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It is true that the quarantine period has fundamentally changed the proportion of transactions between different housing segments. In the third quarter of 2020, transactions of 58 apartments and 49 individual houses were made in the Utena district, and in the second quarter only 20 apartments and even 53 houses were sold, according to the company’s blog.
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 those for whom that way of life is really acceptable, and not only those who want to escape the isolation of apartments, “says the real estate broker.
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 the new, compact constructions: 80-130 m2 M. m detached houses with partial completion, which cost about 100,000 euros. Previously, there was only one of them in the offer, but now the offer has grown 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. “At the drawing stage, I only get one more call, and when the roof of the house is covered, their number increases in a geometric progression,” 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 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.
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