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Where is worth the most to buy RE and when will the price drop?

2021-11-17

Universal crisis touched and real estate market - Lithuanians realized that they have money and started investing it not to lose their wealth. 

Sometimes you can hear that the current price jump is short-term and in the long-term the RE prices will drop. Those who rushed to take loans and buy property at the start of the pandemic - will regret it. Experts believe that investing savings in RE is fine and people shouldn't linger, however, they should buy only after deliberation.

'Profitus' founder and director Viktorija Cijunskyte, says that, when buying RE for personal use, you need to buy only then, when you actually need it. Since buoyant demographic measures are present in both Vilnius and Kaunas, they are also promising in other the biggest Lithuania's cities, demand will stay and opportunities for buyers are especially great:

'If we look at affordability, it's still at the highest level. When evaluating inflation, buying power of money and residents as well as comparing proportionally with data from 2006-2008, now we can afford much more than back then.'

According to Viktorija Cijunskyte, now it's worthwhile to invest in real estate. The housing bubble is a process when demand is superficially high, this process automatically raises the price. 'We have seen this more than 10 years ago. Now demand for RE jumped sky-high as people in Lithuania saved record amounts of money and they don't have where to put them without the threat of devaluation.

The number of unsold flats is record low - about 3,500 - when demand is about 5000, which means contractors sell their completed properties almost in a quarter. Therefore, people don't have what to choose from. When there is no choice, it means that the market price is growing. As I said, I wouldn't call today's situation a housing bubble. It is rather a natural economic indicator.' - claimed V. Cijunskyte.

Additionally, 'Profitus' founder said that individuals who invest are always upfront as they take care that inflation wouldn't eat their savings. Indeed, when they invest safely and responsibly. Investition in RE is long-term, it isn't a quick scheme to get rich like bitcoin is. Therefore, those who rush don't win, but rather people who diversify their investment portfolios win. The winners will stay those who have a long-term strategy and not individuals who aim to get rich quickly.


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