The Kaunas housing market is recovering: the first phase of “Nemunaičiai” is sold out, the second phase already has a quarter of reservations | Business

The changes are due to more favorable conditions for purchasing housing

“Recently, we have been observing extremely intensified demand in the primary housing market of Kaunas. This is due to both the growing population and the fact that the base interest rates have been reduced for the third time this year. Residents are actively looking for new, modern homes for living and investment. The activity of the market is evidenced not only by the demand for already built, ready-to-live-in housing, but also by the reservations of newly started construction projects, – says Andrius Mikalauskas, head of SBA Urban.

Photo by A Aleksandravičius/Kaunas panorama

According to him, Kaunas uses its strengths purposefully, attracting both growing businesses and residents. This includes the high quality of services, the ever-improving communication in the city and the speed of decisions. The future perspective is also important – the city needs urban development of the central districts, which would cover all segments of real estate and offer the market viable mixed-purpose – residential and commercial – spaces. The most necessary services would be concentrated in them, and life and work would be close to each other.

“SBA Urban” photo/”SBA Urban” manager Andrius Mikalauskas

Sold out projects and active bookings

Demand in the housing market is also catalyzed by the supply of quality new housing. In Kaunas, on the left bank of the Nemunas, near the newly built bridge, the second phase of the project “Pasaka” has started in Nemunaičiai. October 3 after starting reservations and starting construction from 95 units. already signed reservation contracts 25 percent. would be By mid-October, 100 percent. the 1st phase of the “Nemunaičiai” project – 146 apartments – was also sold out.

“Residents looking for a new home pay a lot of attention not only to the architecture, but also to the infrastructure nearby. In Kaunas, there are no newly created districts of such a scale as “Nemunaičiai” near the center. Therefore, we feel a great demand – every fourth apartment in the new “Pasakas” project has been reserved in three weeks. One of the most important arguments we hear from those reserving housing is the prospect of growing to a 6-hectare mixed-use district, which becomes the new center of Kaunas, especially after the connection between the left quay of Nemunas and Nemunas Island,” says Viktorija Pozingytė, sales manager of Nemunaičių.

She observes that after holding off on decisions for some time, the residents were waiting for new and promising residential projects, which are full of options for apartments of various sizes, layouts and prices. As new supply becomes available, they make a bolder decision to invest in real estate or improve their existing living conditions by moving closer to the city center.

“SBA Urban” visualization/Nemunaičiai. Stage 2

“When the market is filled with new and modern housing, they become attractive not only to Kaunas, but also to those who have long been looking for a reason to return only to Kaunas and to Lithuania. Some settlers will return to Kaunas and “Nemunaičius” after 10 years abroad, and here is their neighbor – a Lithuanian living across the Atlantic, who wants to have a comfortable permanent home in Lithuania. Attractive real estate helps to bring even foreign Lithuanians back to the country. I am also happy that the people of Vilnius are choosing new houses both for living and for investment in the district we are creating,” says V. Pozingytė.

“SBA Urban” photo/Sales manager of “Nemunaičių” Viktorija Pozingytė

Currently, the most popular and most actively booked are larger, 2-3 room, 70-80 sq.m. m. apartments with a view of the Nemunas, both smaller, two-room, up to 40 sq.m. m. apartments and to the courtyard and the green slopes of Alexot.

The works of the second stage in the “Nemunaičiai” district are gaining momentum. Preparatory construction works for the residential house “Pasaka” have already been completed and the installation of piles will begin this week. It is planned that the settlers of the project will be able to move into the new houses in 2026. in the spring The construction of the “Hermanas” business center has also progressed, the first floor columns and monolithic walls are being concreted, preparations are also being made for the installation of ceilings on the 1st floor. The opening of the business center is planned for 2025. fourth quarter.