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Baltic states see property price rise

24th May 2011 | back to article listings BACK    print this article PRINT

People looking to make an overseas property investment may want to consider homes in the Baltic states, as new figures have shown a steady increase in prices.

The countries have been attracting investment interest from British people for a number of years, as their economic and political landscapes shift closer to western Europe following independence from the old Soviet Union in 1991.

The Ober-Haus Baltic Apartment Price Index 2011 has revealed that in April, prices for apartments in the Lithuanian capital of Vilnius hit an average 1,200 euro (1,050) per square metre, a 0.7% increase month-on-month.

Year-on-year, property prices in the city have risen by 3.6%, showing a continued growth following the property market collapse experienced by the country in 2007.

Estonia's capital Tallinn has been boosted by an increased demand for luxury homes in the city, with the value of properties appreciating by 11.1% in April.

While the Latvian capital Riga has not experienced the same levels of growth, its property prices remained stable, with the average cost of a home last month set at 937 euro per square metre.

Copyright Press Association 2011

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