Real estate

120s: Panic about rouble, 32 Russian tanks entered Ukraine, Lower expectations for real estate prices, A perfect selfie.

Prime Minister Algirdas Butkevičius says that he opposed a universal tax on real estate.

120s: Search for mysterious submarine continues, Real estate tax - not just for the rich, Žalgiris scores victory in Vilnius, Birth of a panda cub in natural environment.

In September, 54 percent of Lithuanians were convinced that housing prices will grow even more in the future. Nevertheless, the house price sentiment index has been falling for a second quarter in a row.

Based on preliminary data on residential property prices provided by the Centre of Registers, in the third quarter of 2014, compared with the second quarter, prices fell only of apartments in old blocks of flats. Nonetheless, prices still exceeded the 2013 level.

As Russia is engaging in aggression against Ukraine, the Baltic states shiver for their own security. Many an investor in Lithuania must have considered how to protect their property in case of a crisis.

According to experts, when seeking to purchase some property, Lithuanians prefer smaller, economical housing up to 100 square meters with 2 to 3 bedrooms.

Ministers of justice and agriculture have established an interinstitutional working group to renew and update laws governing the Real Estate Cadastre and the Real Estate Register.

This year, educational institutions in Vilnius received more than LTL 29 million (EUR 8.4 million) for refurbishment and modernisation of their premises. LTL 14 million (EUR 4.06 million) of the sum was allocated for building a new kindergarten in Santariškės.

As the renovation of apartment blocks is gaining momentum, the Ministry of Environment is planning to establish a special commission to oversee coordination of the renovation process and work control.

Estonian businessman Olav Miil, known as the owner of the ferries that operate between mainland Estonia, Saaremaa and Hiiumaa, has built up an extensive real estate empire and is developing a 30-storey high-rise building in Tallinn, writes Eesti Päevaleht.

More and more wealthy Russians and Ukrainians who are concerned about unstable political and economic situation in their countries are investing in Estonian real estate, writes Äripäev.