Back
Lithuanian Economic and Real Estate Market Report 2021 H2
2022-08-29
The 2022 H1 Lithuanian Economic and Real Estate (RE) Market indicators are presented and analyzed by Chief Investment and Analytics Officer at INREAL Group Tomas Sovijus Kvainickas, Head of Saving and Investment Products of Šiaulių Bankas Tomas Kipišas, CityNow Developer and Manager Vilius Visockas, Partner at Law Firm COBALT Artūras Kojala and expert at COBALT - Andrius Kazlauskas.
The country's economy grew by 7.2% in 2022 H1, however it started to slow down in the second quarter, with a market contraction likely to occur in Q3. The slowdown in the housing market in the first half of 2022 resulted from the increased costs of real estate (RE) development, infrastructure costs, energy efficiency class requirements, compensation for development on state land, rising housing prices, and decreasing affordability. Positive demographic changes remained the most important driving force of the housing market. The commercial RE sector withstood the challenges of H1 much better with decreasing vacancy rates and moderately rising prices. The most relevant legal news is changes in legal standards in the field of green energy.
LITHUANIAN ECONOMIC AND REAL ESTATE MARKET REPORT 2022 H1
About INREAL group
INREAL is a brand of an idea, which gives spark to unique projects, basis for professional services, and added value to businesses, clients, and partners. INREAL positions creativity as a core value in the dynamic business world. INREAL Group, which consists of UAB "Inreal", UAB "Inreal GEO" , UAB "Inreal valdymas" and its managed companies, develops unique real estate (RE) projects and provides probably the widest range of real estate services in 11 cities in Lithuania. The company has engaged in business operations for more than 25 years and implemented more than 70 real estate projects of various purposes, which received recognition and awards at contests not only in Lithuania but on an international scale as well.
More information:
Rūta Merčaitienė Head of Marketing and Communication at INREAL group +370 611 29 779 ruta.mercaitiene@inreal.lt