Pandemic real estate market: in three months these houses were sold in Vilnius almost as much as in the whole of last year

“In recent years, Vilnius property developers have sold between 450 and 700 country houses a year, and in the first four months of this year alone almost 300 newly built houses have been sold in the capital. Current trends suggest that new construction home sales will set new records this year, on the other hand, which may be hampered by emerging supply shortages. The number of new unsold cabins is constantly decreasing and is currently just over 300, when two years ago buyers could choose between 600-650 cabins in different parts of the capital and on various projects, ”said Arnold, real estate analyst. Estate and Managing Director of Realdata Antanavičius.

A. Antanavičius points out that a country house is like an intermediate variant between an apartment and a house, which has the characteristics of both types of housing. The main factors that determine the popularity of the cabins are a larger living space and a lower price per square meter. Generally, the cabins are between 80 and 120 square meters. subway. area and its price, depending on the location, decoration, various technical solutions, in Vilnius it can reach 100,000-160,000 euros. Meanwhile, for a similar amount, it is possible to buy a newly built 2-room apartment (40-55 m2) in districts near the center of Vilnius or 3-4-room (60-80 m2) in sleeping areas. In addition, the price of the cabins often includes one or two parking spaces, residents have a separate entrance and a private patio.

The lower cost of the cabins is due to the lower costs incurred by the developers: simpler design, no common areas or stairs, shorter construction time. Compared to individual house settlements, country house projects are closer to the city center.

Real estate development company Rinvest notes that young and middle-aged people with families are primarily interested in farmhouse projects, and during the pandemic, farmhouse sales became much more active.

“We received the most project inquiries and completed transactions in 2020. In September-December, the decision to buy a larger home with its own patio was likely motivated by the ongoing quarantine and most of the time past. in the home space ”, says Inga Račevska, CEO of the company.

According to I. Račevska, the growing popularity of country houses is determined by the desire for more housing, an attractive price, the possibility of planning and separating home spaces more flexibly on several floors, and creating a recreation area in a fenced yard. When buying a country house at an early stage of construction, individual housing planning decisions can be implemented.

“We built the first cottage projects in Vilnius in 2013. – then this type of house was chosen as an alternative by those who want to live more spacious, a little further away from the noise of the city, to have more privacy. Today, these criteria have become very relevant, and together with them I would highlight the desire to adapt the home to the maximum according to my lifestyle, to live more comfortably, to have an exclusive and interesting home. By the way, cabins abroad are popular not only with families raising children, but also with older people, older people who want more peace, like to cultivate their garden environment, and take care of various garden work . Perhaps this trend will be accentuated in our country in the near future ”, says the head of the company.

Real estate analyst A. Antanavičius observes that in recent years there has been an increase in the number of large developers in the country house segment who are undertaking the development of country house housing and often doing so much closer to the city ​​center.

“Such development raises a poster of the quality of the cabins, because not only is housing built, but also many investments are made in the environment, recreational areas are created and recreation is invested in the protection of the territory, etc. . on. Often, on a larger plot, developers decide to build a mixed housing project in several stages, in which both apartment buildings and several rows of cottages are located. These projects are very well received in the market: buyers have the opportunity to evaluate the advantages and disadvantages of each type of house, compare prices and make the decision that best suits their current needs ”, says A. Antanavičius.