Costs
Utility Costs
| Utilities for companies | Measurement | Average rates, EUR (VAT included) |
|---|---|---|
| Electricity | 1 kWh | 0.106969* |
| Natural gas | 1 m3 | 0.03832* |
| Cold drinking water | 1 m3 | 1,52** |
| Hot water | 1 m3 | 6,25 |
* End-user prices for industrial consumers, as of November 2012 ** Average tariff for year 2012 Source: 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 building. 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 | 7.5 - 12.5 | 4.0 - 6.0 |
| Kaunas | - | 6.0 - 9.0 | 3.0 - 5.0 |
| Klaipeda | - | 6.0 - 9.0 | 3.0 - 5.0 |
| Monthly rental of retail space (EUR m2) | High street |
Shopping centres* Prime Retail |
Shopping centres* Secondary Retail |
| Vilnius | 13.0 - 40.0 | 17.0 - 22.0 | 9.0 - 11.0 |
| Kaunas | 8.7 - 17.4 | 15.0 - 20.0 | 9.0 - 10.0 |
| Klaipeda | 5.6 - 13 | 14.0 - 18.0 | 8.0 - 10.0 |
| 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 | 2.3 - 4.3 | 4.6 - 4.9 | 1.0 - 1.7 |
| Kaunas | 2.6 - 3.5 | 4.6 - 4.9 | 1.2 - 1.7 |
| Klaipeda | 2.5 - 3.8 | 4.6 - 4.9 | 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 2013,NEWSEC/Re&solution> Lithuanian Property Market Report 2013,NEWSEC/Re&solution
Land Costs
The price of land varies substantially depending on the location planning level as well as type of potential type of development.
| Places | Land sales price (EUR m2) |
|---|---|
| Vilnius | 300 – 900 (central areas) and 50-200 (outskirts) |
| Kaunas | 100 – 400 (central areas) and 35 - 100 (outskirts) |
| Klaipeda | 50 – 300 (central areas) and 20 - 100 (outskirts) |
Note: the prices indicated reflect only an approximate value. Source: COLLERS 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
Cost of Doing Business & Living in the Capital City
| Starting a company | up to EUR 600 |
| Translator services/h | EUR 52 |
| Car rental for weekend* | EUR 31 - 113 |
| Taxi ride/km | EUR 0.5 |
| Monthly apartment rent (a typical furnished 2-bedroom apartment in the city centre) | EUR 800-1,000 |
| Hotel accommodation (4-star)/one weekend night | EUR 43-99 |
*Rates include 24-hour rental period, VAT tax included Source: NEWSEC/Re&solution, an independent financial and real estate consultancy company, www.newsecbaltics.com., Invest Lithuania
