Costs
Utility Costs
| Utility | Measurement | Average rates in EUR (VAT incl.) |
|---|---|---|
| Electricity | 1 kWh | 0.1060 - 0.1283* |
| Natural gas | 1 m3 | 0.45646 - 0.0536158** |
| Cold drinking water | 1 m3 | 1.73* |
| Cold water for technical purposes | 1 m3 | 1.17 - 2.06 |
| Hot water | 1 m3 | 5.88*** |
* Average tariff in 2011
** For comercial consumers in 2011, including networks tariffs
*** Tariff in December 2011
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 rent of office space (EUR/m2) | A-Class | B-Class |
|---|---|---|
| Monthly rent of retail space (EUR/m2) | High street | Shopping centres* |
| Monthly rent of modern warehouse space (EUR/m2) |
|
|
| Vilnius | 11 - 14 | 7 - 10.4 |
| Kaunas | 5.8 - 11 | 3.5 - 5.2 |
| Klaipeda | 6.4 - 11 | 3.5 - 5.8 |
| Vilnius | 7.2 - 29 | 4.3 - 11.6 |
| Kaunas | 7.2 - 16 | 4 - 6.7 |
| Klaipeda | 5.8 - 12 | 2.9 - 8.7 |
| Siauliai | 4.3 - 8.7 | 2.3 - 5.8 |
| Panevezys | 4.3 - 8.7 | 2.9 - 5.8 |
| Vilnius |
2.9 - 4.3 |
|
| Kaunas |
2.9 - 4.1 |
|
| Klaipeda |
2.3 - 4.1 |
|
* Average retail units of 200 sq.m
Sources: NEWSEC/Re&solution, an independent financial and real estate consultancy company, www.newsecbaltics.com; Baltic Property Market Report 2011, NEWSEC/Re&solution, LAWIN
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 | 300 – 1500 (central areas) and 60-200 (outskirts) |
| Kaunas | 100 – 400 (central areas) and 35 - 100 (outskirts) |
| Klaipėda | 50 – 1200 (central areas) and 20 - 100 (outskirts) |
Note: The indicated prices reflect only approximate values.
Sources: COLLIERS INTERNATIONAL Global Office Real Estate Review 2009, www.colliers.com; NEWSEC/Re&solution, an independent financial and real estate consultancy company, www.newsecbaltics.com; OBER HAUS Lithuanian Commercial Real Estate Q1 2010, www.ober-haus.com; JONES LANG LASALLE Q1 2010/European Office Property Clock www.joneslanglasalle.eu.
Costs of Doing Business & Living in the Capital City Vilnius (EUR)
| Starting a company | up to 600 |
| Translator services/hour | 52 |
| Car rental on weekend* | 31 - 113 |
| Taxi ride/km | 0.5 |
| Monthly apartment rent (a typical furnished 2-bedroom apartment in the city centre) | 800-1,000 |
| Hotel accommodation (4-star)/one weekend night | 43-99 |
*Rates for 24-hours, VAT incl.
Sources: NEWSEC/Re&solution, an independent financial and real estate consultancy company, www.newsecbaltics.com; Invest Lithuania.
