Last year there were sold more flats than it was built

According to the MG Valda analysis of Vilnius housing sales in 2011, last year there were sold more flats than it was built. The company evaluation shows us that in recent years, the accumulated fund of new dwellings – soluble.

Last year the market has offered more than 800 newly built apartments and sold about 1000. There are about 1500 unsold flats in our capital today.

Almost half of all apartments sold in 2011 were two-bedrooms. In the first part of last year the two-bedroom apartments were sold twice more than in the same period in 2010. "Traditionally, two-bedroom apartments – the most popular (…). People that are interested in buying three-bedroom apartments usually prefer areas with at least 60 square meters “– said “MG Valda” sales manager Mantas Umbrasas.

According to Mantas Umbrasas, residents used to choose apartments carefully, considering their needs and quality of housing provided. Usually, they pay a lot of attention on a price of the accommodation. Price is still the main factor of purchase. "According to the statistics, the dynamics of living space per person in 2011 remained the same and amounted to 26 square meters and it is still twice less than the average in the European Union. Huge emigration should effect the rate of dynamics and the average living area per person had to increase, but there were no changes noticed. The reason why is the fact, that the most popular type of investment between emigrants that returned to their homeland, was real estate." – noticed Mantas Umbrasas.

In the past years, the economy class apartments were the most. In the real estate market, an economy class apartment takes 40% of all the apartments and it is 320 flats. Middle-class apartments have been sold several hundred less than the economic, despite the fact that the demand for middle-class apartments grew faster recently. In expert opinion, the bigger demand on the real estate property was due to the risen supply of high quality accommodation and the increase of people requirements for real estate property projects. Other part of the flats sold consist of flats in high and prestige class, 24% and 3% respectively.

"The real estate market showed the signs of recovery, last year. Current and next years are especteded to be stable for the property market (...)” - talks M. Umbrasas.