A sudden rise in apartment rents, especially in Vilnius, after the adoption of the euro has no "rational basis", says Danske Bank economist Rokas Grajauskas, adding that he expects rents to go down this year.
A gap between housing prices in Vilnius and other towns in Lithuania is growing. While apartments in Vilnius are becoming more expensive, apartment prices in Kaunas, Šiauliai and Panevėžys are stable or even dropping.
Lithuanian commercial banks are revising their expectations of real estate prices. A year ago, banks hoped that housing, particularly new developments, will see a rise in prices, while in a survey performed this autumn there wasn't a single bank expecting a rise in housing prices, the Bank of Lithuania said.
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