A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Būsto kainų burbulo vertinimo modeliai. Būsto kainų burbulas Lietuvoje ; Real estate bubble evaluation models. Real estate bubble in Lithuania
There are three main methods of housing bubble valuation, which are most commonly used to evaluate bubbles: the fundamental factors (which have an impact to housing supply and demand) method, price to rent method, and price to income method. All these methods can be modified and improved in order to evaluate the housing bubble more precisely. We offer to use the method that is the best to correspond to the housing market in the country. This article evaluates the housing price bubble in Lithuania during 2000-2008 period, by using modified price to income method. It was identified that there was a dramatic increase of housing prices, comparing to an increase of wages. In the second quarter of 2007, the price bubble raised up to 50% of housing value. This big increase and forthcoming decline of prices can make a strong impact on the economy of the country. In the future we must analyze these price variations more precisely and inform the public about possible price declines or to indicate how much wages should increase that the housing price to wages ratio would stay at historically normal level.
Būsto kainų burbulo vertinimo modeliai. Būsto kainų burbulas Lietuvoje ; Real estate bubble evaluation models. Real estate bubble in Lithuania
There are three main methods of housing bubble valuation, which are most commonly used to evaluate bubbles: the fundamental factors (which have an impact to housing supply and demand) method, price to rent method, and price to income method. All these methods can be modified and improved in order to evaluate the housing bubble more precisely. We offer to use the method that is the best to correspond to the housing market in the country. This article evaluates the housing price bubble in Lithuania during 2000-2008 period, by using modified price to income method. It was identified that there was a dramatic increase of housing prices, comparing to an increase of wages. In the second quarter of 2007, the price bubble raised up to 50% of housing value. This big increase and forthcoming decline of prices can make a strong impact on the economy of the country. In the future we must analyze these price variations more precisely and inform the public about possible price declines or to indicate how much wages should increase that the housing price to wages ratio would stay at historically normal level.
Būsto kainų burbulo vertinimo modeliai. Būsto kainų burbulas Lietuvoje ; Real estate bubble evaluation models. Real estate bubble in Lithuania
Azbainis, Vytautas (author)
2009-01-01
Socialinių mokslų studijos = Social sciences studies : mokslo darbai, Vilnius : Mykolo Romerio universiteto Leidybos centras, 2009, Nr. 1(1), p. 269-287 ; ISSN 2029-2236
Article (Journal)
Electronic Resource
Lithuanian , English
DDC:
720
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