Property for Sale in Lithuania

Buying property in Lithuania has become very popular due to inexpensive flights, low cost properties and huge investment potential.

However, property buyers in Lithuania are making huge mistakes as they often fail to comprehend all the risks and dangers involved when buying abroad

Unlike in some countries where the asking price can be a trial balloon, the asking price for a house or apartment in the Baltic countries is usually very close to the selling price, if not the selling price itself.

A real estate market began to develop in Lithuania as early as 1991, when the national parliament passed the Apartment Privatization Bill, allowing citizens to buy their state-owned apartments. At the beginning of 90s the class of small entrepreneurs started to form and soon became one of the main players at the real estate market. During the last decade the prices for residential properties in the country rose from $100 per sq.meter to their actual levels 5 to 10 times higher.

An EU member, Lithuania offers real estate buyers a safe and solid economic climate in which to invest. Today property is still very affordable and, with over 60% of the local population owning property, the re-sales market is kept buoyant. Today Lithuania’s young workers have leapt onto the property ladder, providing further growth in the market.

Continued impressive growth of Lithuania’s economy and increased consumer spending power has initiated steady growth in the real estate sector. The real estate market boom spreads out from the capital, Vilnius, to other major Lithuanian cities.