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Tomas Sovijus Kvainickas, Head of Investment and Analysis at Inreal, highlights that one of the most important indicators of the state of the primary housing market is the number of canceled home purchase contracts.
“At the beginning of the pandemic, the number of cancellations increased dramatically and perfectly illustrated the uncertainty about the future in the market. Meanwhile, during the last two months (October and November) the number of cancellations in Vilnius has dropped to the pre-pandemic level, in Klaipeda there have been no cancellations for three months, and in Kaunas, although there are still more cancellations than usual. , the situation is improving.
In November, reservations: about a third more
According to Inreal, 488 new flats and apartments were purchased in Vilnius in November, representing 25 percent. less than a month ago, but 10 percent. more than in November of last year. It is true that it should be mentioned that Inreal does not have reservations.
Hanner estimates that 559 new apartments were sold in November (46 percent more than in November 2019), Omberg 585 apartments (31 percent more) and 504 new apartments and cottages were booked in Vilnius, according to Citus.
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