Over the ten months of this year, sales in the capital exceeded last year’s figures by almost 1.5 times, in Kaunas by a third, and in Klaipėda by nearly double.
In Vilnius, demand remains consistently high, with the economy segment dominating
Demand for housing in the capital remains particularly strong: in October, 570 new apartments and terraced houses were sold (614 in September; 386 in October 2024), making it the third-best month of the year. Ugnė Žiogelė, a real estate analyst at Citus:
In Vilnius’s primary market, sales levels fluctuate very little throughout the year – regardless of the season, buyer activity remains remarkably stable. This year, an average of 74% more properties are being sold per month compared to last year and so far, we are not seeing any significant slowdowns. The results for both September and October are likely linked to the arrival of students: some (with or without parental support) probably decided not to rent but to buy their first property, taking advantage of the currently favourable conditions. This has also boosted sales in the economy segment.
The demand structure in Vilnius in October maintained almost ideal proportions for this year, returning to pre-summer levels of stability: sales of economy-class properties accounted for 49% of all transactions, mid-market properties 44% and premium properties 7%. According to analysts, by the end of autumn the market returned to a more typical balance, with the highest activity in the most affordable segment – the economy segment.
Vilnius’s new-build housing supply at the end of October stood at 5,425 apartments, lofts and terraced houses; a month earlier the figure was 5,542, and a year ago 5,342. 370 new units were launched to market during the month. Around 57% of all properties on offer in Vilnius belong to the economy class, 31% to the mid-market class and 12% to the premium class. The supply structure largely mirrors demand, keeping the capital market relatively balanced across segments.
The average price of new-build apartments in Vilnius changed only slightly: in October, there was a mere 0.86% increase, reaching approximately EUR 3,848 per sqm. Year to date, the average offer price is up 13.43%; year on year (12-month), up 10.82%. By segment, prices in the economy segment grew 12.7% year-on-year, the mid-market segment 6.1% and the premium segment 14.8%. Ugnė Žiogelė commented that price levels in Vilnius have stabilised: over the past six months, fluctuations have been minimal, giving buyers much more confidence.
Supply shortage limiting demand in Kaunas, slowdown in Klaipėda after record summer
October was also active in the primary housing market in Kaunas. A total of 125 transactions were concluded (123 in September and 88 in October last year).
Ugnė Žiogelė:
The Kaunas market is less volatile this year, but the city is still not reaching its full potential. The main reason is the lack of quality and diversity in the supply. There are not many good projects in Kaunas that are attractive to buyers, especially a lack of mid-market and affordable housing options, so even with buyer interest, the number of transactions is growing more slowly than it could.
Kaunas’s housing stock currently stands at 1,318 units – an increase of 176 units or 6.81% in October, 21.7% higher than a year ago. At first glance, the selection of properties in Kaunas appears to have grown. Still, the segment composition of supply remains complex: economy-class properties make up 65% of the assortment (mainly on the city outskirts), mid-market properties make up 18% and premium properties make up 17%.
Meanwhile, buyer demand is distributed differently: in October, 61% of sales were in the economy segment, 24% in the mid-market segment and 15% in the premium segment.
Ugnė Žiogelė explains further:
Demand and supply for mid-market properties, which underpin Vilnius’s market, are not balanced: buyers want higher-quality properties in central locations, but there is a shortage in the market. There is a reasonable supply of premium projects in Kaunas, but the pool of buyers is smaller, so this segment sells more slowly.
Housing prices in Kaunas rose somewhat more sharply in October: the average cost of new-build apartments increased by 2.28%, reaching EUR 3,080 per sqm. Over the first ten months of this year, prices in Kaunas have risen by about 9.04%, and year-on-year by 10.25%.
In Klaipėda, following record demand in July and August, a slight slowdown has been observed. However, overall, the port city’s market remains more than twice as active as last year. In October, 45 new properties were sold in Klaipėda – slightly more than in September (44) or October last year (39) – but still below the summer months’ activity (118 in July, 80 in August).
After strong growth earlier in the year, Klaipėda’s housing supply has slightly contracted in the past quarter. In October, the market offered 651 apartments, lofts and terraced houses – somewhat fewer than in September (695) or August (736) – as no new units entered the market. Nevertheless, this figure was 32.5% higher than a year earlier.
Prices in Klaipėda increased similarly to those in Kaunas: in October, they reached EUR 3,206 per sqm, compared to EUR 3,128 a month earlier. Over the course of this year so far (January–October), housing prices have risen by 37.47%, and by 41.29% since October last year. Žiogelė points out that this situation arose in February, when a large number of costly, premium segment homes entered the market, and this class still accounts for 36% of the total housing supply (demand reached 33%). Since October last year, apartments in the economy segment have risen in price by 16.6%, in the mid-market segment by 9.4% and in the premium segment by 53.1%.
In October, 57 transactions were concluded in projects managed by Citus in Vilnius, Kaunas, Druskininkai and Nida. The majority of these – 36 sales – took place in Vilnius, 15 in Kaunas, 5 in Druskininkai and 1 in Nida. The company currently offers 285 apartments in Vilnius, 34 lofts in Kaunas, 137 apartments in Druskininkai and 4 in Nida.
Market trend: growth with challenges – the fastest win
In summary, the housing market is performing well in 2025, exceeding forecasts. Demand remains strong and sustainable: buyers have been attracted to the market by improved affordability indicators, stable interest rates and heightened expectations that housing is a safe and meaningful investment.
Supply has also increased significantly, especially in the first half of the year, but sales in the second half began to outpace it. This is a sign of a healthy, recovering market. Still, it is also a warning to developers not to rest on their laurels – buyers today are discerning and demand quality and affordable prices.
Seasonality was barely noticeable this year but natural respites, such as in April–June in all three major cities, do occur – a sign of market stability and balance.
As the end of the year approaches, we can expect a slight increase in activity. However, the primary focus is on supply: will developers be able to deliver enough new projects and homes to the market to meet this growing demand?
*When assessing demand in the primary housing market, Citus analysts count preliminary purchase and sale agreements for apartments, lofts and terraced houses. Terraced houses are included in this figure because most are formally classified as apartments, and they usually compete for the same buyers. Terminations of preliminary contracts are not eliminated from the current month’s results because they are generally related to sales in previous months and therefore do not reflect the actual demand for the current period. For the same reason, monthly statistics sometimes increase when late-registered transactions (previously concluded agreements) are included in the accounts at the same time, temporarily boosting the result for that month. All data are preliminary and subject to revision, but the final trends remain the same over a more extended period.