Almost half of Vilnius residents can buy housing for approximately 151 thousand. EUR – MadeinVilnius.lt

A survey of the capital’s residents initiated by Darnu Group, one of the country’s largest real estate development companies, revealed that the allocated and planned budgets for the purchase of housing have grown significantly over the past few years. A total of 42 percent surveyed Vilnius residents have purchased or are planning to purchase housing worth 151 thousand. and more euros, and for luxurious ones, from 351 thousand. 5 percent are looking at homes costing EUR. study participants. A significant part of the population also states that their needs for housing area, location, price and year of construction have changed.

In February, “Spinter research” surveyed 513 residents of Vilnius aged 25-60 who bought a house in the capital in the last year or are planning to buy it in the next 3 years. There were 27 percent of the first, and 73 percent of those planning to buy.

The research revealed that the largest part of the respondents (36%) purchased or planned to purchase 101-150 thousand. Housing worth EUR, 28 percent. – 151-250 thousand EUR, 20 percent. – up to 100 thousand EUR, 9 percent. – 251-300 thousand EUR, 5 percent. – more than 351 thousand Eur, and the rest did not specify the amount.

For comparison, in a similar study in 2022, 21 percent respondents chose housing up to 90 thousand. Eur, between 91-110 thousand. EUR – 19 percent. respondents, 111-140 thousand. EUR and 141-200 thousand. Eur. in value categories – 20 percent each. Vilnius residents. A larger amount than 201 thousand. 14 percent were inclined to spend EUR. study participants. Even earlier – in 2020 – 87 percent. respondents looked at cheaper than 140 thousand. Homes worth EUR.

“Budgets are growing for objective reasons – the improving financial capabilities of the population and the rapid rise in prices related to the cost of construction, inflation that took place until last year, and the relatively small housing stock in the capital. Despite the fact that housing affordability challenges are faced today, a significant part of buyers have adapted to today’s situation and are ready to spend more funds looking for housing that fully meets higher criteria”, says Mykolas Čiplys, head of sales and rental at Darnu Group.

The research revealed that a larger number of respondents changed their expectations over the past year and started looking at housing with a larger area, newer years of construction and located closer to the center. 24 percent bought or plan to buy a house with a larger area than previously planned, 22 percent prefer a smaller one. respondents. Meanwhile, 16 percent started looking at objects located closer to the central part. respondents, and 11 percent to distant ones.

When assessing the year of housing construction, almost a quarter stated that they were considering both old and new construction housing. Another 32 percent interested only in newly built housing, and 30 percent considers only objects of old construction. The analysis of buyers’ expectations revealed that over the past year, 9 percent of the respondents started to look at houses of newer construction than they planned before, while 3 percent of the respondents turned to older ones.

According to the representative of “Darnu Group”, these data indicate that the mood of customers is not deteriorating – they are simply taking their time to make decisions, personal financial perspectives, personal or family goals and plans in both long-term and short-term perspectives are more carefully evaluated.

The remaining third of the respondents stated that their needs for purchased or planned to purchase housing did not change during the past year.

According to the data of the research conducted by “Darnu Group”, the absolute majority of the research participants – 83 percent. – searched or are still searching for housing on their own, 16 percent. use the services of real estate brokers, and the same proportion – turn to the real estate development company. The reputation of the latter is important in the housing selection process – 70 percent. stated that it is important to them which real estate company develops the object of interest to them.