This post was automatically translated into English
Senamiestis and Antakalnis are the capital’s districts where people are most often looking to buy apartments. Although these districts are not among the leaders in terms of supply, real estate market data for April shows.
Old Town and Antakalnis are the districts of the capital where people are most often looking to buy apartments. Although the aforementioned districts are not among the leaders in terms of supply, this is shown by the April real estate market data. In Antakalnis, there are currently 430 apartments to choose from, and in Old Town, slightly fewer – 370. In terms of apartment supply, these districts are significantly ahead of Pašilaičiai, where buyers are waiting for as many as 630 apartments (260 old, i.e. built before 2011, and 370 new).
According to Evaldas Narbuntovičius, project manager of the real estate advertising portal Domoplius.lt, Pašilaičiai is not the most attractive district according to visitor searches. Only about 2 percent of people who visit the advertising portal are looking for apartments there.
“As the queries show, visitors to the portal quite often do not mark a specific district and look for apartments according to other criteria – price, area, condition or type of heating. However, if they choose a specific district, they are most likely to look for apartments closer to the center, the Old Town, and recently the New Town has also become popular among potential buyers. As statistics show, residential districts are not a priority for visitors to the portal, although the supply of apartments for sale in them exceeds the districts closer to the center,” says E. Narbuntovičius.
Although the largest supply of apartments is currently in Pašilaičiai, however, considering the supply and demand ratio of last year, this district, together with Fabijoniškės, has entered the list of the most illiquid districts of the capital. Currently, 300 apartments are being sold by owners in Fabijoniškės: 110 in old and 190 in new apartment buildings.
As Martynas Žibūda, Development Director of Eika, notes, real estate developers assess the potential and liquidity of each district before undertaking new projects and investments.
“Considering the housing liquidity data for Pašilaičiai and Fabijoniškės, it is likely that these will be the least attractive districts for real estate developers in the near future. Apartments in already built houses are also selling slowly here, so developers are hesitant to make new investments. They are closely monitoring the market and investing in those districts where demand is highest, regardless of supply, such as Pilaitė or Užupis. Of course, districts where supply is low, such as Jeruzalė or Šeškinė, are even more attractive,” says M. Žibūda.
Naujamiestis is building its supply muscles
The largest number of new apartments – almost 450 – were sold in Pilaitė last year, i.e. every fourth new-build apartment on offer was purchased there. Last year, this district became the most liquid in terms of supply and demand. Currently, buyers in Pilaitė can choose from 280 apartments (220 in new and 60 in old apartment buildings).
According to M. Žibūda, the New Town, located near the center, also stands out in terms of apartment supply, and has become popular with both housing developers and buyers a few years ago.
“If we compare the increasingly popular Naujamiestis, for example, with the sleeping areas, we will see that there are four or five times more old apartments for sale there. Currently, 240 old-construction apartments and the same number of apartments in newly built apartment buildings are waiting for buyers in Naujamiestis. Currently, in terms of apartment supply, Naujamiestis is second only to Pašilaičiai. It is predicted that the options for those looking for housing in Naujamiestis will increase even more, as several new apartment projects are planned there,” says an Eika representative.
Užupis raises prestige, while Jeruzalė and Šeškinė remain forgotten
Baltupiai, located in the northern part of the city, and Antakalnis, located in the northeast, are also distinguished by a large selection of apartments for sale. In both districts, as many as 430 apartments are waiting for their owners. Newly built apartments dominate in these districts, and the selection of older ones is smaller than in the center or near it in Naujamiestis. In Antakalnis, 110 apartments are for sale, in Baltupiai – only 50 old-built apartments.
According to real estate expert M.Žibūda, Užupis is also being rediscovered. It is planned that the district on the other side of the Vilnelė will soon become a leader in prestigious housing. Several new apartment projects have already been launched there. However, so far, new apartments in Užupis account for only 4 percent of the total supply of new apartments in Vilnius. Currently, 160 new apartments are being sold there.
The wasteland for new apartments in the capital is currently Šeškinė, and a week ago, so was Jeruzalė. Currently, not a single new apartment is for sale in Šeškinė, and in Jeruzalė, a new project of 110 apartments has added to the offer. Those wishing to live in these districts can currently only choose from already built old-construction apartments: in Šeškinė – 70, and in Jeruzalė only 40 apartments. In total, 3.3 thousand new-construction apartments are currently offered in Vilnius.
About the Eika group of companies
Founded in 1992, 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.
About Domoplius.lt
According to GemiusTraffic, the real estate listing portal Domoplius.lt has an average of more than 390 thousand visitors per month. Currently, the portal has more than 40 thousand real estate properties for sale for 28.5 billion litas..
More information:
Vitalija Roče
Marketing and Communications Manager
Phone: +370 698 56273
Email: [email protected]
Evaldas Narbuntovic
Domoplius.lt project manager
Mobile phone +370 682 54 351
Email: [email protected]