Aug 13, 2009
Vilnius – only 50 apartments sold in July
Imagine Vilnius, the capital of Lithuania, with 546 733 inhabitants, and only 50 new apartments sold in July. 50 – like one bottle of wine per day in the city’s most popular restaurant. Balsas.lt author suspects seasonalities.
However, in my opinion this factor is scrubby. There’s a winter season approaching, and many people already now start thinking how to maintain debts and public utility bills, new electricity prices and so on. Many apartments waiting to be sold now will become a true load for real estate brokers in winter and as a consequence of winterizing (and many other factors) prices is likely to be falling.
According to the authors, there are 70 real estate projects in Vilnius today, 30 apartments were sold in eco-class sector. But real estate brokers are mastering great plans. They are motivating people to purchase flats citing real estate web-portals traffic increase. In my opinion those two factors are hardly correlating. That’s like comparing nation’s healthiness with health related portals visitors. Like banks with invest-portfolios pretexts (that’s a bottom – buy, its rising – buy) real estate brokers can always find a reason and its description to invest in Lithuanian flats. Think your own head, dude.
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[...] have been falling for already 19 successive months. Meanwhile, activity in the market fell to a record low, with only 50 new Vilnius apartments sold in July. This compares to 3,500 flat deals monthly during [...]