[ad_1]
According to Tomas Sovijus Kvainickas, head of investment and analysis at real estate services company Inreal, the Vilnius property market returned to the situation a decade ago during the quarantine, and the activity of Palanga and Neringa was even better than before.
“In the second quarter, when there was quarantine, there was a clear drop in the cities. These results have been seen in Vilnius for a long time, perhaps in 2008-2009. In Palanga, Neringa, meanwhile, the numbers were better than in any previous period. Of course, it was not the case that not 500 apartments were bought in Vilnius, but 500 apartments were bought on the coast, but comparing the coast separately from other cities, the activity was higher there, ”said BNS.
Photo by Inreal / Tomas Sovijus Kvainickas
According to the analyst, the activity of the coastal market increased with the quarantine, because people with economic opportunities to buy decided that they could rest in Lithuania. In Neringa, in addition, new objects were proposed.
Aurimas Petrikas, head of the Klaipėda region of the Ober-Haus real estate company, told BNS that this year also saw increased activity in the seaside rental market.
“If we felt more traffic on weekends in June, then in July and August the calendar was no longer affected: everything was rented for both weekdays and weekends. So the owners don’t really complain about the summer income. The pandemic restrictions on travel to foreign resorts had a particularly strong impact, making the coast a destination for tourists, ”he told BNS.
Despite the increased demand, rental prices on the coast remained stable, Petrik said. For example, standard two-bedroom apartments in Palanga and Šventoji cost between 30 and 35 euros per night during the low season, after the quarantine and at the beginning of the summer, their price almost doubled to 50-60 euros.
“Knowing the more diverse contingent of tourists, smaller hotels and guesthouses did not raise prices last year, but it did not reduce them. The price ranges remained at the same level, so it can be considered that the quarantine did not it was affected, ”he said.
Personal bow. photo / Aurimas Petrikas
No further investment is expected
Neither Inreal nor Ober-Haus experts predict that this year’s activity in spas will increase investment in development.
“It is not worth waiting for a very large new offer in the Palanga region: there is a large enough warehouse of unsold apartments for buyers to choose from and there are empty niches where new projects must be offered. The situation is a little different in Neringa: Due to various restrictions, it is not possible to offer many projects. At the same time, limited development and sales are related to what is offered in the market at that time, “he said.
According to A. Petrikas, although new projects are planned in Palanga and Šventoji, no larger investments are expected than before.
“One or another new object and room will definitely appear in Palanga and Šventoji, but it is not a mass phenomenon, so we can speak boldly about intensive changes in the market. Even new players entering the market will not distort the general trend as their housing offering will target higher-income clients, which automatically means the property will be purchased not for short-term rental, but for personal family recreation by the sea, “he said.
[ad_2]
