A Lithuanian city where the rental market is going through a golden age: there are queues next to empty apartments



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The screen changes face

Although the capital of Aukštaitija still does not have the image of a resort town, the owners who offer services here do not lament the cracked gelda even after the quarantine. The need for both long and short-term rentals, according to representatives of this sector, is only growing.

There is no shortage of vacancies in Panevėžys when advertisements are offered on the Internet, offering to rent rooms or apartments for a day or even an hour. Rental rates range from an average of 20 to 50 euros per day. After settling down for a month, you would have to pay up to 600 euros for the rent.

However, a very inexpensive option is also offered for a short stay in Panevėžys. For only 4-5 euros you can get a bed even in the premises of the old factory “Ekranas”.

“We are located in the middle of the territory, in normal buildings, certainly not in ruins,” laughs Greta, the manager who answered the phone number in the rental ad.

According to her, accommodation has been provided at the facilities of the huge CRT for almost a year.

“The need for our services is really high. Currently, all ten rooms are occupied,” says the interlocutor.

Although the capital of Aukštaitija still does not have the image of a resort town, the owners who offer services here do not cry after a quarantine: the need for both long-term and short-term rental is only growing (photo by P. Židonis).

Although the capital of Aukštaitija still does not have the image of a resort town, the owners who offer services here do not cry after a quarantine: the need for both long-term and short-term rental is only growing (photo by P. Židonis).

© Sekundė.lt

Asylum for Ukrainians

According to Greta, the territory of the former Ekranas is inhabited mainly by workers from third countries, usually Ukraine. The companies that hire them usually rent a shelter for the entire workforce in this place. In this case, employers can also get rooms at the lowest price offered.

Sometimes compatriots who have returned temporarily from emigration also request accommodation.

“People live in our rooms one to two or two. It is like small apartments, they have kitchens, showers, bathrooms, washing machines, internet. After agreeing on the clients’ accommodation, we fix and change the bedding,” said the administrator .

Cheaper apartments at this location with shared showers. A superior double apartment also costs 10 euros per day.
“There was a need for such services in Panevėžys, that’s why we appeared here. Our rental price is lower than elsewhere and many people do not want to accept workers from third countries, ”says Greta.

Builders and emigrants

Vaidas Šukys, director of the real estate agency operating in Panevėžys, confirms that it is foreign workers and migrants who are looking for a short-term rental. Tourists, according to him, still have few clients in the capital of Aukštaitija.

A Lithuanian city where the rental market is going through a golden age: there are queues next to empty apartments

According to V. Šukis, the apartment rental sector in Panevėžys is flourishing and growing.

“The quarantine has slowed the flow of tourists who pass, but another need has increased: for several days and weeks, specialists, workers and migrants have been looking for housing. The latter do not want to be a burden on relatives and families, so they rent separate apartments in Lithuania for a short time, ”says the real estate expert.

Construction companies often seek worker shelters, as not all landlords allow such tenants.

“Some builders cannot even enter. They need different conditions: if the apartment has a double bed, a blanket for two men is not enough. Or four residents request a double house, and more people, more utility costs,” says V Šukys.

The quarantine has slowed the flow of passing tourists, but another need has increased: for several days and weeks, specialists, workers and migrants have been looking for housing.

V. Šukys

Growing business

According to V. Šukis, in Panevėžys the number of people creating businesses from short-term rentals is increasing, although so far more people are inclined to let permanent tenants enter their homes for a long time. According to a real estate expert, it is becoming popular to buy apartments and rent them.

Some buyers do not hide when buying a property for rent: both in the short term and in the long term. The latter still makes up the bulk of the offer, ”says V. Šukys.

According to him, up to 10% of people decide to do business in this way. owners of purchased apartments. And even five years ago, such a trend was not even seen.

“Previously, there was no housing rental market in Panevėžys. Long-term rentals were cheap and not worth doing, and there were not even short-term rentals. Now the inhabitants of Panevėžys have 10 apartments each and offer their services even through Internet hosting service platforms, ”says V. Šukys.

A Lithuanian city where the rental market is going through a golden age: there are queues next to empty apartments

According to him, the price of short-term rental in the capital Aukštaitija ranges from 25 to 50 euros per day on average.

There were queues near the apartment.

Sigita from Panevėžys came up with the idea to rent her apartment in Panevėžys for 100 euros a day. However, this home was later transferred to long-term tenants. Rent four more apartments for 50 euros a day for a short time: from day to month. Sigita believes that short-term rentals are more profitable than long-term ones. A 2-room apartment in Panevėžys, on Vilniaus Street, would cost 600 euros per month.

“The price is like that, because the apartments are completely renovated. They have dishwashers and washing machines. Those who want comfort are not afraid, “says the businesswoman who rents the apartments.

Sigita claims that her services were especially popular during the summer. Those who wanted to rent their apartment for a short time in July even had to queue. In the fall, the demand decreased and currently one Sigita apartment is empty.

“We don’t have tourists. Our apartments are rented mainly by returning migrants. Families who have started repairs to their homes also stay temporarily,” says the businesswoman.

Sigita does not hide the fact that during the strict quarantine last year, companies of friends who wanted to meet and communicate applied for short-term leases. However, the hostess claims that she prohibits the holding of parties in her rented accommodation and complied with the security requirements established during the quarantine.

Prices are rising like yeast

The heads of the real estate agencies operating in Panevėžys confirm that these days rent can be well earned in the short term. It is only necessary to estimate the costs of such a business – the owner has to change the bedding himself, tidy up the rooms. However, the long-term rental does not stop and their prices rise like yeast. For particularly sought after and well-equipped apartments in the center of Panevėžys, tenants are already depositing 300 euros or more per month.

“Specialists who come to city companies from abroad are looking for well-equipped apartments and cabins. They are willing to pay even more,” says Arūnas Markevičius, director of the real estate agency in Panevėžys.



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