{"id":14215,"date":"2012-11-08T00:00:00","date_gmt":"2012-11-07T22:00:00","guid":{"rendered":"https:\/\/www.invaldainvl.com\/group-company-press-releases\/inreal-recovery-signs-in-coastal-real-estate-market-increasing-sales-of-real-estate\/"},"modified":"2012-11-08T00:00:00","modified_gmt":"2012-11-07T22:00:00","slug":"inreal-recovery-signs-in-coastal-real-estate-market-increasing-sales-of-real-estate","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/inreal-recovery-signs-in-coastal-real-estate-market-increasing-sales-of-real-estate\/","title":{"rendered":"Inreal: Recovery signs in coastal real estate market \u2013 increasing sales of real estate"},"content":{"rendered":"\n

Western Lithuania and coastal real estate (hereinafter – RE) market shows recovery signs. According to Inreal analysts\u2019 data, 120 new construction apartments have been sold in Klaipeda, Palanga and Neringa regions within the third quarter of 2012, and this is 2.3 times more than within the same period in 2011. Even four times more new construction apartments have been sold in Klaipeda city than in the third quarter of 2011. The increase in new construction apartment purchase-sales transactions is being noticed in Palanga and Neringa. According to Raidla Lejins & Norcous lawyers, sales could grow even faster if more liberal laws, facilitating entry opportunities for foreigners to Lithuania (EU), are adopted in Lithuania.<\/p>\n

\u201cIn comparison with the third quarter of the previous year, new real estate sales increased by 47 percent in Palanga, and even by 9 times in Neringa\u201d, – stated Agnius Tamosaitis, the Head of RE management department at JSC Inreal valdymas. According to him, the supply is also growing \u2013 development or renovation of eight real estate projects in Palanga and Neringa has been started.<\/p>\n

According to A. Tamosaitis, there are more changes in coastal RE market observed. For example, more and more Klaipeda residents buy property in Palanga and move to live there. However, according to the number of first home transactions, Klaipeda is still significantly ahead of Palanga and Neringa, where the majority of real estate property is bought as second homes.<\/p>\n

According to Ausra Mudenaite, the Partner of the Law Firm Raidla Lejins & Norcous, real estate sale in coastal region could be also promoted by liberalisation of resident permits and visa procedures for the nationals of Belarus, Russia, Ukraine and other third countries.<\/p>\n

\u201cResidents of Belarus, Russia and Ukraine, interested in resorts of Lithuania, face the problem, that even if they have apartments or villas in Lithuania, they must additionally provide Lithuanian Migration Department with evidence that a Lithuanian person or organization will provide them with other accommodation during visa or temporary residence permit validity period. So, if these requirements are mitigated, as it was made in neighbouring Latvia, the nationals of mentioned countries would have an additional reason to buy real estate in Lithuanian coast more actively\u201d, – stated the Lawyer Ausra Mudenaite, the Partner of Raidla Lejins & Norcous.<\/p>\n

According to A. Tamosaitis, investments in new projects, being developed by Inreal valdymas in coastal region, will reach 31 million Litas. The company develops the complex of twenty apartments and four commercial premises Danes uzutekis (Danes Bay) in Klaipeda Old Town, and the project Kopu vetrunges, which will consist of forty new apartments.<\/p>\n

\u201cBoth new projects are being developed in the same coastal region and implements the strategic idea of Inreal valdymas \u2013 \u201cexclusive project in special places\u201d, however both project are being developed in respect of differences among real estate purchasers in Klaipeda and Curonian Spit\u201d, \u2013 said A. Tamosaitis.<\/p>\n

The project Danes uzutekis is being developed in Klaipeda Old Town, on the riverside of Dane, near Jono kalnelis (John\u2019s Hill), and Klaipeda city defence wall. According to A. Tamosaitis, these apartments are focused on active residents of Klaipeda, willing to live in the Old Town, having an easy access to business centres, leisure, culture and entertainment places, and beaches. Different layout apartments of 30 and more square metres with terraces and balconies are being fitted in Danes uzutekis.<\/p>\n

Kopu vetrunges \u2013 apartments in Curonian Spit \u2013 are being built in the northern part of Nida, on the last land plot of Purvynes street, neighbouring with dunes. The area of apartments in Kopu vetrunges \u2013 from 24 sq. m., there are balconies, terraces or yards. <\/p>\n

Target final date of both projects \u2013 II quarter of 2013. <\/p>\n

Projects, layouts of flats, apartments and premises are available on the websites: www.danesuzutekis.lt<\/a> and www.kopuvetrunges.lt<\/a> or by visiting Inreal valdymas offices in Vilnius, Kaunas or Klaipeda.<\/p>\n

Since the start of its activities in 1994 Inreal valdymas has implemented 50 different real estate projects. The company operates about 100 real estate objects with a total area of nearly 180 thousand sq. m. in Lithuania. The value of Inreal valdymas operated property is more than 400 million Litas.<\/p>\n

More information:<\/p>\n

Ruta Mercaitiene
INREAL GROUP
Marketing and Communications Manager
Mob. +370 611 29779
ruta.mercaitiene@inreal.lt<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Western Lithuania and coastal real estate (hereinafter – RE) market shows recovery signs. 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