In the first quarter of 2025, the real estate market in Vilnius continued to grow rapidly both in terms of sales and the supply of new housing. During this period, as many as 50 percent more apartments were sold in Vilnius than in the previous quarter, and more than 2,100 new apartments were added to the supply during the quarter. Price growth also continued, averaging 2.2 percent per quarter.
According to EIKA Development, 1,645 apartments were sold in Vilnius in the first quarter of the year, compared to 707 in the same period last year, which means that sales increased 2.3 times. The growth is also visible in comparison with the previous quarter, that is, in October-December 2024, when 1,097 apartments were sold, so in three months, sales of new apartments in Vilnius increased by 50 percent.
The largest number of mid-range apartments sold in the last quarter of the year – 851, economy class – 748, and prestigious – 46.
The first quarter of the year was also marked by a significant increase in the supply of apartments – during it, 2,139 new apartments were offered to the market, compared to 767 in the last quarter of 2024 and 1,115 in the first quarter of last year, so this year these numbers are almost twice as high. New apartments were offered in a similar way in the economy (1,014) and medium (1,109) classes, and no new prestigious class apartments appeared on the market this quarter.
In total, 4,479 new apartments are currently offered on the Vilnius real estate market, of which 2,104 are economy class, 2,025 are medium class, and 350 are prestigious. In terms of completion, 1,121 are completed and are being completed, 3,358 are under construction, that is, 75 percent of all new housing units offered on the market are currently still under construction. For comparison, in the first quarter of last year, there were 60 percent of such units. The fact that so many new apartments are being built on the market while many are still unfinished indicates that further market growth is expected.
Compared to the previous quarter, an average 2.2 percent increase in apartment prices is visible. In the first quarter of 2025, the average price per square meter in an economy class apartment reached 3,048 euros, in a middle class – 3,879, in a prestigious class – 6,421, and the total average price – 3,687 euros. The prices of middle class apartments grew the most, by 6.7 percent, in an economy class the growth reached 4.9 percent, in a prestigious class – 1.4 percent.
“The activity in the housing market since the beginning of the year has been encouraging and is becoming a trend, rather than growth influenced by individual projects, which is a good sign for all investors. Residents are also making decisions about purchasing housing much more boldly and quickly at the beginning of 2025, which is why the number of vacant apartments built on the market is rapidly decreasing. We, in turn, are also making every effort to have something to offer our clients and are determined to continue growing this year,” said Tomas Žiaugra, Development Director of EIKA Development.