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“The October figures surprised many market participants, we saw unusual activity in August and September, and October is probably a 15-year record,” says the director of the Lithuanian Real Estate Development Association on the “Delfi diena” program .
“Apparently, people couldn’t leave, they saved, some decided to improve their living environment, some bought a second home. <…> People waited, delayed, planned, but realized that jobs were saved, bank financing was possible, expectations were good and they decided to make decisions, “he adds.
According to M. Statulevičius, the wages of the population are rising faster than house prices, so the buying opportunities should remain, but the question is whether there will be anything to charge.
“Housing is not increasing as fast as wages are, so there will be opportunities, the question of whether there will be anything to buy, because developers are not building new objects at the rate they are buying now.” Currently, the so-called warehouse to choose from, there are around 5,000 apartments in Vilnius. If this rhythm is maintained, everything will be bought within a year ”, calculates the specialist.
According to him, some people might look for alternatives: cabins, private houses. However, according to the interlocutor, far fewer people can buy a house.
“The home is a Lithuanian wish, but not always an opportunity. The price is constantly being looked at. Let’s say that buying a house in Vilnius is not realistic for many, an apartment is more realistic. It is more realistic to buy a house in the region, in a smaller city, but then other costs arise ”, explains M. Statulevičius.
“People buy what they can buy. There is also an intensification of the luxury real estate market, it is a house, an asset that costs 0.5-1 million. euros. People invest boldly in this too, but it’s more isolated [atvejai]”Says the interlocutor.
Mindaugas Statulevičius
He believes that the second quarantine will not strongly affect the real estate market. Also, M. Statulevičius emphasizes, people are used to choosing a home on a computer screen.
“I think the blow will definitely not be as big as in the spring, so we did not know what to expect and what to expect,” says the head of the Association of Real Estate Developers in the program “Delfi diena”.
“People now buy housing mostly from drawings, undeveloped objects, people are used to choosing an apartment from a computer screen.”
According to M. Statulevičius, the property market in Vilnius may become even more active due to the emigrants from the East: “They are already interested in rental opportunities, if they can get financing here, it will be a very strong stimulus next year.”
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