Lithuanian real estate market experiences an unprecedented activity that exceeded expectations of the majority of realtors, - reports ee24.com citing Baltic Course. Thus, the number of transactions with houses in Lithuania increased in Q1 2014 by 27% in annual terms, and transactions with apartments increased by 48%.
About 680 house purchase and sale transactions and 2,735 apartment transactions were made in Lithuania per month in Q1 2014. According to Ober-Haus, current indicators reached pre-crisis levels, when in Q1 2004-2007 about 2,750 apartment transactions were made per month.
Market experts identify two categories of current real estate buyers in Lithuania - residents and investors interested in long-term investment opportunities. In contrast to the market boom of 2004-2007 today there are no speculators interested in short-term profit and whose influence caused a previous housing market bubble in Lithuania, - say the Baltic realtors.
Another real estate market trend in Lithuania in Q1 2014 was a 49% increase of new apartments transactions (1,070 transactions, according to Ober-Haus), sold directly from the builder or developer in the five largest cities of Lithuania.