Property for sale in Lithuania

Is the largest city and the capital of Lithuania, with a population of 555,613 (847,954 together with Vilnius County) as of 2008. It is the seat of the Vilnius city municipality and of the Vilnius district municipality. It is also the capital of Vilnius County. Get more information on property for sale in Vilnius.

Is a country in Eastern, often referred to as Northern Europe or in the Baltic Division. Situated along the southeastern shore of the Baltic Sea, it shares borders with Latvia to the north, Belarus to the southeast, Poland, and the Russian exclave of the Kaliningrad Oblast to the southwest.

Lithuania represents a wonderful opportunity for a real estate investment as property prices continue to increase at over 15-20%. Fuelled by the recent accession to the EU, the Lituanian economy is one of the strongest of the emerging European countries.

 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. Moreover, Foreigners are freely permitted to buy and sell property for sale in Lithuania. Foreign investors should consider Lithuania:

 * For the second consecutive year, Lithuania tops Europe’s growth tables, with real GDP growth of 7.3% in 2005, following on from 6.7% the previous year.                  

 * Cumulative foreign direct investment as of the 1st January 2004 equaled EUR 3.94 billion and, comparing with the 1 January 2003, increased by 4%.

 * The currency of the 'Lita' (LTL) is pegged to Euro.

 * The capital Vilnius has seen substantial appreciation of property values in 2004 and 2005. The average price for a new suburban apartment grew about 15-25% in 2005 while the price of new city centre flats jumped more than 50%.

 * Over 2,200 new apartment units in Vilnius were completed in 2005 - nearly all were sold prior to completion. Another 2,600 units should be built in 2006, with over 70% already pre-sold.

 * Foreigners are freely permitted to buy and sell property for sale in Lithuania, although approval is needed from the local municipality to purchase land.

After enormous increases from 2003 to 2006, Lithuania’s residential property prices peaked in early 2007. Since then, prices have been stagnant, though adjusted for inflation prices are down by 10% from their peak.