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The Lithuanian real estate market (RE) recovered without major difficulties after the first wave of coronavirus. The increase in the number of home purchase and sale transactions recorded in the third quarter almost offset the losses in the second quarter, according to the Ober-Haus survey. The real estate development projects do not stop, among them, the project developed by the company Larėjas, called “Užupis Pearl” – “Vilnius Montmartre”.
The pandemic did not adjust home purchase plans
Groupinvest, a development and promotion company for real estate investment projects, has started operations with the Vilnius Monmartras project after acquiring the shares of UAB Larėjas. The project was accelerated thanks to funding received from Vytautas Magnus Credit Union and Central Credit Union of Lithuania, and apartments on the market today are already being hoarded by new residents.
Edvard Račevskij, director of real estate developer Groupinvest, notes that most of those who considered buying a home before the first quarantine did not change their plans. “Of course, some of those who thought and planned to buy a home, although they did not completely abandon these plans, but postponed it to a later date due to the prevailing uncertainty.”
E. Račevskij does not hide that although the pandemic affected the population’s home buying trends, according to data from the Center for State Companies Registries, the number of real estate transactions also broke in October, the highest in recent years : Nor would it be worth ruling out that possibility. However, we see a trend for the pandemic to have the least impact on luxury home purchases, and we classify the “Vilnius Montmartre” home in the luxury segment. “
In Vilnius, a crystal from France
“Vilnius Montmartre”: two buildings, 46 apartments, which together total 2100 m2 M. meter. Living Space, a project for lovers of modern classics. This project pays special attention to details reminiscent of French: curved wrought-metal balconies, Montmartre-themed staircases, Parisian landscaping with exceptional lighting and climbing plants, a fountain in the middle of the courtyard, and flower-filled balconies as gifts for children. owners.
The place chosen for the development of the project is Užupis in the capital, famous for its bohemian and exceptional pace of life. “When designing Vilnius Montmartre, we wanted to make an impression. Like Montmartre, Užupis is famous for its bohemian atmosphere, which has long been loved by free and brilliant personalities and creators.
We wanted the inhabitants of these houses to be surrounded and inspired by the festive and creative spirit of Užupis on a daily basis, to make it the most ‘closed’ place in Užupis, “says E. Račevskij, Groupinvest Director.
