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Very few Lithuanians plan on property acquisition this year

Tomo Urbelionio/BFL nuotr. / Būstas
Šaltinis: BNS

A mere 2 percent of the Lithuanian population is planning to purchase a piece of real estate in the coming 12 months, the latest survey by RAIT showed on Thursday.

Ninety-four percent of the population said they had no such plans and another four percent said they had not decided yet.

"The results of the survey reveal that the property market recovery is rather complicated. Compared with the surveys we carried out in 2006 and 2007, fewer people are now planning to buy real estate. The figure was 7 percent in 2006. Also, in 2006 and 2007, more people were planning to buy an apartment or a house, rather than a a piece of land," RAIT Chairwoman Inga Nausėdienė said in a press release.

The percentage of potential property buyers planning to spend more than 50,000 litas (EUR 14,500) dropped to 30 percent this year, from 55 percent in 2006.

Among those who claimed they were planning to purchase real estate, 30 percent intended to buy land, 22 percent an apartment, and 10 percent a residential house. Another 12 percent said they would probably buy a summer house, and nine percent an allotment garden.

Twenty-five percent of those planning to buy real estate said they would take out a loan for that purpose. Sixty-three percent said they did not plan to take out a loan and 12 percent said they were undecided.

Thirty-seven percent of all potential buyers said they would probably purchase real estate in a rural location, 23 percent in Vilnius, 13 percent in Kaunas, and six percent in Klaipeda.

Rait polled 1,009 people on 11 to 20 January.

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