| Title |
Nekilnojamojo turto kainų burbulą lemiančių veiksnių vertinimas Lietuvoje / |
| Translation of Title |
Evaluation of Factors Causing the Real Estate Price Bubble in Lithuania. |
| Authors |
Macionytė, Rūta |
| Full Text |
|
| Pages |
78 |
| Keywords [eng] |
real estate price bubble ; Lithuanian real estate market ; correlation and regression analysis |
| Abstract [eng] |
Theme relevance. Lithuanian real estate market is still young and there is no historical data that would allow analysing real estate price fluctuations in Lithuania on long-term historical context. Real estate sector crash in 2007 was followed by global economic crisis. At that time the first real estate bubble emerged in Lithuania that revealed the significant impact of real estate sector crisis on whole Lithuanian economy. Despite the slowdown in the country’s annual GDP growth the real estate market prices rises rapidly each year since 2010. Lithuanian Department of Statistics (2016) announced that in 2016 was recorded the biggest increase in real estate prices since 2008. Therefore, it is not surprising that recently more and more real estate experts start talking louder about possible threat, i.e., that Lithuania’s real estate market may form a new real estate price bubble. The final work object is factors that cause real estate prices bubble formation. The final work aim is to evaluate factors causing real estate price bubble in Lithuania. The final work tasks: 1. To analyze the real estate market characteristics. 2. To analyze stages of the real estate price bubble formation, 3. To analyze current methods that are used to identify and assess factors leading to real estate price bubble formation. 4. To establish a test method based on a correlation-regression analysis which would allow to evaluate factors causing real estate price bubble formation. 5. To perform analysis evaluating main factors causing real estate price bubble in Lithuania. The final work results: The analysis of real estate prices and related factors showed up that a real estate price bubble (28%) has formed in Lihuania in the period of 2010-2011. Research showed that the main factors that caused real estate price bubble formation in Lithuania were average net monthly earnings and number of building permits granted per year. A signifficant influence on real estate price bubble formation in Lithuania had factors as unemployment level, GPD and the average annual rate of housing loans. |
| Dissertation Institution |
Kauno technologijos universitetas. |
| Type |
Master thesis |
| Language |
Lithuanian |
| Publication date |
2017 |
