This post was automatically translated into English
In July, the Vilnius primary real estate market recorded the lowest number of sales this year, which was influenced not only by the economic slowdown, but also by seasonality.
In July, the Vilnius primary real estate market recorded the lowest number of sales this year, which was influenced not only by the economic slowdown, but also by seasonality..
According to preliminary data from the State Enterprise “Registrų centras”, over 50 new apartment sales transactions were registered in July. These data are also confirmed by Tomas Žiaugra, a market analyst at UAB “EIKA”, who states that less than one apartment was sold/reserved in each Vilnius real estate project, of which there are about 70 (excluding suspended and frozen projects). The market analyst states: “the situation in the primary Vilnius real estate market is not hopeless, although there were false reports in the press that only 10 new construction apartments were sold in Vilnius in July.”
The largest number of apartments sold/reserved in July was recorded in the economy class, with about 30 apartments sold/reserved. Home buyers most often chose apartments in Pilaitė, Lazdynai and Žirmūnai. In the middle class, about 10 new sales/reservations were recorded in July, but it is difficult to single out the most attractive districts. The worst situation is in the prestigious class, where sales/reservations in many projects were zero or even minus. The greatest activity in this class was in projects located in Naujamiestis.
“July is the most summery month of the year in terms of both good weather and apartment sales – it is almost impossible to avoid seasonality,” says T. Žiaugra. In recent months, buyers have increasingly trusted well-known developers, whose apartment sales have been the highest in the last few months compared to projects by smaller developers. Although sales of new apartments are decreasing, interest in new housing remains. This is evidenced by the growing number of visitors to real estate portals, so it is too early to state a stagnation in apartment sales. We will be able to assess the real situation in the real estate market only when autumn comes.
About the Eika Group of Companies
Founded in 1992, the company “Eika” is one of the largest real estate development and construction groups in Lithuania. The group of companies consists of: UAB “Eika” – a leader in the real estate market, valued for its innovation, reliability and responsibility; UAB “Eikos statyba” – a construction company with extensive experience in the construction and renovation of administrative, public, commercial, industrial and residential buildings; UAB “Inžinerinės idėjos” – specialists in the design, installation and maintenance of engineering systems. The quality of the services of the group of companies is ensured by the implemented quality and environmental standards ISO 9001:2000 and ISO 14001:2004.
More information:
Dom Dargis
Development Director
Tel. +370 5 2514 253
Fax: +370 5 2514 256
Email: [email protected]