Sunny Climates Lure Lithuanians: More Consider Southern European Property

More Lithuanians are contemplating the purchase of real estate in Southern Europe, a trend that has gained momentum over the past decade. A recent survey indicates a significant increase in interest, with many residents at least theoretically considering such an investment.

Several factors are driving this growing interest. Simonas Norbutas, director of SEB Bank's Private Clients Financing Department, attributes this shift to rising financial prosperity among Lithuanians, the increasing prevalence of remote work, and significantly improved travel accessibility to Southern European destinations. These elements combine to make property ownership in warmer climates a more attainable prospect.

The survey results highlight that Lithuanians' interest in Southern European property surpasses that of their Baltic counterparts. While 39% of Lithuanians stated they would not consider buying property abroad, a notable portion are actively exploring the possibility. In comparison, 31% of Estonians and 27% of Latvians, given the financial means, would consider real estate in the region.

The survey was conducted in June by research firm Norstat on behalf of SEB Bank, with over 1,000 participants aged 18 to 74 in Lithuania.

“

A decade ago, far fewer Lithuanian residents considered buying their own home in Southern Europe. Today, we see that more and more people are at least theoretically considering such a possibility. This is influenced by the growing financial well-being of the population, the possibility of working remotely, and significantly more convenient travel connections with Southern European countries.