Bloomberg News

Lithuanian Property Prices Surge in Fourth Quarter, Office Says

December 20, 2011

Dec. 20 (Bloomberg) -- Property prices in the Lithuanian capital Vilnius rose 5.4 percent in the fourth quarter from the previous three months, according to preliminary figures from the nation’s registry office.

Outside of Vilnius, real-estate prices increased 1.6 percent, the office said today in an e-mailed statement. Prices rose 4 percent from a year earlier in Vilnius and increased 6 percent elsewhere, the office reported.

The Baltic nation’s real estate in the capital of Vilnius remains 28 percent cheaper compared with price levels before the global economic crisis in 2008. Outside of Vilnius, prices are 42 percent below the levels three years ago, the office said.

--Editor: Douglas Lytle

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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