Vilnius, Lithuania Real Estate Prices Fall in Third Quarter

Sept. 13 (Bloomberg) -- Property prices in the Lithuanian capital, Vilnius, fell for a second consecutive in the three months that will end in September, according to preliminary figures from the nation’s registry office.

Prices fell 0.8 percent from the previous quarter after a 2.2 percent drop in the second quarter, the Vilnius-based office said today in an e-mailed statement. Outside of the capital, real-estate prices fell 2.9 percent, it said.

The Baltic nation’s property market is recovering from a property market bust in 2009. Lithuanian real-estate prices fell an average of 13 percent last year.

Prices rose 3 percent in the third quarter from a year earlier in Vilnius and increased 6 percent elsewhere, the office reported.

To contact the reporter on this story: Milda Seputyte in Vilnius at mseputyte@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net