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The Viršuliškės construction project was prepared in 1973. Viršuliškės is a part of Vilnius, located northwest of the city center. It borders Karoliniškės in the south, Justiniškės in the northwest, Pašilaičiai in the north, Šeškine in the east. In the west, Vilnius’s western ring road separates it from Pilaitė and Buivydiškės.
Developers see the potential
Tomas Sovijus Kvainickas, Head of Investments and Analysis at Inreal Group, says that Viršuliškės is one of the smallest districts in Vilnius in terms of area (Žvėrynas is also a similar area). On the other hand, in terms of population density, Viršuliškės ranks second after Justiniškės, Karoliniškės, Žirmūnai and Šeškinė. It stands out that this is one of the newest neighborhoods in the capital, where the boom in the construction of apartment blocks occurred in 1976-1977.
“Since then, the development of apartment buildings has been uneven every 2 to 5 years. Given the main construction period, the district is dominated by apartment buildings made of reinforced concrete structures. Towards the end of the last millennium, houses of brick masonry, and block masonry and reinforced concrete have dominated since 2000. As in all projects of the 1970s, Viršulišk, s mainly built 5, 9 and 12-storey apartment buildings. It is true that a little over 10 years ago, a couple of 23-story houses were built, ”says the real estate analyst.
T. Kvainickas goes on to say that 5- to 11-story buildings (mostly six) are currently under construction here. According to the interlocutor, a large part of the apartment buildings and business centers in Viršuliškės was developed by the YIT group of companies, starting with the Viršuliškių partner project and ending with the Duetto and Grand Office business centers, but it is not the only real estate developer working here.
“Currently, at least some real estate developers operate here, offering new homes in the” Viršuliškių stogai “,” Horizon “,” Western32 “projects. Although the” Paukščių takas “project goes beyond the leadership of Viršuliškės, due to its proximity to the sports infrastructure of Viršuliškės, it could also be informally assigned to this district “, emphasizes T. Kvainickas.
According to the real estate analyst, the prices in these projects are quite similar, almost everywhere they reach 1800 Eur / m2 (with partial finishing). The average price of old building apartments (until 1990) is around 1300 Eur / m2, but often apartments can be bought even 100-200 Eur / m2 cheaper. Prices for apartments built in later years range from 1600-2000 Eur / m2.
“Due to the small area of the district and the already existing urbanization, the part of Viršuliškės to the west of the Press Palace is probably the only territory where further development of the district’s real estate is possible. In terms of transportation, Viršuliškės is one of the best neighborhoods, since it even borders 3 street arteries: the western bypass, T. Narbuto street and Laisvės avenue ”, emphasizes the real estate analyst.
Although the construction of multiple apartment buildings in Viršuliškės, according to T. Kvainickas, is dominant in terms of the intended use of the property, in the last 20 years more housing has been built in the non-residential district: SEB entertainment arenas were built, Sportima and Vilnius along Ąžuolyno street. The Moonplay leisure and entertainment center has been opened instead of the shopping center of the Prisma chain, which has been operating in Lithuania for a short time. The largest shopping center in Viršuliškės is PC Mada, which has been in operation for several decades. Most of the business centers are located on Pilaitės Ave. “
There are still empty areas for construction
According to Mindaugas Statulevičius, president of the Lithuanian Real Estate Development Association, the development of new residential and commercial facilities in Viršuliškės shows that business organizations believe in this district. According to him, Viršuliškės has indisputable advantages, which can make it attractive to settlers.
“The area is quite green, there are parks, very close to the Vingis Park. Of course, its great advantage is good communication, because it is easy to leave the city and in the direction of Ukmergė and Kaunas, of course, there may be problems due to congestion, but we see that companies are looking for different solutions to reduce them, for example, start working at different times of the day. etc. ”Says the interlocutor.
According to M. Statulevičius, real estate developers have high hopes for the new general plan of the city of Vilnius, which envisages providing an opportunity to intensify districts such as Justiniškės, Karoliniškės, Fabijoniškės, Viršuliškės by paying the city a new infrastructure fee, improving the existing environment.
“The developers are waiting for the approval of this master plan. And some of the plots that have been forgotten, not developed in older areas, will be excited,” says the interlocutor.
Along with new residential projects and jobs, young residents and young families are moving to Viršuliškės. According to M. Statulevičius, a certain generation has already grown up in Viršuliškės, because it is a district that began its development more actively after independence.
“A certain generation has already protected and left the district, and the buyers of new projects are those who have already liked the Viršuliškės, do not want to move out of them and are looking for newer and more spacious homes. These are new buyers focused on those buyers. Of course, the typical population is probably older, but new jobs are being created there, so I think it will attract the younger ones, the vitality will be maintained, more Viršuliškės has a good infrastructure for nursing, healthcare, schools, kindergartens, that is, these areas. advantages that none of them will take away ”, says the head of LNTPA.
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