YIT Lietuva has recorded another active quarter in the housing market, but is monitoring signs of market stabilization
Even though there is a never-ceasing talk about Kaunas facing a renaissance of some sort, signs of revival, especially in the real estate market, are getting more and more visible in Klaipėda as well. Sustainable real estate development and construction company “YIT Kausta” is also coming back to this city after almost a decade of absence. It has commenced construction of a new residential apartment building in the centre of Klaipėda, in Bijūnai Street. The company had previously successfully implemented projects “Minijos banga”, “Jurginai” and “Bijūnai” in the centre of the port city.
The completion of construction of a new modern four-storey apartment building with an underground parking area is scheduled in the summer of 2019 – preparation works of construction of underground parking area are already under way. After the construction is completed, the residents of Klaipėda city will have a chance to settle in 52 new apartments, the area of which will be ranging from 30 sq. m. to 75 sq. m.
The new apartment building will emerge right next to Klaipėda Old Town and Smiltynė Ferry Terminal; the distance between them and the future building is barely several minutes on foot. There is also a well-developed public transport and services infrastructure, and the neighbourhood of other new apartment buildings.
“Klaipėda is strategically important Lithuanian city. Recently, the tendencies of industrial and service sector development have been observed here. Unfortunately, the port city still lacks modern and strategically situated apartments as have been actively built in Vilnius and Kaunas for several years now. We have been observing positive indications for implementation of projects for residential buildings with long-term value in Klaipėda for quite some time, especially in the attractive areas of the city. We guarantee our clients high quality of the works and effectively operating warranty service, we restore the environment around the buildings, and we help in setting up a community so that the residents would be able to solve mundane issues in a close and friendly community” – says Kęstutis Vanagas, the general manager of “YIT Kausta”.
According to K. Vanagas, main criteria for choosing home of the residents of Klaipėda are similar to those of the residents of other larger cities – they are looking for modern and strategically situated home. The most in-demand homes here are medium-sized apartments having high quality finishing.
The new apartment building in Bijūnai Street is intended to have a children’s playground, green spaces and footpaths laid around. Street lights are also to be installed in the territory.