[ad_1]
"We have good knowledge, we also have some warnings," said Thursday Vasiliauskas Vitas, a conference on real estate held in Kaunas.
He recalled that the construction sector employs about 7%. of the total number of people employed in Lithuania, the sector generates around 10%. GDP As a guarantee, real estate accounts for about two-thirds of all loans granted by banks operating in Lithuania.
"Therefore, we consider NT as one of the most important parts of the Lithuanian financial system," said V.Vasiliauskas, who commented on his report on the basis of a good knowledge of the NT market.
Irmantas Gelunas / 15min photo / winter
Such cheap housing was not already a quarter of a century old
"We can look forward to an active and sustainable NT market." Growth is relatively sustainable. "One of the most striking evidences is the residential housing segment, where we are reaching record levels of activity. More apartments and homes were sold only in 2005 – 2007. At that time, the population was more important.The demographic situation has now changed and must be taken into account ", said V.Vasiliauskas.
He added that the comparison with 2005 may seem alarming, but there was a significant and important difference between the situation at the time and the current situation in the NT market.
"Market activity and rising housing prices go hand in hand with wage growth, making housing affordable. Currently, the average citizen's housing is 6.5 times his year of work, which is the lowest price set for the last quarter, "said V.Vasiliauskas.
Currently, the average citizen's housing is 6.5 times his year of work, which is the lowest price of the last quarter, said V.Vasiliauskas.
In addition, he stressed, in Lithuania, unlike Latvia and Estonia, the NT market does not only develop in the capital, it is nice, he said.
"There is no sign of overheating in the market, but we must remember that the good times do not last forever.We must be ready to meet the challenges we will face in the future," said V.Vasiliauskas .
Challenges: Higher interest and NT world tax
"It is true that after the outbreak of the economic crisis, it was necessary to stimulate the economy by a boom in growth, first of all thanks to the money cheap, creating an environment characterized by low interest rate loans and low interest rates.We are used to it, but let's not forget that someday it will change. In the spirit that "if …", the interest rate risk should already be included in the medium term, including buyers, developers, builders and the banks themselves, "he said. one of the main challenges ahead in Lithuania bank manager
An aging society is another important problem. The smaller the share of young people in the NT market, the more influential it will be.
Irmantas Gelūnas / 15 min Photo / 15 min Vitas Vasiliauskas, Director of the Bank of Lithuania, visits the studio
"If you take the ideas of experts from the European Commission on a net basis based on previous research, it is clear that the demographic situation is not the best." And the main aspect to which the NT market should pay attention is the forecast that in the next 15 years in Lithuania, the young main tenant will lose about half, so it is obvious that this will affect the market.This distribution between the cities and the undefeated will also increase. will fall, housing prices are now and will remain significantly lower, "V.Vasiliauskas explained.
No matter how much we delay, I think we will not get out of the NT tax, NT fiscal dilemma. Our position is clear – there is a broad base, we will walk a little, "said V.Vasiliauskas.
According to him, in the end, it will solve the problem of the universal tax on real estate.
"No matter how much we postpone, I think we will not go out of the NT tax, the NT fiscal dilemma.Our position is clear: a broad base, a little bit and we drive.Let's delay is not a solution, do not doing nothing is not really good in this case, "said V.Vasiliauskas.
According to him, the lack of clarity of rental housing also has a very weak influence on the NT market.
"We know that a large part of the apartments are rented informally, that rental income is not accounted for and that it is not a characteristic of the mature market." in such an environment, it is difficult to exploit companies offering rental housing, which complicates statistics and predictability.This places the market in a situation where everyone starts to act, "said the head of the Bank of Lithuania.
Offer from the Bank of Lithuania: progressive tax on the NT for all
Tomas Garbaravičius, member of the board of directors of the Bank of Lithuania, said that some countries, when they applied for the NT tax, took into account that the house had been bought for their own funds or borrowed, and applied the tax only to unallocated shares. The expert doubts however that Lithuania uses such a model because it would encourage borrowing.
Vidmantas Balkūnas / 15min pictures / Tomas Garbaravičius
According to him, the NT tax in general reduces the attractiveness of housing as an investment, while speculative investments and debt decrease.
Now, according to T.Garbaravičius, NT's tax is "billed for expensive housing".
"If the value of housing is 2 million.In the case of a natural person, he has to pay 32 000 euros a year.Euro It would be interesting to see if this affects the market of some expensive housing. there is enough in the international context, "he explained.
The Bank of Lithuania proposes a value-added tax rate for NT. The maximum tax rate of TN would be 1%. (now it's 2%).
"The Bank of Lithuania is of the opinion that it is better not to tax the primary and subsequent housing, but to direct to a universal tax on real estate. (… But there are different exceptions for socially sensitive groups, and according to this proposal, the amounts collected in the budget would be much higher, "said T. Barbaravičius. euro
[ad_2]
Source link
