Pilaitė, Naujamiestis and Šnipiškės. Real estate experts identify these three districts of Vilnius as the most popular at the moment, both among developers and among potential and existing buyers.
“For several years now, there has been a noticeable trend that buyers are particularly interested in residential space in Naujamiestis, Šnipiškės and Pilaitė. According to 2016 data, the largest share of housing purchase transactions took place in the aforementioned districts, the most active development of real estate projects is also taking place in these districts, and the largest number of projects are being developed,” – says Ivona Sadovničaja, real estate broker.
According to the latest data from real estate developers, 644 are offered for purchase in Naujamiestis, 644 in Šnipiškės – 560, and in Pilaite – 493 apartments. This is the largest supply of apartments compared to other districts of the capital. The top three districts of the capital, where the most apartments were purchased, are no different: during the first quarter of 2017, 173 apartments were purchased in Šnipiškės, 147 – Pilaite, 131 – In Naujamiestis.
A survey of buyers conducted by real estate development company Eika shows that location in the city is becoming an increasingly important criterion when looking for housing. According to the latest data, this criterion was the second most important when choosing housing, it has become even more important than the price of the housing. And the main criterion remains the quality of construction work.
According to real estate experts, most apartments in Pilaitė are classified as economy class, and it is also an attractive location for those who like to live a little away from the hustle and bustle of the city, and the quality of construction and developers’ projects have been evaluated by experts.
“Pilaitė is one of the youngest districts of the capital with a strong and young community that creates its own rules. It is not surprising that the new district is attracting families aged 30-35 who are planning their future here. Their common interest – “a neighborhood and environment in which it would be comfortable to live not only for them, but also for their children. Developers are also adapting to the needs of a young person seeking knowledge, creating spaces with recreation areas, basketball and volleyball courts, trees and greenery that would both decorate the environment and shape the landscape of the district,” says Martynas Žibūda, Development Director of Eika.
According to the data of the Statistics Department portal, Pilaitė is one of the districts of the capital with the fewest people over 65. In addition, it is one of the districts with the largest number of children under 14.
According to I. Sadovničajā, Pilaitė is one of the newest neighborhoods in Vilnius, especially popular with young families, for whom it is very important to live in a young community, a new district, and new apartment buildings.
“The environment here is perfectly arranged for active leisure: there are forests, lakes Salotė and Gilužis, pine forests. Buyers often choose this area because of the perfectly arranged infrastructure: kindergartens, schools, shopping centers, sports clubs, a polyclinic, and well-maintained bicycle paths. Buyers highlight the Western Bypass as a major advantage, which improves communication with the city center and other neighborhoods,” – says the Capital broker.
Educated, active people who have children or are planning to start a family and who like a quality life away from the hustle and bustle of the city are looking for housing in Pilaitė. “Also, some of the buyers are people who grew up in Pilaitė and cannot imagine living in another neighborhood,” – says I.Sadovničaya.
Two other districts that are popular with Vilnius residents and highlighted by real estate experts – Naujamiestis and Šnipiškės are attractive because they offer accommodation close to the city centre at an attractive price. The aforementioned areas are chosen by those who value living close to their workplace, being close to central attractions and recreation areas, and especially the fact that these places can be reached on foot.
“Apartments in these neighborhoods are a great investment. It is true that Šnipiškės is a more contrasting district, where newly built apartment buildings face old wooden houses. Naujamiestis is increasingly popular with Vilnius residents looking for more interesting spaces and who want to feel the rhythm of the city – lofts are popular here. Abandoned territories and old buildings are actively being managed in these districts, which further increases the attractiveness of these districts,” – my broker.
During the first six months of 2017, about 2,000 apartments were sold in Vilnius. On average, the price of a new home grew by 2.5 percent per year and is currently 1,747 EUR/sq m.