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“We had an active start to the year, followed by quarantine, a drop in the number of transactions and the market recovered in the summer. In the second half of the summer and in the fall, we saw figures similar to or higher than those of 2019, ”said Paulius Rudzkis, data analyst at the Center of Records, at a remote press conference on Friday.
2020 In January-September, the prices of old buildings increased by 5.5% and those of new buildings by 20%.
According to him, the relatively good results were influenced by the good expectations of the people.
“In the summer, expectations returned and the mood was quite optimistic. While we expected a fairly large economic recession, it has not happened yet and the numbers have been much better than expected. This was reflected throughout the real estate market” , He said.
During the three quarters of this year, 23 thousand were recorded throughout Lithuania. departments and 9 thousand. residential home purchase and sale transactions. Compared to January-September 2019, apartment sales in the country decreased by 13%, while the residential market grew by 2%.
Apartment sales in Vilnius decreased by 7%, in Kaunas – 9.5%, in Klaipėda – 24%.
“However, looking at the data from the Klaipeda municipality in August and September, the number of transactions was even higher than in 2019,” said P. Rudzkis.
At that time, the individual house market in Vilnius is 25 percent. increase.
“Besides Vilnius, the growth in the number of residential transactions was also demonstrated by municipalities such as Molėtai, Trakai, Ukmergė, Anykščiai. The residential market has been very active this year, ”said P. Rudzkis.
It is true that the individual housing market in Kaunas did not grow this year and in Klaipeda it declined by 7 percent.
Records Center Photo / Paulius Rudzkis
Spent to buy a house 1.6 billion euros
In total, during the three quarters of this year, nearly 1.6 billion LTL was spent on housing (residential flats and houses) in Lithuania. EUR, or 2%. more than in the same period last year.
According to the Registry Center, 10 years ago one out of every four apartments was bought with a bank loan. Subsequently, this ratio has been steadily decreasing and during the last three years, that is, in 2016-2019, the funds lent represented around 40%. apartment and house transactions.
“This year alone we are registering a decrease, the proportion of borrowed funds has decreased again to 36 percent. This year, about two of the three apartments are being bought on their own, “said P. Rudzkis.
There is also growth in almost all housing categories. 2020 From January to September, the prices of old buildings rose by 5.5% and those of new buildings by 20%.
“The growth in prices for newly built apartments was due to structural changes. In 2019, a relatively large part of the transactions was concluded in Pilaitė, the elderly of Justiniškė, where apartments in economy class and the average price are being built is about 25%. lower than the market average. Meanwhile, this year the number of transactions in the above mentioned elderly decreased by more than a third, but increased in the old town, Žirmūnai, Šnipiškės, where prices are higher than the market average, ”explained P. Rudzkis.
The desire to invest did not fade
According to P. Rudzkis, the decline in apartment sales was not reflected in the statistics of investment apartments calculated by the Center of Records, that is, transactions of such apartments when the buyer already has at least one residential home.
In Vilnius this year, nearly 1.2 thousand could be attributed to investment apartment transactions. apartments (1% less than a year ago), in Kaunas – almost 700, or 4%. more than last year by three quarters. In Klaipeda alone, the number of investment apartment transactions decreased by 19 percent.
In addition, the share of investment apartment transactions in the total number of apartment transactions in the country’s three cities has increased throughout the year: in Vilnius, Kaunas and Klaipėda, about one in five apartment transactions could be considered a investment.
“It can be said that despite the increased uncertainty in the spring and the temporary decline in the expectations of the population, the desire of Lithuanians to invest in real estate has not waned. As for attractive places for investments , it is possible to distinguish the central areas of large cities, where buyers can see the highest possible return on their investments, ”said P. Rudzkis.
Looking at this year’s apartment buyer portrait, it can be seen that families raising children are more likely to buy apartments for investment, and among single people, the most common cases are when a divorced woman raising two children bought an investment apartment. By comparison, the typical investor this year was a single male in his 30s and 39s with no children. When looking at all apartment transactions this year, there are slightly different trends: Most transactions are single, and typical buyers are girls and boys ages 18-29 without children.
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