers in Klaipėda. “In 2009 and the first quarter of 2010, apartments up to 50 sq m accounted for 27 percent of new apartment sales, but in the last quarter of 2010, sales of such apartments doubled. The need for smaller apartments in Klaipėda is also confirmed by sales of old-build apartments, with more than 60 percent of apartments up to 50 sq m sold,” says T.Žiaugra.

Founded in 1992, the company “Eika” is one of the largest real estate development and construction groups in Lithuania. The group of companies consists of: UAB “Eika” – a leader in the real estate market, valued for its innovation, reliability and responsibility; UAB “Eikos statyba” – a construction company with extensive experience in the construction and renovation of administrative, public, commercial, industrial and residential buildings; UAB “Inžinerinės idėjos” – specialists in the design, installation and maintenance of engineering systems. The quality of the services of the group of companies is ensured by the implemented Quality standards ISO 9001:2000, Environmental standards ISO 14001:2004 and Occupational Health and Safety standard OHSAS18001:2007