After a 0.1% increase in August prices of apartment in Vilnius remained stable in September at €1,209 per square meter. It means that year on year prices has decreased by 2.4%.
Sales activity in the region’s housing market normally increases in autumn but there is no sign of that happening in September as no major changes in apartment prices were seen in any major Lithuanian city.
Since their peak in December 2007 apartment prices in Vilnius have fallen by 39.1%.
In September apartment prices in Riga also remained stable. In the last 12 months price have increased by 3.6%. But since their peak in May 2007 prices have fallen by 59.6%.
In Tallinn it is a different story with the average price increasing by 11.1% after increasing 3.6% in August. The bigger monthly jump is put down to a higher than normal number of sales.
It means that year on year prices in the city have increased by 26.8% to €1,171 per square meter. But they are still some way below the peak of April 2007, down 31.4%.
But prices are falling in Poland. The latest Ober-Haus Real Estate Index for the country shows that apartment prices fell the most in Poznań, Katowice and Łódź to €1,318, €915 and €963 per square meter respectively.
The smallest monthly price drop was recorded in Warsaw which was down 0.1%. In September, Kraków and Gdańsk both also saw price decreases of 0.5%.
During the last 12 months the price of apartments has dropped 10% in Katowice and 0.6% in Warsaw.
Since their peak in 2007 prices are now down 10.4% in Warsaw and 29.3% in Łódź.
