From March this year, builders in Lithuania will pay a compensation of 5,471 euros for each uninstalled parking space, down from 5,535 euros last year.
Starting from March of this year, Lithuania has adjusted its compensation scheme for construction projects regarding uninstalled parking spaces. The compensation for not installing a parking space has been set at 5,471 euros, reduced from 5,535 euros in the previous year. In 2024, this amount is expected to be further adjusted to 5,509 euros. This compensation is indexed and reviewed annually in relation to yearly construction cost trends.
The construction technical regulations mandate that a certain number of parking spaces must be provided for each new or renovated building within the city. However, if it is not feasible to provide these spaces within the building premises or within a 500-meter radius, project developers can opt to pay the compensation for each missing parking space instead of installing them. This policy aims to balance urban development with the practical limitations that builders may face regarding land use.
In terms of enforcement, the regulation specifies varying numbers of uninstalled parking spaces in different parts of the city, including Klaipėda's old town and the central area, where developers may incur such compensation. Importantly, funds collected from these compensations must be allocated only to the development of public parking areas in Klaipėda, thus potentially improving urban infrastructure while regulating urban development practices.
