Evaluators from the Center of registers say the change was mainly affected by the general economic growth in Lithuania and positive demographic tendencies as people's purchasing power is growing and they afford housing. As the population expands, the demands and subsequently the price of housing is naturally going up, therefore a higher average market value is determined.
Moreover, new jobs, business investments into expansion, the arrival of foreign investors as well as good transportation and proper infrastructure are behind the rise in the prices of various real estate.
The average market value of apartments rose 8 percent last year, and increased around 6 percent for stand-alone houses. The price of commercial and office real estate went up by 5-8 percent.
The total average value of all land lots grew around 7 percent in 2019.
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