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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.
Apartment rents will go down, economist says
© DELFI / Kiril Čachovskij

"Neither people's income, nor demand for housing grew that much," Grajauskas told DELFI, commenting on apartment rent prices that went up by almost 20% last year. Therefore adjustments in the market should bring them down again, he believes.

Average income grew 5% last year and is expected to go up 6% this year, according to Grajauskas. Rents should grow at a similar pace.

"If they [housing rents] grew 20% last year, they should edge down at least 5 to 10%, so that they are back at a normal level," Grajauskas says.

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