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Introduction

Lithuania is the largest of the Baltic states and borders Russia, Belarus, Latvia and Poland.

Although the largest of the Baltic states it has one of the smallest coastlines at approximately 160 km, which face the Baltic Sea. If this could be considered a negative, one could argue that the splendour of the capital city Vilnius makes up for the disappointment. Vilnius contains a collection of Baroque architecture that is unmatched in Europe and centrally, the capital benefits from a lively cafe culture with a number of fine restaurants and shops.

The Lithuanian economy has been historically one of the strongest economies of all Baltic States over the past few years and analysts predict that the country will top the 5% gross domestic product barrier for the sixth straight year in 2005.

The strong economy and accession into the EU in 2004 have been strong drivers for the property market and this can be evidenced by property prices increasing by 50% on an annual basis in many areas of Vilnius. The increases can also only be helped by the lack of restrictions towards foreigners buying property in the country.

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