YIT Lietuva has recorded another active quarter in the housing market, but is monitoring signs of market stabilization
In Kaunas, on the right bank of the river Neris, a modern housing estate Piliamiestis continues to develop. On the other side of the Old Town of the Provisional Capital, the sustainable urban development and construction company “YIT Lietuva” is launching the 11th stage of the development of Piliamiestis, during which a modern 6-storey residential house with 23 flats and commercial premises will be built.
In a house named after Merkys, in the area of more than 1900 sq. m, flats with an area from 64.5 to 97.3 sq. m will be equipped, as well as exceptionally spacious penthouses with an area of more than 165 sq. m on the top floor, with a view of the Neris and Kaunas Old Town. For commercial premises, overlooking the river, almost 400 sq. m area is planned. Buyers will be offered commercial premises with an area from 50 to 80 sq. m, with the possibility of connecting them.
There is still a high demand for quality housing in the central parts of the city in Kaunas, which was not reduced even by the pandemic. Therefore, the rapidly reviving right bank of the Neris, due to its convenient central location and natural shelter, remains extremely attractive to the residents and has already become one of the most desirable places to settle in Kaunas. At the same time, the development of this housing estate has returned the long-forgotten territories to the city and turned them into an important part of the urban landscape of the provisional capital,” says Kęstutis Vanagas, general manager of “YIT Lietuva”.
According to K. Vanagas, it is noticeable that residents, looking for a home in Piliamiestis, prioritize more spacious homes with a view of the Neris and Kaunas Old Town. In addition, it is often desirable to have two bathrooms and pre-built fitted wardrobes.
The homes of Merkys (the new house under construction) will be equipped with central collector underfloor heating with individual accounting, as well as an efficient individual recuperation system. The energy efficiency class of the building will be A +. An underground car park with the possibility to install electric car charging stations has been designed under the house. Parking spaces will be provided near the house as well.
The block of flats designed by architect Tomas Kriaučiūnas will be equipped with a panoramic elevator for the convenience of the residents and the joy of their eyes. The facade of the house will be ventilated and covered with large-format facade panels ensuring an attractive aesthetic appearance. All flats will have large wooden windows. Residents of the top floor will also be able to enjoy the sense of space provided by the higher ceilings.
The new house, like other buildings in Piliamiestis, will be surrounded by green recreation areas with benches for relaxation and playgrounds for children. During the implementation of this stage of the project, a pine alley for recreation and walks of the residents will also be formed. Residents will also find the bank of the river Neris, renovated by developing the housing estate, with pedestrian and bicycle paths and a review amphitheatre, with a view of Kaunas Castle and the Old Town.
The newest house of Piliamiestis, the construction of which will start soon, is planned to be completed by the summer of 2022. In this part of the plot, “YIT Lietuva” plans to build two more similar blocks of flats. A total of 20 buildings should be erected on the right bank of the river Neris in Kaunas by 2028.
“YIT Lietuva” is also currently implementing the urban project “Naujasis Skansenas” (the new Skansen) in Šnipiškės, the reviving district of the capital, and is developing the house “Matau Vilnių” (I can see Vilnius) near Tauras Hill. The company also implements projects of infrastructure development, industrial and logistics premises throughout Lithuania.