This post was automatically translated into English
In the third quarter of this year, unlike in Vilnius, sales of new apartments grew in both Kaunas and Klaipėda. During the last quarter, 13 percent more apartments were sold in Kaunas than in the second quarter of this year, i.e. 100 new apartments, and in Klaipėda twice as many – as many as 90 apartments.
In the third quarter of this year, unlike in Vilnius, sales of new apartments grew in both Kaunas and Klaipėda. During the last quarter, 13 percent more were sold in Kaunas than in the second quarter of this year, i.e. 100 new apartments, and in Klaipėda twice as many – as many as 90 apartments.
According to preliminary data from the Center of Registers, in the third quarter of 2015, about 1,050 apartments were sold in Kaunas, or 14% more than in the second quarter of this year and just 1% less than in the same period in 2014. In the port city, about 760 housing sales transactions were concluded in the third quarter of this year, i.e. 7% more than in the second quarter of this year and 15% more than in the same period last year.
“In Kaunas, the new housing market is growing for the fifth quarter in a row – from 40 apartments in the third quarter of 2014 to 100 apartments in the last quarter of this year. Such stable growth is attracting increasing attention from real estate developers. Meanwhile, in Klaipėda, the sales that have intensified in the third quarter of this year would be difficult to call a trend. This is the first time in a year that more than 50 new construction apartments have been sold,” says Tomas Žiaugra, development project manager at Eika.
According to the data of the company “Eika”, currently in the temporary capital those looking for housing can choose from 590 new apartments, i.e. 9 percent less than a quarter ago, and in the port city – from 700, i.e. 10 percent more than a quarter ago. In the third quarter of 2015, the supply in Klaipėda was supplemented by four small projects, in which about 130 new apartments were offered to buyers. In Kaunas, during the same period, the market was supplemented by three projects, in which only 45 apartments were offered to buyers.
“If buyer activity in Kaunas remains the same as it has been since the beginning of this year, it is likely that buyers will face a shortage of attractive apartments in the near future or we will finally see a more active supply replenishment in the first quarter of next year. The situation in Klaipėda is slightly different. There will be no shortage of supply in the port city in the near future, as the supply is constantly being supplemented with small projects,” says T. Žiaugra.
In Kaunas, the average price per square meter did not change during the second quarter of this year and currently stands at 1,070 euros. Over the year, the average price of new construction apartments in the temporary capital decreased by 4%. According to an Eika representative, the biggest influence on the change in the average price of new apartments in Kaunas was exerted by new projects, the initial sale price of which was lower than the market average, as well as the adjusted price in economy-class projects in the third quarter of this year. The price was also influenced by the general decrease in supply.
“In Klaipėda, the price of new apartments has also not changed during the quarter and currently amounts to about 1247 euros per square meter, but is 1 percent higher than in October last year,” says the head of development projects at Eika. For comparison, the average price per square meter in Vilnius currently amounts to 1635 euros – which is 31 percent higher than in the port city and even 53 percent higher than in Kaunas.
About the Eika group of companies
Founded in 1992, the company “EIKA” is one of the largest real estate development and construction groups in Lithuania, successfully developing residential, commercial, public and other purpose building projects, creating a new quality of life and work. The company has already built more than 3,000 apartments and 270 thousand square meters of buildings. “Eika” has been awarded many times as the best real estate developer in Lithuania, and the company’s projects “Santariškių namai” and “EIKOs namai Pilaitė” have also become the best in Lithuania.
More information:
Tomas Žiaugra
Development Project Manager
Phone: +370 614 95 491
Email. [email protected]
old.eika.lt
Development Project Manager
Phone: +370 614 95 491
Email. [email protected]
old.eika.lt