In August 2009, the value of residential real estate in major cities decreased by 3 , 3% from the previous month.
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Among the five major Lithuanian cities - Vilnius, Kaunas , Klaipeda, Siauliai and Panevezys - the largest drop was recorded in Siauliai (4, 9 % ), the smallest - Klaipeda (0, 6%). Nationwide, home prices fell at an annual terms by 30% and are now at 2005 levels , according to The Baltic Course , citing data from one of the largest real estate companies of Baltic region Ober-Haus. The main factor determining the negative price dynamics in the Lithuanian real estate market is extremely low purchasing activity. Recall that in the I half of Vilnius, was sold a total of 500 apartments, 70% less than during the same period last year.
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