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According to preliminary data from the Center of Registers, in the first quarter of 2012, about 650 apartments were sold in Kaunas, or 14% more than in the same period in 2011.
According to preliminary data from the Center of Registers, in the first quarter of 2012, about 650 apartments were sold in Kaunas, or 14% more than in the same period in 2011. In Klaipėda, about 500 housing sales transactions were concluded, i.e. 2% more than in the first quarter of 2011..
About 50 new apartments were purchased directly from real estate developers in Klaipėda during the first months of this year, or 19% more than in the first quarter of 2011. In Kaunas, sales of new apartments in the first quarter were lower than in Klaipėda, with only 30 new-build apartments sold. Compared to the first quarter of last year, new apartments were purchased in Kaunas by as much as 45% less. According to the calculations of UAB “Eika” analyst Tomas Žiaugra, Klaipėda leads in terms of sales of new-build apartments per thousand residents. In the first quarter of 2012, there were almost 3 new-build apartment sales per thousand residents in the port city, 2.5 sales transactions in Vilnius, and less than 2 apartments in Kaunas.
According to preliminary data from the Center of Registers, in the first quarter of 2012, the most purchased new apartments in Klaipėda were from 55 to 65 sq. m. m. Unlike in Klaipėda, in Kaunas, new apartments over 100 sq. m. m. are traditionally the most popular, accounting for about 18% of sales. According to T.Žiaugra, the majority of these transactions are cottages located on the outskirts of the city, which Kaunas residents prefer because of the simultaneous acquisition of rights to a land plot.
Since the beginning of 2012, the average price of newly built apartments in Klaipėda has decreased by 3% to 4,170 litas per square meter. “The price fluctuation was influenced by the sales of two new apartment buildings that started at a lower than average market price,” says T. Žiaugra. In Kaunas, the average price of a newly built apartment per square meter has not changed since the beginning of the year and amounts to 3,870 litas.
According to market analysts, in Klaipėda, the supply of new apartments in built apartment buildings decreased by 3% in the first quarter of the year and currently amounts to about 740 apartments. At the beginning of the year, the supply was supplemented by about 70 new apartments in two apartment buildings. Meanwhile, in Kaunas, the supply of new apartments decreased by 2% in the first months of this year and currently amounts to 300 apartments. In the first quarter of this year, new projects did not supplement the housing supply 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. 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
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More information:
Tomas Žiaugra
Project Manager
Phone: +370 5 2045 810
Fax: +370 5 2514 256
Email: [email protected]