Russians rapidly buy real estate in Lithuania

Russian citizens buy dozens of real estate units in Lithuania every month, and since the beginning of the year, they have purchased almost 300 properties in the country.

Source: Lithuania’s national broadcaster LRT

Since the beginning of 2023, the Russians have purchased 297 real estate properties in Lithuania, mostly apartments. This is 104 fewer facilities than in 2022 during the same period.

At the beginning of May, a law came into force in Lithuania stating that only Russians with residence permits can buy real estate in the country. However, in the first month of the innovation, this did not significantly change the trend – in May, Russian citizens bought only 7 properties less than in April.

Russian citizens often buy apartments in Lithuania (119 out of 297), but also houses, land plots and buildings for other purposes.

In 2022, Russians bought 401 real estate properties in Lithuania.

Background: In Finland, Russian citizens began to sell their dachas after tightening restrictions on entering the country [a dacha is a sort of a summer house, usually with a little plot of land where people grow vegetables, fruit trees and berries, or keep a garden; a cooperative dacha community is an association of persons, each of whom has a dacha plot within the same territory – ed.].

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