April 24, 2012. Vilnius. In accordance with the data of Inreal real estate experts’ analysis the amount of transactions made in the largest cities of Lithuania in 2011 has approximated to the level of 2008. Today apartments, which cost up to 200 thousand LTL, are mostly purchased. In comparison with the beginning of the crisis, the areas of mostly purchased apartments have decreased by approximately 10-20 percent. It is expected that similar structure of apartment transactions will remain in 2012. “Real Estate (RE) market is in a particular situation of “closed circle” today, when without bank funding, because the majority of people purchase RE from their own funds, the transactions are made within the same price range, which usually does not exceed 200 thousand Litas”, - states Arnoldas Antanavičius, the Manager of Consultations and Analysis Department of
Inreal Management. According to him, the market is generally circulating at the capital level, where apartments of old construction and/or economic class are mostly purchased. This tendency also reflects in the real estate developers’ sales: more than a half of new construction apartments sold in Vilnius, Kaunas and Klaipėda belong to the economic class.
Inreal analysts forecast that the increase in more expensive, i.e. more spacious, newer and/or higher class, apartment transactions may be expected in the event of increase in personal income of people, significant improvement of economic situation of the country, expectations of society and lending terms. Whereas reasonable inclination in the rates mentioned above is expected, it is possible to assume that current distribution of apartment transactions in the market should not change substantially in 2012.
ABOUT INREAL GROUPInreal group, which consists of UAB Inreal Management, UAB Inreal, UAB Inreal Building Maintenance (related to companies, administering apartment houses), and UAB Inreal GEO, provides probably the widest spectrum of services in Lithuania, related to real estate and building maintenance services. Inreal group companies belong to AB Invalda. 224 employees are currently working in Inreal group, the value of managed assets – about 400 million LTL, mediations in lease or sale of 550 thousand sq. m. of commercial premises and 1150 apartments, the value of asset, evaluated per year, is reaching 2 milliard Litas, and the area, administered by companies of building maintenance sector - 1 million sq. m. Company offices or representations are operating in Vilnius, Kaunas, Klaipėda, Šiauliai, Mažeikiai, Alytus, and Plungė.More information:Rūta Merčaitienė
INREAL GROUP Marketing and Communications Manager
Mob. tel. +370 611 29 779
E-mail: ruta.mercaitiene@inreal.lt