Half-year in numbers: Palanga primary market
- 219 – new homes sold in H1 2026, with the monthly pace almost doubling since January
- -15,4 proc. – the apartment supply contracted over the half-year (from 571 to 483)
- 41,6 proc. – ORNER’s share of all half-year sales (91 out of 219)
- +6,4 proc. – price growth in Kunigiškiai, the fastest-appreciating resort district
- 4 165 Eur/kv. m – average asking price in Vanagupė (+3.1%)
Market grows, supply shrinks
According to CityNow primary real estate market data, buyers in Palanga chose 219 new homes in the first six months of 2026, and the market pace grew throughout the year: 27 contracts were signed in January, 41 in March, 47 in April, and 46 in May.
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Another trend is emerging – supply is not keeping up with renewal. At the beginning of the year, buyers in Palanga could choose from 571 apartments in 32 projects, while at the beginning of July, 483 apartments remained in 27 projects. Supply contracted by more than 15% over the half-year, and in five projects, there were no apartments left in the offering. More homes were sold in the half-year than new ones offered to the market.
“In Palanga, conditions for a supply deficit are forming. Demand is growing faster than new projects are entering the market – if the trend continues, buyer choice will narrow even further in the second half of the year, which will support price growth in the most sought-after locations,” says Toma Muznikaitė, ORNER Marketing Manager.
Demand shifts from the center to new resort districts
Half-year data shows a significant geographical redistribution. Kunigiškiai became the hottest location in Palanga – almost half of all half-year sales took place here, and the average asking price increased by 6.4% since March (from 3,731 to 3,971 Eur/sq. m). In Vanagupė, asking prices rose by 3.1% (to 4,165 Eur/sq. m), while in Palanga center, on the contrary, they decreased by 4.1%.
Developers’ pricing strategies also differ: some projects raised prices by 5–12% over the half-year, while others were forced to apply discounts. In terms of segments, prices for mid-range housing grew (+2.4%), while those for the economy segment contracted (-4.6%).
On average, a new home in Palanga is currently offered for approximately 4,100 Eur/sq.m, and a two-room, 30–35 sq.m home, most commonly chosen by buyers, costs around 120–140 thousand Eur
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“The buyer on the coast has become more mature – choosing not the cheapest price, but the location, project quality, and developer reliability. Therefore, we see price disparities: strong locations and well-established projects are raising prices, while weaker ones are forced to offer discounts. The growth of Kunigiškiai and Vanagupė shows that the resort’s center of gravity is shifting to new districts, where a modern resort living environment is forming,” comments T. Muznikaitė.
The most popular resort projects – in the hands of one developer
The real estate development company ORNER became the leader in half-year sales, recording 91 home sales – more than the next four developers combined. The best-selling project in Palanga is NORAI in Vanagupė (54 sales), followed by RITMAI in Kunigiškiai (37 sales).
In the NORAI project, almost half of the 120 apartments have been reserved or sold within six months of sales launch. Project pricing is formed in stages – starting with the lowest price, which has already increased by about 12% as construction readiness progresses: for early buyers, this means increased property value, and prices, as is customary in the primary market, continue to be adjusted according to project progress. Demand for RITMAI prompted the earlier-than-planned opening of second-phase sales – they started on June 1st. As of July, the first notarial purchase-sale agreements for the first phase of RITMAI are being signed with buyers.
“The results confirm that the strategy of offering different concept projects in different parts of the resort in Palanga has paid off – they appeal to different buyers, thus not competing with each other, but together addressing the majority of demand. Almost half of the resort’s buyers chose our projects this half-year – demand is concentrated with developers whom buyers trust. Most importantly, from July, we are moving from preliminary to notarial agreements – the first RITMAI owners will receive their keys this month,” says Jonas Skerla, ORNER Director.
About ORNER
ORNER is a real estate development company with 13 years of experience, creating housing projects in Palanga and Vilnius. In the resort, the company is developing projects NORAI in Vanagupė and RITMAI in Kunigiškiai, and in Vilnius, Pašilaičiai – the MODERNIST project. In 2026–2027, investments in ongoing projects amount to approximately 56 million Eur (RITMAI – 19 million, MODERNIST – 24 million, NORAI – 13 million Eur), and construction permits for two new projects in Vilnius were obtained last month. The company’s portfolio includes successfully implemented housing projects in Palanga and Vilnius.
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