Over a half of Lithuanian residents believe residential property prices will go up over the next 12 months as such expectations have almost gone back to the level seen a year ago, the latest survey commissioned by SEB bank has revealed.
Over half of Lithuanians believe property prices will go up
© DELFI / Domantas Pipas

52 percent of people surveyed believe property prices will rise. 15 percent believe they will go down and 26 percent expect no change. 7 percent had no opinion.

SEB economist Tada Povilauskas says expectations are growing as the situation in many areas of the economy improved in the third quarter, the situation in the labor market and residential income stabilized and residential property prices did not go down significantly.

"The percentage of residents who believe property prices will go up over the next 12 months mostly grew in the Vilnius region, and people remains more cautious in other regions. Their expectations are likely to be slightly worse in the fourth quarter than they were in September," the economist said in a statement.

In his words, expectations will be worse at the end of the year as the economic situation will be worse than in the third quarter, exacerbated by the growing number of coronavirus cases.

The survey of 1,000 people, aged 15-74, in the country's 119 areas was carried out by Baltijos Tyrimai.

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