Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Lithuania has been experiencing steady growth over the past few years. Customer preferences have shifted towards urban areas, leading to increased demand for residential properties in cities like Vilnius and Kaunas. The market has also been influenced by local special circumstances, such as government initiatives to attract foreign investors and a growing tourism industry. Additionally, underlying macroeconomic factors, such as low interest rates and a strong economy, have contributed to the development of the Real Estate market in Lithuania. Customer preferences in the Real Estate market in Lithuania have been shaped by various factors. One of the main preferences is for properties in urban areas, particularly in cities like Vilnius and Kaunas. This is due to the availability of job opportunities, amenities, and cultural attractions in these cities. Additionally, there has been an increasing trend towards smaller, more affordable properties, as younger generations and first-time buyers enter the market. This has led to a rise in demand for apartments and townhouses, rather than larger single-family homes. The market in Lithuania has also been influenced by local special circumstances. The government has implemented initiatives to attract foreign investors, such as offering residency permits to individuals who purchase properties in the country. This has led to an influx of foreign buyers, particularly from neighboring countries like Latvia and Estonia. Furthermore, the growing tourism industry in Lithuania has created opportunities for property owners to rent out their properties to tourists, leading to increased demand for short-term rental properties. Underlying macroeconomic factors have played a significant role in the development of the Real Estate market in Lithuania. Low interest rates have made it more affordable for individuals to borrow money for property purchases, stimulating demand in the market. Additionally, the strong economy in Lithuania has boosted consumer confidence and purchasing power, encouraging individuals to invest in real estate. The stability of the country's political and economic environment has also attracted foreign investors, further contributing to the growth of the market. In conclusion, the Real Estate market in Lithuania has been experiencing growth due to customer preferences for urban properties, local special circumstances such as government initiatives and a growing tourism industry, and underlying macroeconomic factors including low interest rates and a strong economy. These factors have created a favorable environment for the development of the market, attracting both local and foreign investors.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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