Centre of Registers: Real estate transaction market this year is one tenth more modest
Due to the ongoing geopolitical uncertainty and related economic reasons, the start of this year in the real estate (RE) transaction market is calmer than it was a year ago. The total number of registered real estate transactions this year is one tenth more modest, according to the Centre of Registers, which analyzes the dynamics of registered real estate transactions.
"Usually the start of the year in terms of real estate transactions is calm, but the spring is coming in. However, the ongoing uncertainty in the market this year is leading to lower numbers of recorded real estate transactions than we had last year. Until then, the market was still moving out of inertia, but the april figure was already likely to have adjusted the events in Ukraine. The total real estate activity in April this year is a quarter more modest than a year ago, and the transaction numbers of the main categories of objects – land plots, apartments and residential houses – are about 20 per cent lower than in April 2021," says Paulius Rudzkis, data analyst at the Centre of Registers.
In the first four months of this year, a total of 43.2 thousand people were registered in Lithuania. Real estate purchase and sale transactions – by 10 per cent less than in January-April of the previous year (48.2 thousand). In April of this year alone, 11.5 thousand people were registered. Real estate transactions, or by 22 per cent less than in April 2021 (14.7 thousand) and by 4 per cent less than in March of this year (11.9 thousand).
This year, 11.3 thousand people were registered throughout the country. apartment sales – by 7 per cent less than in January-April 2021 (12.1 thousand), and in April of this year alone – 2.9 thousand, or by 20 per cent less than in April 2021 and by 7 per cent less than in March of this year.
This year, 4.3 thousand people were registered in Vilnius. apartment sales, or 6% less than a year ago. Over the year, the number of apartment transactions in Kaunas decreased by 15 per cent to 1.4 thousand, while in Klaipeda a decrease of 17 per cent in apartment transactions was recorded – in total, about 900 transactions were registered.
This year, 4.3 thousand people were also registered throughout Lithuania. individual residential sales – by 3 per cent less than in the corresponding period of 2021 (4.4 thousand). In April of this year alone, 1.2 thousand people were registered. of residential sales, or 16% less than in April last year and 5% less than in March this year.
Across the country, 21.1 thousand people are also registered. changes in the owners of land plots – by 13 per cent less than in January-April 2021 (24.2 thousand), and in April alone – 5.7 thousand, or by 22 per cent less than in April of last year and by 1 per cent less than in March of this year.
For more information on the dynamics of real estate transactions, see Here.
When studying the activity of the Lithuanian real estate market, the Centre of Registers summarizes the data of real estate transactions, which include purchases from natural or legal persons, in bidding, leasing or installments, etc., not including state land purchase transactions.
When assessing housing market data, the Centre of Registers allocates housing objects to residential buildings (buildings and buildings of one, two, three or more apartments for various social groups) and residential premises (apartments, premises for various social groups and residential premises).
Source: State Enterprise Centre of Registers (registrucentras.lt)