Here in Lithuania there have been quite a few projects started to renovate these apartments. Here is a presentation (in English) from a couple of years ago, at

Here in Lithuania there have been quite a few projects started to renovate these apartments. Here is a presentation (in English) from a couple of years ago, at the time the works cost €166/sqm. From the outside the renovated apartments look as good as any new apartments. http://www.lsta.lt/files/seminarai/070914_EFIEES/9_Nenius_presentation2.pdf http://www.lsta.lt/files/seminarai/070914_EFIEES/9_Nenius_pr... There is a lot of new development going on here as well, but when it costs €80k+ for a 40sqm studio it's unaffordable for most people (minimum wage is €380/mo). New developments usually have underground parking which is a plus, but developers are often selling the spaces at over €10k. It's a good time to be a developer here :D