Changes of real estate sector in context of economy Lithuania

Straipsnyje pateikiamas nekilnojamojo turto sektoriaus vertinimas lyginant šio sektoriaus makroekonominius ir finansinius rodiklius su bendromis šalies ūkio tendencijomis. Bandoma parodyti nekilnojamojo turto sektoriui būdingas tendencijas spartaus ekonomikos augimo, pasaulinės ekonomikos krizės ir ūkio atsigavimo laikotarpiais. Svarstomos nekilnojamojo turto sektoriaus tendencijų nesutapimo su šalies ūkio padėtimi priežastys. Finansinių rodiklių pagrindu atrenkami svarbiausi santykiniai rodikliai, padedantys įvertinti šio sektoriaus efektyvumą šalies ūkio kontekste.The paper analyses macroeconomic and financial ratios of Lithuanian enterprises (real estate enterprises) in the period from 1998 to 2010. During the period in question, which was selected consciously and purposefully, Lithuanian economy experienced two recessions: the first one took place after the Russian crisis 1998, the second one started in 2008, together with the global financial crisis. In the period between the two crises, a rapid economic development was observed. The efficiency is assessed using various financial ratios, reflecting various aspects of performance of an economic entity: its capability to secure income, to perform profitably, to properly manage liabilities, to make proper use of available potential, to avoid jeopardising its further performance. Since no common methodology for the assessment of economic efficiency has been developed yet, it is offered to form an integral aggregate ratio to make possible the intercomparison of economic sectors and to determine the level of efficiency based on a set of financial ratios, not on each of them separately