In accordance with data of Inreal real estate analysts, B and C energy efficiency class apartment houses dominate in new construction housing market. C energy efficiency class apartments are mostly offered in Vilnius, B energy efficiency class apartments are mostly offered in Kaunas and Klaipeda. Usually B energy efficiency class apartments are bought in all largest cities. So far, there has been no single A energy efficiency class apartment house built in Lithuania. Inreal analysts forecast further increase in the demand of higher energy efficiency class housing, because average prices of B class apartments are higher only by up to 5 percent as compared with C class, while heating costs are less approximately by one third.
„Analysing the projects of new construction apartment houses in Vilnius, Kaunas and Klaipeda, it has been noticed that C energy efficiency class apartments are mostly offered in Vilnius, while in Kaunas and Klaipeda B energy efficiency class apartments prevail”, says Arnoldas Antanavicius, the Head of Consultation and Analysis Department of Inreal Valdymas UAB (Inreal Management). According to him, the main reason of differences is the fact that the majority of project being implemented in Vilnius are economic class projects, where in order to reduce the costs, investments to energy efficiency of buildings are being refused. „Currently, more than three quarters of economic class buildings in Vilnius have minimum C energy efficiency class“.
Regardless of different trends of supply in the largest cities of Lithuania, according to Arnoldas Antanavicius, the trends of supply are similar. The analysis of average volumes of transactions within the last 6 months shows that usually B energy efficiency class apartments are bought in all largest cities. Difference between average projects of B and C energy efficiency class for sale is 40-50 percent, while in Kaunas and Klaipeda – 2-3 times, however the attention should be paid to the fact, that, generally, the amount of transactions on new construction apartments made in the latter cities is very small.
Inreal analysts forecast further increase in the demand of higher energy efficiency class housing, because average prices of B class apartments are higher only by up to 5 percent as compared with C class, while heating costs are less approximately by one third. Inreal estimates that higher price of B class apartment pays off in about 15 years, and furthermore it is a more attractive property of higher quality in the market.
Currently, under the legislation in force C class is the minimal requirement for new buildings, and A – the maximal. So far, there have been no A energy efficiency class apartment houses built in the largest cities of Lithuania. In accordance with the Directives of the European Union, from 2021 all new projects will have to be of not less than A energy efficiency class.
More information:
Ruta Mercaitiene
INREAL GROUP Marketing and Communications Manager
Cell phone no. +370 611 29 779
E-mail [email protected]