Lithuania:could it be the next big thing?

Z

z106

Guest
Ok people - any ideas ?

It got a big write up in a coupkle of sunday newspapers last weekend and i've heard it being branded around th eplace.

Could it bne the "NExt big thing"?

Any opinions welcome.
 
Re: Lithuania

Thats what I d like to know . Was it an advertisement made to appear like news ? and what was the basis for it being the next big thing ?
 
Re: Lithuania

If Vilnius doesn't take your fancy, try Kaunas or Klaipeda but the property price increase strated about 2 years ago.
 
According to RTE (network 2) Bulgaria is the next big thing. They were plugging it all afternoon. Someone in that company must have shares in the place.
 
No, just a segment paid for by a developer or agency. it's normal. Even the supposedly independent "find your dream home" shows are heavily paid for by the same. My colleague turned down, last week, a German tv production company who wanted €20,000 to make a show all about a person who wished to move here. Newspaper hacks are worse, looking for a free holiday and writing whatever you ask for.
 
All they need to make anywhere the "next big thing" for Irish buyers is to do the following:

1. Sell a few big developments off plan and push up the prices way above local levels.

2. Push up prices still further in order to pay for "guaranteed rentals" for a couple of years.

4. Take out an expensive advert in the Sunday Indo and insist on some flattering editorial.

5. Hold an exhibition and reel them in!
 
Jim Power had an interesting short piece in today's Sunday Tribune in which he argues against people investing willy-nilly in foreign property in response to a more positive spin from somebody who sells investment properties.
 
I worked in Lithuania (as well as other eastern-block countries) in early 1990s, soon after their independence. At the time, it seemed to be an economy which was beyond redemption. Corruption was rife, and there were ethnic issues just below the surface. It has come a long way, but I continue to be a sceptic.
 
It was recently deemed to be one of the least corrupt places to do business with by some international independent report.
Also meant to be very very easy for foreigners to do business in.
80%LTV also available for foreigners.
100% loans available for locals.

I actually haven't read anything negative at all about the countrys prospects.

It's getting a lot of good reviews - prices are also cheaper than it's neighbouring baltic states.
 
qwertyuiop said:
It was recently deemed to be one of the least corrupt places to do business with by some international independent report.
Also meant to be very very easy for foreigners to do business in.
Click to expand...

Having lived there, and had a lot of contact with ex-pat business people, that surprises me. I'd still consider it to be quite corrupt - although they are trying to improve things.

And the hoops that need to be jumped through if you aren't going the 'brown envelope' route are insane.

Prices outside the capital are probably still reasonable enough, but prices in Vilnius itself have risen rapidly over the past few years.
 
qwertyuiop said:
It was recently deemed to be one of the least corrupt places to do business with by some international independent report.
Click to expand...
You might be talking about the Global Corruption Perceptions Index 2006 from Transparency International.

If you are Lithuania doesn't get a glowing score. It comes 46th.

Estonia or E-stonia as they were going to re-brand themselves once gets a very good score, better than us in fact. Of all those countries I'd pick it as the most likely to succeed economically, but it doesn't mean I will be engaging in wildebeest-like behaviour and purchasing a pad over there. The ones who've made the killing in Estonia are likely to be Finns who bought in a long time ago.

"The next big-thing" is I hope a return to some sanity about international property investment in general. Unfortunately people are still piling in to the "guaranteed rental" scam and financing the lifestyle of some pretty unsavoury characters.
 
Isnt this thread about Lithuania and not Estonia ? Or are you lumping them in together ?
 
Lithuania were the ones came 46th in the Corruption Index. I've edited my post to be more precise.

I just said that Estonia was the most likely Baltic country to succeed and I wouldn't lump them together as the link with Finland is highly beneficial to the Estonians as they're both Finno-Ugrics!
 
Frank Knight have tipped lithuania to be the best performer for residential property in 2007.
 
Given that they are invloved in selling property, I would say they would have a vested interest.

One thing that would bother me about any of the ex-USSR states is that Russia is very quick to fall out with them-witness the recent row between Estonia and Russia (I'm not lumping them together) and ongoing tensions with the Ukraine and Armenia (among others).
 
Frank knight are not selling much/if any property in Lithuania to my knowledge.

I accept that people should be wary of what estate agents say but I don't agree in dismissing any point of view given by every agent.
They ranked all the countries in Europe and Lithuania was top.
They are a very reputable internation firm.

They're not gonna risk their international rep just so some franchisee in Lithuania can sell a few extra new builds this year.
 
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