The apartment market in this region is in trouble, but the sale of own houses – surprising: buying and housing in the center

“If we compare the market activity with September and early October of last year, it is similar to this year. However, if we compare it with spring and early summer, the market is much more active,” says Valentinas Karvelis, Inreal real estate broker in Utena.

The focus on farms has decreased

The housing segment also includes farms, whose sales in Utena were “on the wave” during the quarantine period, but after the end of restrictions on social activity, they returned to normal.

“Currently, there is much less interest in farms outside the city. Probably, after the end of the quarantine, the emotional effect disappeared, a certain illusion of” freedom “living on the farm, people began to think more rationally I could not say that I no longer buy farms. Buy, but only for those for whom that lifestyle is really acceptable, and not only for those who want to escape the isolation of the apartments “, says the real estate broker of Inreal.

The most popular are individual houses within the city limits.

Meanwhile, individual home sales in the city of Utena are constantly growing. According to V. Karvelis, this is also happening because a new offer is emerging: many houses are not being built for themselves, but for sale. The most attractive are new, compact buildings – 80 – 130 square meters. single-family homes with partial completion, which cost about 100,000 euros. If in the past there was only one of them in the offer, now the offer has increased significantly.

Individual housing block development is reluctant

There are still many plots around Utena where it is possible to develop individual house blocks, but the developers do not hesitate to take that step. The main reason is fear of risk. “Usually, a developer really has opportunities to invest in the construction of 10 or 15 houses at a time, but he is still worried about the fear that the profitability is too slow and the market situation may change during that time. The biggest target is 6 houses at a time ”, says V. Karvelis. Buying houses “from drawings” in the regions, which has already become commonplace in large cities, is difficult to get. “If I only get one more call at the drawing stage, their number increases with the geometric progression as I cover the roof of the house,” says the real estate broker.

Shallow apartment market

The domestic market is also activated by the fact that the apartment market in Utena is completely exhausted. “Sales of old apartments continue, but everything turns” in its own juice “: someone leaves, someone inherits, etc. There are very few new apartments and even some of the planned projects have been suspended,” says V. Karvelis. It is true that a new 12-apartment three-story house is currently being projected on Aukštakalnio street, which we could attribute to the luxury segment on the Utena scale.