Apartment sales grew in Kaunas and Klaipėda

According to preliminary data from the Center of Registers, in the first quarter of 2013, about 720 apartments were sold in Kaunas, or 3% more than in the same period last year. In Klaipėda, about 520 apartment sales transactions were concluded, which is almost 4% more than in the first quarter of 2012.. Comparing sales with the last quarter of 2012, housing transactions in Kaunas decreased by 4%, in Klaipėda – by 5%. 

According to the calculations of Eika market analyst Tomas Žiaugra, sales directly from real estate developers in Kaunas in the first quarter increased by almost 60% compared to the end of 2012 and by 62% compared to the beginning of 2012. 50 new apartments were sold in Kaunas. In Klaipėda, about 60 new apartments were purchased in the first three months of 2013, almost 50% more than in the previous quarter, but compared to the beginning of 2012, sales did not increase.

Considering the ratio of housing sales transactions to the number of residents, the most active home buyers are Klaipėda residents. In Klaipėda, there were 3.3 sales per thousand residents in the first quarter of this year. In Vilnius, an average of 3.0 apartments were sold per thousand residents during the quarter, and in Kaunas – 2.3.

During the first quarter, the prices of new apartments in both cities fluctuated within 1%. “There have been no significant changes in the price of new apartments in the market since the end of 2010. Developers of new projects are trying to compete not with prices, but with more compact and functionally designed apartments, which are lacking, especially in Klaipėda,” says the market analyst at Eika. In Kaunas, the average price per square meter of a new apartment is currently 3,800 litas, in Klaipėda – 4,300 litas. In Kaunas, the prices of new apartments decreased by 3% over the year, in Klaipėda – increased by 3%.

According to preliminary data from the Registers Centre, at the beginning of 2013, the most purchased new apartments in Klaipėda were 35-40 square metres in area, which accounted for about 24% of sales.  Almost half of the new apartment transactions ranged in value between 200 and 300 thousand litas. In Kaunas, traditionally the most popular are apartments over 100 square metres in area, which accounted for 33% of new apartment sales. According to the calculations of the Eika market analyst, in Klaipėda during the last quarter the supply of new apartments in built and under construction apartment buildings did not change and currently amounts to about 740 apartments. In Kaunas during the first quarter of this year the supply of new apartments decreased by 12% and currently amounts to about 290 apartments.

According to the data of the Center of Registers, the most popular apartments in the secondary market in Kaunas and Klaipėda are one-room apartments with an area of ​​up to 30 square meters and a sales price not exceeding 100 thousand litas.

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.