Real estate

Foreign investment in Lithuanian commercial real estate rose 6% in the first three quarters of 2015 to hit €183 million compared to the same period last year.

Up until now, the only information about foreign real estate held by Lithuanians that state institutions could access was whatever the owners themselves declared, or by initiating an individual inquiry with authorities in another country.

Real estate tax collection and revenues will be handed over to municipalities to encourage them to implement the taxes more stringently under new proposals from Finance Minister Rimantas Šadžius.

A sudden rise in apartment rents, especially in Vilnius, after the adoption of the euro has no "rational basis", says Danske Bank economist Rokas Grajauskas, adding that he expects rents to go down this year.

Lithuanian nationals who own real estate in other European Union countries might have to explain its provenance to tax authorities.

After the Constitutional Court approved a change to real estate tax codes last fall, real estate tax revenue dipped by a third from more than €1.5 million to half a million.

Last week, the Lithuanian government published a report on efforts to fight the black market. The government says inspectors have uncovered transactions worth over half a billion euro. Unfortunately, there are still areas relatively immune to anti-black-market efforts, the chief among them being ill...

A gap between housing prices in Vilnius and other towns in Lithuania is growing. While apartments in Vilnius are becoming more expensive, apartment prices in Kaunas, Šiauliai and Panevėžys are stable or even dropping.

Lithuanian commercial banks are revising their expectations of real estate prices. A year ago, banks hoped that housing, particularly new developments, will see a rise in prices, while in a survey performed this autumn there wasn't a single bank expecting a rise in housing prices, the Bank of Lithua...

Between January and September 2015, real estate developers sold 2,650 new apartments in Vilnius, 8 percent more compared with the same period last year. Supply in a year grew 26 percent, to 4,200 apartments.

Although Lithuania's real estate market in August 2015 was less active than in June and July, it was more active compared to August 2014.

The Lithuanian Architects Union on Monday hosted a public discussion on one of the major development sites in central Vilnius, the Sports Palace and Žalgiris Stadium.

According to the real estate agency Ober-Haus' Baltic Apartment Price Index, apartment prices in Vilnius grew 0.3 percent to EUR 1,298/sqm in June.

The expectations of commercial banks about real estate prices have changed essentially over a year - there have remained almost no banks projecting housing price increases, while last spring such banks represented more than a half, said the Bank of Lithuania.

The enterprise Promola of the Hanner Group acquired the real estate located at the territory of Žalgiris Stadium in Vilnius previously owned by the subsidiary companies of Šiaulių Bankas. The total value of the transactions exceeds EUR 40 million (VAT is not included), Šiaulių Bankas said in a state...

In the last quarter of 2014, Lithuania saw the second largest decrease in housing prices in the European Union (EU) - it amounted to -4.3 percent, Eurostat, the statistical office of the EU, reports.

Activity in Lithuania's real estate market increased by nearly 16 percent in March 2015.

According to Swedbank, the average housing loan in Lithuania has continued to grow. In 2014, it was EUR 44,800, EUR 2,000 more than in 2013. Meanwhile, the average repayment period, at 21 years, has remained the same for several years in a row.

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Lithuanian commercial banks expected a sharp rise in real estate prices early next year, but now they have reduced expectations. The number of banks expecting real estate prices to increase has halved, while most think that prices will not change.