VILNIUS — When is the best time to buy real estate in Lithuania? None of the experts seem to agree.
Lithuania is approaching the bottom of a downward cycle in real estate values following the bursting of the biggest property bubble the country has ever seen.
Some expect prices in the country to [private_supervisor]continue to drop by up to 20 percent before they rebound, while others say that the time to buy is now.
A survey of eight expert bodies by daily business paper Verslo Žinios found that the answer to the question of when to buy varies greatly.
The central bank expects prices to drop by around 10 percent before they level out. Danske Bank thinks that real estate in Vilnius has already bottomed out, but values in other centers will continue to fall.
“Comparing the third quarter of this year and the second will show an expected price increase in Vilnius, but in the rest of the country, housing prices may still fall once again. On average, 2010 housing prices could fall 10-15 percent,” Violeta Klyvienė, Danske bank’s senior analyst in the Baltic countries said.
Ober-Haus on the other hand think that prices could rise by as much as 4 percent on average with a pessimistic view of zero movement.
Most of the experts surveyed said that now was a good time to buy a house for personal use. They said they had noticed a trend across the board of hesitant real estate investors, though, probably because of the possibility of the introduction of a real estate tax.
Both Danske Bank and DnB Nord said that even though a buyers market exists at the moment, it will still be hard for people to get credit because of the ongoing credit issues in the country. [/private_supervisor] [private_subscription 1 month]continue to drop by up to 20 percent before they rebound, while others say that the time to buy is now.
A survey of eight expert bodies by daily business paper Verslo Žinios found that the answer to the question of when to buy varies greatly.
The central bank expects prices to drop by around 10 percent before they level out. Danske Bank thinks that real estate in Vilnius has already bottomed out, but values in other centers will continue to fall.
“Comparing the third quarter of this year and the second will show an expected price increase in Vilnius, but in the rest of the country, housing prices may still fall once again. On average, 2010 housing prices could fall 10-15 percent,” Violeta Klyvienė, Danske bank’s senior analyst in the Baltic countries said.
Ober-Haus on the other hand think that prices could rise by as much as 4 percent on average with a pessimistic view of zero movement.
Most of the experts surveyed said that now was a good time to buy a house for personal use. They said they had noticed a trend across the board of hesitant real estate investors, though, probably because of the possibility of the introduction of a real estate tax.
Both Danske Bank and DnB Nord said that even though a buyers market exists at the moment, it will still be hard for people to get credit because of the ongoing credit issues in the country. [/private_subscription 1 month] [private_subscription 4 months]continue to drop by up to 20 percent before they rebound, while others say that the time to buy is now.
A survey of eight expert bodies by daily business paper Verslo Žinios found that the answer to the question of when to buy varies greatly.
The central bank expects prices to drop by around 10 percent before they level out. Danske Bank thinks that real estate in Vilnius has already bottomed out, but values in other centers will continue to fall.
“Comparing the third quarter of this year and the second will show an expected price increase in Vilnius, but in the rest of the country, housing prices may still fall once again. On average, 2010 housing prices could fall 10-15 percent,” Violeta Klyvienė, Danske bank’s senior analyst in the Baltic countries said.
Ober-Haus on the other hand think that prices could rise by as much as 4 percent on average with a pessimistic view of zero movement.
Most of the experts surveyed said that now was a good time to buy a house for personal use. They said they had noticed a trend across the board of hesitant real estate investors, though, probably because of the possibility of the introduction of a real estate tax.
Both Danske Bank and DnB Nord said that even though a buyers market exists at the moment, it will still be hard for people to get credit because of the ongoing credit issues in the country. [/private_subscription 4 months] [private_subscription 1 year]continue to drop by up to 20 percent before they rebound, while others say that the time to buy is now.
A survey of eight expert bodies by daily business paper Verslo Žinios found that the answer to the question of when to buy varies greatly.
The central bank expects prices to drop by around 10 percent before they level out. Danske Bank thinks that real estate in Vilnius has already bottomed out, but values in other centers will continue to fall.
“Comparing the third quarter of this year and the second will show an expected price increase in Vilnius, but in the rest of the country, housing prices may still fall once again. On average, 2010 housing prices could fall 10-15 percent,” Violeta Klyvienė, Danske bank’s senior analyst in the Baltic countries said.
Ober-Haus on the other hand think that prices could rise by as much as 4 percent on average with a pessimistic view of zero movement.
Most of the experts surveyed said that now was a good time to buy a house for personal use. They said they had noticed a trend across the board of hesitant real estate investors, though, probably because of the possibility of the introduction of a real estate tax.
Both Danske Bank and DnB Nord said that even though a buyers market exists at the moment, it will still be hard for people to get credit because of the ongoing credit issues in the country. [/private_subscription 1 year]
— This is a paid article. To subscribe or extend your subscription, click here.
