| Abstract [eng] |
Real estate market problems of the world have paid special attention, since history knows many examples of sad that left a deep trace in some economies. Over the last several years, and Lithuanian real estate market has attracted considerable attention. On the possible overheating of the market started to talk back as 2004, but last year's Lithuanian real estate market pace surpassed many experts and analysts' expectations. Real estate prices in Lithuania were similar during and throughout the world, but most housing growth that is largely financed through mortgage loans, the price. In the event of favourable conditions for housing, the market was formed in the excess demand, which resulted in both people wish to buy their own homes, both for speculative purposes, i.e. desire to profit from rising housing prices. In addition, some experts have linked the rising housing prices all over the country with a growing economy, which in 2003 grew the fastest in Europe, namely at the time, and real estate prices began to rise. Therefore, scientists and representatives of central banks, prices started to rise rapidly, began to talk about the possible emergence of bubbles, but also about the possible negative effects of the real estate price bubble in the effects of the economy - growth retardation, household insolvencies increased frequency, even a possible banking crisis, etc. . The current economic crisis, real estate price drop is a natural phenomenon. If they fall in conjunction with other economic indicators such as GDP, employment or price level, it does not fall in the market-specific phenomenon, but rather a consequence of the accession economies. Work subject - the price bubbles in the real estate market. Work objective - to examine the theoretical aspects of the economic bubble concept and identify the factors most influencing real estate prices increase in Lithuania. The work consists of three parts. The first part of this work „Theoretical aspects of economic bubbles" analyzed the economic and real estate price bubbles interpretation of the concept, an overview of the economic bubble types and species, examines the theory of bubbles and models. Also in this work identifies the real estate price bubble causes. The second part of this work “The real-estate bubbles analysis” analyzed the real estate price bubbles, originating in the world, also gives rise to their causes and consequences of the various economies. In addition, this section also identifies the factors common to all countries that are most influenced by the real estate price bubbles rising in those countries. The third part “Research of bubbles in Lithuania real – estate market” discussed the study methodology, under which the test is conducted. This section first defines the link between fundamental factors and housing prices, according as, find the factors most influenced the housing price increases. Also in this section accomplished an expert assessment, which helped to identify the factors that led to the formation of real – estate prices bubble in Lithuania. This work consists of 65 pages, 56 literature sources were used, 20 pictures and 8 tables. |
