The 2020-2021 Lithuanian Economic and Real Estate (RE) Market indicators are presented and analyzed by Chief Investment and Analytics Officer at INREAL Group Tomas Sovijus Kvainickas, Head of Saving and Investment Products of Šiaulių Bankas Tomas Kipišas and Partner at Law Firm COBALT Artūras Kojala.
In 2020, the country’s economy and real estate (RE) market were particularly dynamic. The sales records of 2019 in the new housing segment have not been improved in Vilnius, Kaunas and Klaipėda, however the result still exceeded or at least reached the 2017–2019 average. New supply in Vilnius and Klaipėda was lower than the number of concluded sales, while the housing supply in Kaunas was slightly higher than the number of sales. The absolute winner of the housing market in 2020 was the Lithuanian seaside region where sales, compared to the previous year, grew not only by a percentage, but also by several times. Leased out premises in business centres decreased in all the three major cities. The logistics and warehousing sector has coped well with the challenges of the pandemic and has good prospects. The issuance of RE legal norms in 2020 was followed by active amendment of territorial planning, construction and other related laws and secondary legislation.