Vacation Home: Luxury or Necessity? How COVID-19 Pandemic is Affecting People’s Attitudes

For some time, a vacation residence in a coastal or lakeside location were often regarded as a luxury by many Lithuanians. However, it seems that this opinion abruptly changed when the COVID-19 pandemic hit and travel restrictions were enforced. Seventeen percent of the residents who are planning to buy a new home or to move to a new one, consider purchasing a second/vacation home in a coastal resort tow...

Julius Dovidonis, CEO of Real Estate Company Realco: Pandemic is not Deterring People from Buying New Homes

While COVID-19 has left a mark on the country’s housing market, it was not as lasting as was expected in the early stages of the pandemic. After a period of slowed activity during spring months, housing demand has picked up in autumn. Interestingly, for more than one quarter (26%) of potential buyers, the pandemic and the changes it has brought upon society were the main motivating factors that encourage...

The Revival of Markučiai Gains Momentum as New Realco’s Project Prie Vilnelės is launched

One of the largest real estate developers in Lithuania, Realco, is launching the sales of new apartments in the residential complex Prie Vilnelės being developed in Markučiai. The project represents an investment totalling €15.5 million and offers more than 200 apartments to new occupants. The residential complex Prie Vilnelės accommodates 220 apartments and comprises 2- to 7-storey buildings. The nu...

On the challenges of the pandemic and the Company’s future plans

“The lockdown affected us like all other businesses: house hunting and apartment sales ground nearly to a halt. Before the lockdown, we accepted pre-orders for an average of 30 to 35 apartments per month compared to just 2 or 3 apartments in March and April. We should assess this situation with reason as it was only natural that people started to prioritize their health over housing, clothing or domestic...