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Aware: 2021-03-12 10:02
Raimondas Reginis, Ober-Haus Market Research Director for the Baltic States. Photo by Vladimir Ivanovo (V)
In February, compared to January, prices in Lithuanian cities increased by 0.9% and their annual growth reached 5.3%.
Based on prices from the top 5 real estate service companies OberHaus, prices grew the most in Paneville during the month and year.
[infogram id=”654ca408-2b4b-426a-ba3a-7f00061f718a” prefix=”OV1″ format=”interactive” title=”Statyba ir NT. 2021 vasaris ohbi Ober haus but kainos”]
In the last three months alone, apartment prices in Lithuania’s five largest cities have increased by an average of 3.3%. This is the fastest growth in three months since the start of the global financial crisis in 2007-2008. Price growth is recorded in all cities and in different department segments. It appears that the pandemic, which limited the population’s consumption capacity, has prompted some residents to invest in additional housing, says Raimondas Reginis, OberHaus’ market research manager for the Baltic countries.
According to him, the high activity of the market, the increase in house prices and the volume of new loans, as well as the growth or at least not rapid growth of the population in cities, show that the population is not at risk of a long-term pandemic.
Property developers have a very important role to play in the current situation. By ensuring you have enough, developers can utilize the market potential and help manage price growth. Demand is particularly strong in the fast-growing capital, whose primary market showed record results from the first deals in January. The relentless demand for new homes and the number of unsold apartments in metropolitan areas create favorable conditions for price growth for new and old construction apartments, R. Reginis states in the report.
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