Housing in this district is available only to exclusive buyers – some property prices are higher here than in the old town.

A prestigious area where construction is much more expensive

Žvėrynas is a part of Vilnius, located northwest of the city center, on the right bank of the Neris. Situated along the Neris river, which connects the central part of the city with the Žvėrynas and Liubartas bridges and the pedestrian bridge with the Vingis park.

The zoo is characterized by low-rise buildings, small streets, and a large amount of vegetation. As a result, it is especially valued by property buyers. During the Soviet period, apartment buildings and public buildings were built in Žvėrynas. There are residences of foreign embassies and diplomats located here.

In the 20th century, before the war, farm houses were built in Žvėrynas and several summer houses were built. Some houses were designed by famous architects. In the interwar years Žvėrynas used to have dormitories for gym students from Vilnius, and by the river Neris there was a dormitory for girls named after Birutė.

According to Mindaugas Statulevičius, president of the Lithuanian Real Estate Development Association, Žvėrynas is a unique part of Vilnius, which certainly attracts real estate developers.

“It is a unique neighborhood, prestigious, protected, low-rise construction, dominant housing construction, one of the greenest neighborhoods, because it is close to the parks, the river flows. It has all the attributes of a sustainable life. For this reason, the promoters evaluate the projects in this district well, they try to develop model projects here, ”says the real estate expert.

M. Statulevičius stresses that construction in Žvėrynas costs more. After all, in this unique place there are more requirements for buildings than in Soviet neighborhoods.

“The highest standards are and must be maintained here. The city takes the position that there should be a higher architectural quality in this area, some developers even organize architectural competitions. The requirements for architecture are high, sometimes close to what they apply to the Old Town ”, explains the interlocutor.

More expensive real estate than in the old town

The zoo is also popular with the population. Vilnius residents appreciate the fact that the district is close to the city center, has a well-developed public transport infrastructure, and is easily accessible by car. There are bicycles, hiking trails, green areas, catering service and grocery stores. All these advantages, of course, affect the prices of real estate in Žvėrynas.

However, this area is the most attractive for its architectural and historical heritage. Tomas Sovijus Kvainickas, Inreal Group’s Head of Investment and Analysis, says that Žvėrynas is a district of contrasts. According to him, houses with one of the highest prices in Vilnius and old abandoned wooden houses coexist here. The latter are often not only included in the area of ​​cultural heritage, but are also cultural heritage sites. According to the real estate analyst, the Žvėrynas nursing home can be divided into two parts: the old “peninsula” located south of T. Narbuto and Sėlių streets, and Saltoniškės, on the north side of the nursing home.

“The southern part of Žvėrynas is lower than Vilnius Old Town in terms of house prices and sometimes even exceeds it. This is because the River Neris surrounds the “peninsula” on three sides and forms a relatively large area of ​​great appeal. In the old town, meanwhile, some places are a bit more abandoned, still awaiting their revival, and projects currently for sale are forced to charge slightly lower prices. The northern part of Žvėrynas, although cheaper in terms of house prices than the southern part, is ahead of the nearby Šnipiškės, ”explains TS Kvainickas.

How much does housing cost in Žvėrynas?

The interviewee continues that a large part of the apartment buildings in Žvėrynas were built before 1940, a small development took place around 1960. For a long time, development was largely unsuccessful and after regaining independence, only builds another apartment building every year. In the nursing home: more than 4300 apartments, their average area is approximately 65 square meters. meter. The absolute majority of apartment buildings are 1-6 story, brick.

“The development of new apartment buildings in Žvėrynas is especially limited. This is determined both by the limited supply of objects suitable for conversion and by the particularly active community of residents of Žvėrynas. During 2012, just over 20 residential projects or their major stages were developed in both parts of the nursing home, more than 1,200 apartments have been offered to the market (about 400 in the southern part, the rest in the northern part). There are up to 5 projects offering housing on the market at one time. Currently, only a few projects are publicly available in Žvėrynas, and only two of them have at least a minimal housing option. The prices of the supplies are around 3000 Eur / m2. In the rest of the projects, you can choose between a few or even an apartment, and prices can reach 5,000 Eur / m2 “, calculates the real estate analyst and adds that the current shortage of supply does not mean that it will not exist in the future.

“Turto bankas recently sold the old apartment building on Studentų Street, the sale of the old infectious hospital on Birutės Street is planned,” says TS Kvainickas.

In Žvėrynas not only apartment buildings are being built, but also class A business centers. There are fewer in the southern part, but the Saltoniškių street cluster is an important part of the new Vilnius center.

In the secondary market, according to the real estate analyst, the price ranges for apartments from 1 to 3 rooms are quite wide, from 1800 to 3400 Eur / m2, but in this spectrum, only older or in the northern part. The prices of the exclusive apartments reach 5000 Eur / m2. or even more.

“Prices for individual residential houses in Žvėrynas are also especially high. For buyers, these homes are attractive not only as a home, but also as an opportunity to convert the object into a larger building ”, says the interlocutor.

Few projects and plots

On the one hand, Žvėrynas is an attractive neighborhood for real estate developers due to the advantages listed above and, of course, the opportunity to develop exceptional and expensive real estate projects here. However, developers wishing to enter this neighborhood face several obstacles: the particularly active resistance of the local population to the new construction and the lack of suitable plots for real estate development. As the president of the LNTPA, M. Statulevičius, explains, there is a lack of plots in Žvėrynas for several reasons.

“First of all, in Žvėrynas there is an area of ​​low permissible intensity, low permissible elevation, intensity, because the old detailed district plan approved for this district is still valid today, it seems that in 1996, every change in the plot is difficult, because that detailed plan needs to be adjusted, and it is really difficult to change the purpose there, etc. ”, says M. Statulevičius.
The real estate expert goes on to say that most of the real estate projects planned in Žvėrynas are aimed at buyers from the prestigious housing segment. On the other hand, according to M. Statulevičius, in this district you can find several old wooden houses, which are protected by cultural heritage. Some of them, according to the interlocutor, are restored, while others are inhabited by lower-income residents.

“Part of the property belongs to the municipality, part – to lower-income people who don’t want to move and take and order the house, it’s very difficult. Here, too, the city wants to get involved so that a real change in the management of wooden architecture can begin. Anyway, the district is not dense, it is quite clean, quiet, safe, loved by young families who like to walk and play sports, after all, there is Vingis Park nearby. There are good departures from Žvėrynas, with easy access to the city center, Narbuto Street. The connections are great. Clearly, perhaps there are fewer jobs here in a cross-functional sense. It is a more residential area, more vibrant at night, on weekends, on weekdays. But you can feel comfortable, “says M. Statulevičius.

TS Kvainickas also talks about old wooden houses. According to him, the inhabitants of Žvėrynas are as “motley” as the real estate in the area. More older residents reside in the old buildings, which have not yet been rebuilt. New construction is especially expensive, making it affordable only for higher-income Vilnius residents. The intense but constant development means that there is always an opportunity in the area to regenerate the age of the population.