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Investment

Lithuania joined the EU in 2004 and since this time, property pricing in the country has increased at a tremendous rate in particular in the capital Vilnius where centrally located newly built apartments have been increasing in price by 50% on an annual basis since 2004. This fact has not been unnoticed by property investors. This can be proved by the fact that in 2004, 3,000 new properties were built and 95% of these were purchased prior to completion.

It is possible for foreigners to freely purchase property in Lithuania and this can largely explain the property price explosion.

Vilnius is the epicentre of the price increases and arguably has the most attractive old town area of any of the Baltic capital cities, yet prices are still at the lower end of the spectrum. However, this could change fairly drastically as the price of apartments in Vilnius and the surrounding suburbs have been increasing by 20% on an annual basis since the country’s admission to the EU.

There are no signs of a slow down in the property market and there are numerous new developments continuing to be announced.

Prices for house purchases in Vilnius are as follows:

€120,000 for a 2 bedroom property
€151,000 for a 3 bedroom property
€216,500 for a 4 bedroom property

Prices for apartment purchases in Vilnius are as follows:

€28,500 for a 1 bedroom property
€41,500 for a 2 bedroom property
€63,000 for a 3 bedroom property

Prices for weekly property letting in Vilnius are as follows:

€262 for a 1 bedroom property
€359 for a 2 bedroom property
€383 for a 3 bedroom property

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