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Aug 02, 2014

Returns on property climbing in Vilnius, Lithuania


Last Updated: Aug. 02, 2014
VILNIUS CENTER - Apartment COST (€) YIELD (p.a.) PRICE/SQ.M. (€)
TO BUY MONTHLY RENT TO BUY MONTHLY RENT
40 sq. m. 71,040 356 6.01% 1,776 8.90
75 sq. m. 145,575 703 5.79% 1,941 9.37
120 sq. m. 239,760 1,195 5.98% 1,998 9.96
VILNIUS SUBURBS - Apartment
45 sq. m. 68,220 347 6.09% 1,516 7.70
75 sq. m. 134,025 582 5.21% 1,787 7.76
120 sq. m. 254,160 983 4.64% 2,118 8.19
Districts researched:
Vilnius: City Center, Senamiestis(Old Town), Uzupis and Naujamiestis
Vilnius Suburbs: Antakalnis, Zverynas and Valakampiai
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule

In Vilnius, rental yields continue to climb. Gross rental yields on apartments in the city centre range from 5.79% to 6.01%. In the suburbs, rental yields range from 4.64% to 6.00%. These are moderate to good yields, and suggest that the economy continues to pick up.

After collapsing during 2008-2010, prices in Vilnius have seen a U-Curve: in the past year there has been a rise of around 5%. Prices of old, but fully refurbished apartments located in Vilnius’ city centre and old town range from EUR 1,750 to EUR 2,000 per square metre (sq. m.). In the prestigious suburban neighborhoods of Vilnus (Antakalnis, Zverynas and Valakampiai), old refurbished apartments cost around EUR 1,500 to EUR 2,100 per sq. m.  

This means that a 120 sq. m. in the city centre costs on average EUR 240,000, whereas in the suburbs, it costs on average EUR 255,000.  Suburban prices have been increasing, especially for larger, more luxurious houses.

Rental rates are somewhat lower in the suburbs. Rents in the centre are around EUR 9-10 per sq. m. per month, while in the suburbs rents are around EUR 8 per sq. m. per month.

A 120 sq. m. apartment in the centre could be rented out for around EUR 1,200 per month while in the suburbs, a 120 sq. m. apartment fetches around EUR 900 per month.

Round trip transaction costs are very low in Lithuania.  See our Property transaction costs analysis for Lithuania and Property transaction costs in Lithuania, compared to the rest of Europe






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