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Costs

Lithuania's strategic location positions perfectly for serving both eastern and western markets. Having reduced costs makes Lithuania even more compelling. Moreover with the fastest growth across the EU in labour force productivity, your profitability per employee is also particularly attractive. Businesses in Lithuania enjoy one of the most flexible employment markets in central and eastern Europe, including the second most flexible wage determination amongst the EU members in the CEE. From office space to manufacturing plant, you’ll also find the business property you want at rewardingly competitive prices.

Establishing a Business

Procedures (number) 4
Time (days) 6.5
Cost (% of income per capita) 0.9
Paid-in Min. Capital (% of income per capita) 0.0
Total Costs 82-100 €

 

Utility Costs

Utility Measurement Average rates in EUR (VAT incl.)
Electricity 1 kWh 0.11214*
Natural gas 1 m3 0.5173*
Cold drinking water 1 m3 1,89**
Hot water 1 m3  5.88

* End-user prices for industrial consumers 2013

** Average tariff in 2013

Sources: www.energy.eu; Utility services companies; www.regula.lt

 

Rent Rates

Rental prices of office, warehousing space vary depending on the location and the quality of the buildings. Newly constructed warehouse rent prices in Lithuania are one of the lowest in Europe.

Monthly rental of office space (EUR m2) A-Class B-Class C-Class
Vilnius 14.0 - 16.0 8.5 - 13.0 4.0 - 6.0
Kaunas - 6.3 - 11.0 3.0 - 5.0
Klaipeda - 6.3 - 10.0 3.0 - 5.0

 

Monthly rental of retail space (EUR m2) High street

Shopping centres*

Prime Retail

Shopping centres*

Secondary Retail

Vilnius 13.0 - 45.0 17.0 - 25.0 9.0 - 14.0
Kaunas 7.2 - 17.4 15.0 - 23.0 9.0 - 12.0
Klaipeda 5.6 - 15.0 14.0 - 20.0 8.0 - 12.0
Siauliai 4.3 - 8.7 11.0 - 14.0 8.5 - 10.0
Panevezys 4.3 - 8.7 11.0 - 14.0 8.5 - 10.0

 

Monthly rental of office space (EUR m2)

Class A & B

(Existing Vacant)

Built to Suit Projects Class-C (Lower Quality)
Vilnius 2.5 - 4.6 4.6 - 5.5 1.0 - 1.7
Kaunas 2.4 - 4.3 4.6 - 5.0 1.2 - 1.7
Klaipeda 2.4 - 4.3 4.6 - 5.0 1.0 - 1.5
* Average retail units of 200 m2
Source: NEWSEC/Re&solution, an independent financial and real estate consultancy company,
www.newsecbaltics.com.
Baltic Property Market Report 2014,NEWSEC/Re&solution+

 

Land Costs

The price of land varies substantially depending on the location, planning level as well as the type of potential development.

City Land price (EUR/m2)
Vilnius 11.500 – 44.000 (central areas) and 1.400 - 8.700 (outskirts)
Kaunas 4.300 – 23.000 (central areas) and 1.200 - 5.800 (outskirts)
Klaipėda 4.100 – 21.000 (central areas) and 1.200 - 7.200 (outskirts)

Note: The indicated prices reflect only approximate values.

Note: the prices indicated reflect only an approximate value.
Source: NEWSEC/Re&solution, an independent financial and real estate consultancy company, www.newsecbaltics.com.

 

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