Realco, one of the largest real estate developers in Lithuania, has reported 229 apartment sales in the first half of 2019, a 36 percent increase compared to the same period in 2018 when the company sold 168 apartments.
“The rate of new apartment sales has been very intense this year. The Linkmenų Lakes has remained our most popular housing development with 105 apartments sold in our housing estate in Šnipiškės,” Realco’s CEO, Julius Dovidonis said.
Based on Realco’s estimates, housing sales in the micro-district of Šnipiškės accounted for about 18 percent of all apartment sales in Vilnius. Based on this figure, Šnipiškės has outperformed such popular districts as Naujamiestis and Pilaitė.
In 2018, Realco sold a total of 391 apartments in new residential developments in Vilnius. The company’s apartment sales numbered 438 in 2017.
Realco expects to invest 31 million euros in new housing development projects in 2019. The company is set to invest 25.2 million euros in Vilnius, and 5.8 million euros in Šventoji. In the latter location, the company is developing a coastal housing estate, the Gates of Šventoji, accommodating 90 apartments. Apartment sales in this development were launched in June this year.
The Gates of Šventoji is Realco’s first housing development to be implemented in the coastal area. Until now the company’s projects were concentrated in Vilnius. In 2018, this city saw the completion of Realco’s Ozas Park residential housing estate. Realco is currently implementing the third stage of the Linkmenų Lake housing development and developing the Panoramas of Žvėrynas housing estate in Vilnius.