Since 1 January, 2015 Lithuania plans to adopt the euro. Its neighbors in the Baltics have already done this: Estonia - three years ago, and Latvia - since the beginning of this year. Will the Lithuanian real estate market, which is stagnant now, get the same increase as the Estonian or Latvian? Experts say that rather no, according to ee24.com citing delfi.lt.
The fact is that the supply in Lithuania meets the demand, there is no rush, so there are no reasons for prices increase. Arvydas Avulis, CEO of Hanner, believes that psychological factors may affect the market: the more people expect increase in prices due to the introduction of the euro, the more strange consequences may happen.
Saulius Vagonis from Ober Haus says that Lithuania's economy will grow faster after the adoption the euro, but the growth rate hardly can be predicted.
Recall that property prices in Lithuania stay unchanged for the past three years. At the same time, prices for property in Latvia and Estonia are increasing.