Real estate development company Eika says that the real estate market remained stable in terms of sales in April. It is noted that the supply of new apartments in Vilnius increased, with the demand for economy-class apartments growing the most.
According to Eika, in April, as many as 5 new real estate projects with 463 apartments appeared on the Vilnius market. Demand for apartments has also grown, especially in the economy class.
Comparing the first four months of the year, apartment sales in Vilnius grew by 5.5 percent: during this period in 2024, 916 new apartments were sold in Vilnius, compared to 868 during the same period last year.
Considering only April, this year’s apartment sales in Vilnius were slightly lower than last year: in 2024, 209 apartments were sold in Vilnius, compared to 233 in April 2023.
The greatest increase compared to last year is felt this year in the economy housing class. In April 2024, 110 apartments of this class were sold in Vilnius, compared to 89 in April 2023, i.e. sales increased by 23.6 percent. In January-April 2023, 340 economy class apartments were sold in Vilnius, compared to 448 in January-April 2024, i.e. the growth reached 31.8 percent.
In the middle class, apartment sales in April 2024 were 32 percent lower than last year: in April 2023, 137 apartments of this class were sold, and this year – 93. However, when comparing a longer period from the beginning of the year, the decrease in sales was not so pronounced and amounted to 12 percent. In January-April 2023, 498 middle class apartments were sold, and in January-April 2024 – 438.
Sales in the prestigious apartment class remained the same as last year. Both in January-April 2023 and in the first four months of 2024, 30 apartments of this class were sold in Vilnius. In April of this year, 6 such apartments were sold in Vilnius, compared to 7 last year.
“Since the beginning of the year, we have been recording slightly higher activity in the market than last year. Naturally, the need for new housing has been accumulating for the last two years and customers are gradually returning to the market. In April, Eika’s sales also remained stable and we continue to move at a similar pace. We are leaders in terms of supply, and in April we also introduced the prestigious apartment project “Senamiesčio sodai”, which is already attracting a lot of interest,” said Tomas Žiaugra, Development Director of Eika Development.