According to the latest Ober-Haus Real Estate Advisors data apartment prices are climbing but they are still a long way behind the peak prices seen in 2007.
In Poland the biggest monthly increase was 0.2% in Łódź, bringing the average apartment price up to €1,175 per square meter. The biggest monthly price drop was in Katowice, down 1.7% down to €1,124 per square meter. The other cities that saw moderate drops in December were Kraków, down 0.2% and Gdańsk and Poznań, both down 0.1%.
In Poland during the last 12 months the price of apartments has dropped by 2.1% in Warsaw and 0,3 % in Gdańsk and but increased by 3.8% in Cracow, 5.1% in Poznań, 5% in Katowice and 5.3% in Łódź.
Year on year prices have also increased in Estonia. Compared to December 2009 the average apartment price in Tallinn has increased 7.9% and the number of transaction has soared, up 22% in December 2009. Prices took a tumble in November 2010, falling 5.1% but in December values were down 2.9%, suggesting the fall is slowing.
The data also shows that apartment prices in Riga increased by 0.9% in December, showing changes in exclusive residential properties located in the city centre and in new projects.
Activity in residential districts was poor due to the holiday season over Christmas and New Year and uncertainty about real estate prices in 2011, the report suggests. But there is still a lot of interest in exclusive city centre developments where most buyers are from overseas.
During the past 12 months the price of apartments in Riga have increased by 5.1% but prices are considerably lower, by around 60% from the peak of the market in May 2007.
In December apartment prices in Vilnius in the city centre increased slightly or remained unchanged. There was a slight increase in prices in the cheapest segment of the market, that is old and new apartments in residential districts which went up by 0.7%.
The average price of an apartment in the city is now €1,193 per square meter and it is the first time since July 2008 that prices have increases year on year, up 0.1%.
Prices in Kaunas, the second largest city in Lithuania, also went up by 0.1% and prices in Klaipėda remained stable. Apartment prices in Šiauliai and Panevėžys dropped 0.1% and 0.3% respectively.
nd prices in Klaipėda remained stable. Apartment prices in Šiauliai and Panevėžys dropped 0.1% and 0.3% respectively.
