War affects Lithuanian real estate market, as bunker on sale in Vilnius

In Lithuania, Russia’s war against Ukraine has affected the real estate market. The segment of basements has become more popular and a private bomb shelter is on sale, Lithuanian public broadcaster LRT and Gabrielė Sagaitytė report.
«One of the few surviving private shelters in the centre of Vilnius, which was used by the city residents to hide and survive bomb attacks, is for sale! This is your chance to secure your safety now! The premises can be used for a variety of commercial activities,» reads one of the ads on a real estate website.
The 164-square-metre three-room shelter is located in Vilnius’ Naujamiestis district. Offered with running water, sewage and electricity, it costs 115,000 euros.
Although the price of 700 euros per square metre seems excessive for a non-residential premise, its broker, contacted by LRT.lt, stressed the shelter’s location. «Let’s not forget where it is located. It is in the central part of the city. The basements can be adapted for different activities. […] This is commercial space and costs less than 1,000 euros per square metre in the central part of the city. So, I think it’s a realistic price,» said Vilius Drevnickis, a real estate broker.
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According to the real estate company Ober-Haus, a square metre of commercial real estate in the centre of Vilnius costs between 1,150 and 2,600 euros. In residential areas, prices range between 800 and 1,550 euros.
The Centre of Registers predicts that the security situation in the region, which has changed due to the Russian invasion of Ukraine, will affect the Lithuanian real estate market as well. Although this is not yet reflected in the statistics, a decrease in the number of the real estate transactions is expected in the near future.
The article originally appeared on LRT English: https://www.lrt.lt/en/news-in-english/19/1657440/very-authentic-bomb-shelters-crop-up-on-lithuanian-real-estate-listings