More apartments were sold in Kaunas and Klaipėda in 2011

Last year, 180 new apartments were purchased directly from real estate developers in Klaipėda, an average of 15 apartments per month, i.e. about 16% less than in 2010. In Klaipėda, sales of new apartments were stable throughout the year, with only the second quarter standing out, when about 24% more apartments were sold than in the remaining quarters of the year. In Kaunas, as in Klaipėda, sales were stable, but in the last quarter of the year, about 20% fewer new apartments were sold. Over the past year, a total of about 230 sales transactions for new construction apartments were concluded in Kaunas.

Compared to other major Lithuanian cities, sales of new apartments in Klaipėda last year were about 18% lower than in Kaunas and accounted for only 15% of new apartments sold in Vilnius. When comparing sales per thousand residents, Vilnius remains the leader among other cities – in terms of sales of new apartments, it is 2.2 times ahead of Klaipėda and 3.2 times ahead of Kaunas.

According to preliminary data from the Center of Registers, in 2011, the most purchased apartments in Klaipėda were those priced between LTL 200 and LTL 250 thousand, which accounted for 42% of all new housing sold. Most often, Klaipėda residents purchased 2-3-room apartments with an area of ​​50 to 65 sq m. m. Unlike in Klaipėda, in Kaunas, new housing over 100 sq m was the most popular, accounting for about a third of sales. In Kaunas, the value of 31% of new housing transactions was between LTL 150 and LTL 200 thousand.

The prices of new apartments in Klaipėda remained almost unchanged in 2011 and currently the average price per square meter is about 4,300 litas. The average price of new housing in 2011, compared to major Lithuanian cities, decreased the most in Kaunas – by 8% to the current 3,870 litas per square meter. “The decrease in the price of new apartments in Kaunas was not due to discounts, but to updated projects, which supplemented the supply with apartments cheaper than the market price.” – says T. Žiaugra, market analyst at UAB “Eika”.

According to market analysts, the supply of new apartments in Klaipėda in built apartment buildings increased by 11% over the year and currently amounts to about 760 apartments. The supply was supplemented during the year with several new apartment buildings in the quarters whose development started 4-5 years ago, which attracted the greatest interest from buyers in both 2010 and 2011. According to T. Žiaugra, last year as much as 60% of new construction apartments in Klaipėda were sold in just three different projects. Meanwhile, in Kaunas, the supply of new construction apartments decreased by 14% over the year and currently amounts to about 840 apartments, of which as much as 500 apartments are in suspended projects.

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.