Not only did the beach shine in the Lithuanian property market: there are almost no vacant apartments in this complex and prices are rising like yeast.

“The emerging need for second homes has reactivated the real estate market in the regions. Since last year, farms in picturesque areas have been bought more actively, real estate investments have been made in Lithuanian resort towns,” says Ričardas Klincaras, Ober-Haus real estate expert in a press release.

First, transaction records began to beat the coastal region. At that time, small resort towns, such as Birštonas and Druskininkai, had been of interest to a smaller number of investors and buyers for some time. “However, the further away, the more visible is the activation of the real estate market in these tourist cities, especially in Druskininkai. And in the spring in Druskininkai we met with a lot of energy”, says R. Klincaras.

March of this year was exceptional for the resort. According to data from the Center for State Business Records, in March this year 36 transactions for the purchase and sale of apartments and 7 houses were recorded in Druskininkai. When at that time in February 2021 12 apartments and 2 houses were sold. According to the expert, the housing market in Druskininkai continues to increase in turn: the activity of buyers will not decrease in April.

According to the Center for State Business Records, in the first quarter of 2021, 11% of more apartments and houses than during the same period of 2020.

According to Ober-Haus calculations, during the year (March 2021, compared to March 2020), apartment prices in Druskininkai grew by 2.4 percent. In March alone (March 2021, compared to February 2021), apartment prices increased by 0.8 percent. At the same time, last year, the quarantine not only slowed the growth of apartment sales prices, but also registered negative changes: a year ago, in March, it was -0.2 percent. price discount.

“The city receives large investments every year: new attractions are being built, a sports center has recently been opened, a Cultural Center is being built and new investments are being made in the K. Dineika Park. more and more buyers see real estate in Druskininkai not only as a resting place, but also as a good investment, the prices of which tend to rise in the future ”, says R. Klincaras.

Most of the apartments for sale are located in the central part of Druskininkai. “A typical buyer of this type of home is a resident of Vilnius, Kaunas, Marijampolė, Alytus, aged 45 to 60, who buys a home with his own funds or with a small amount of borrowed money. Druskininkai residents are more active in sleeping areas, who generally buy houses with a loan, ”says R. Klincaras.

“We also communicate with residents of foreign countries who know Druskininkai from health centers and, after resting here, are considering their own vacation residence. Although their activity is not as high as it was 6-8 years ago, we are also interested in attracting some of them ”, says R. Klincaras.

In the primary market projects located in Druskininkai, currently 35-45 square meters M. m shortage of quality housing supply – there are almost no such vacant apartments. According to the expert, these changes have not gone unnoticed by potential investors who respond to the changing market situation and intensively absorb not only vacant land suitable for apartment construction, but also acquire unfinished homes or reconstructed buildings for development of new apartment buildings.

Houses and cottages are inferior to apartments in terms of the number of transactions, but their popularity and demand are growing significantly, but unfortunately there is still a lack of supply. “These homes are chosen by families from metropolitan areas who can work remotely and intend to spend half a week here or move to Druskininkai permanently,” says R. Klincaras. The new central part of the city (Baltašiškė) is the most popular among these buyers, with a well-developed infrastructure and convenient transportation.