Real Estate Investments in Lithuania

Many commentators believe that the Baltics represent a terrific overseas investment opportunity. In addition, Sunshine Estates believe there are a number of specific reasons that make Lithuania a particularly attractive proposition. Below, we have compiled 10 reasons why Foreign investors should consider Lithuania:

• Membership to the EU in May 2004 has greatly increased its international profile.
• For the second consecutive year, Lithuania tops Europe’s growth tables, with real GDP growth of 7.3% in 2005, following on from 6.7% the previous year.

• Cumulative foreign direct investment as of the 1st January 2004 equalled EUR 3.94 billion and, comparing with the 1 January 2003, increased by 4%.
• The currency of the 'Lita' (LTL) is pegged to Euro.
• The capital Vilnius has seen substantial appreciation of property values in 2004 and 2005. The average price for a new suburban apartment grew about 15-25% in 2005 while the price of new city centre flats jumped more than 50%.
• Over 2,200 new apartment units in Vilnius were completed in 2005 - nearly all were sold prior to completion. Another 2,600 units should be built in 2006, with over 70% already pre-sold.
• Foreigners are freely permitted to buy and sell property in Lithuania, although approval is needed from the local municipality to purchase land.
• Lithuania enjoys a highly skilled and well educated workforce (the annual number of university graduates per 1,000 inhabitants is the highest in the Baltics).
• Vilnius boasts a Baroque Old Town that is the largest in Eastern Europe and praised as the 'New Prague'.
• Lithuania represents a blend Western and Eastern European cultures and customs. It’s countryside consists of gently rolling green plains, extensive forests and boasts over 4,000 lakes.