[ad_1]
“In fact, we were a bit surprised by the result for the first quarter, when compared to the first quarter of last year, the growth of home sales in Vilnius is 70 percent. higher. On the one hand, everyone thinks that the participants should be very happy, but actually those results cause me more anxiety and concern. It is not healthy growth, it is not sustainable. Obviously not. It means that at some point something will stop, “he told Knowledge Radio on Monday.
A. Avulis noted that a very large construction boom is being observed in the capital.
“Vilnius is a growing city. (…) The fact that it was easy to buy a home in Vilnius was also one of the reasons why people wanted to live and come here. However, the growth in Vilnius (market of housing – ELTA) is too high, too sudden and raises some concerns, because the demand in Vilnius today is much higher than the supply ”, he emphasized.
Speaking about the reasons for the increase in demand for real estate, A. Avulis, first of all, mentioned the increase in income of the Lithuanian population.
“Those who have a job feel safe enough. In Vilnius, wages have increased by more than 10% per year in the last year, which is very significant. (…) The increase in wages gives more confidence, people are more positive about the future, (…) which encourages them to buy a home, ”he said.
According to Hanner’s chairman of the board, the construction boom is also affected by fear of inflation.
“A sufficient number of people who have accumulated wealth are watching the financial injections to rebuild the EU economy in the post-pandemic period, that money is flowing into the market and people are realizing that there may be inflation Its first signs are very visible in the commodity markets. For example, the price of the metal has risen more than 50 percent. …
All of this has and will have an impact on construction prices. People who hear this information seem to want to rush into buying a home. At that time (…) people who have savings want to use them somewhere, because the risk of inflation has some effect, “he said.
No part of this publication may be reproduced without the written permission of ELTA.
[ad_2]
