According to Tarutis, Vilnius is becoming a city for its residents. Mixed, multifunctional spaces replace the formerly clearly separated residential and industrial areas. ‘When developing new projects in the capital, we primarily focus on human comfort – we want people to step outside and see not grey walls, but green spaces, storefronts, bustling florists or pastry chefs in their shops,’ he commented.
According to him, the needs of city dwellers are also changing – more and more people are returning to live in the city. The increasing population density is encouraging real estate developers to adopt unique solutions: areas around the centre of Vilnius, which were once dominated by industrial zones, are now transforming into neighbourhoods that can meet almost all urban residents’ needs. Tarutis notes that this return to the city is logical and beneficial for the capital.
Vilnius’s leaders know that the more concentrated the city’s population, the more efficiently distributed public infrastructure costs. It can be seen in the real estate market – historically, the most expensive housing has always been in the Old Town. However, the real estate market is moving in a different direction: new multifunctional districts are emerging, where property values have already surpassed even some areas of the Old Town. The city government is also encouraging the creation of such areas, with urban plans clearly outlining development directions that combine convenience for citizens, sustainability and economic logic.
Žirmūnai – both to live and to invest
Tarutis says that considering the whole map of Vilnius, Žirmūnai has the most potential:
As far as promising districts are concerned, Žirmūnai is number one on my favourites’ list. It is one of the largest and most dynamic districts in Vilnius, which is constantly renewing and offering more and more opportunities for residents and investors. Surprisingly, in Žirmūnai, one can still find areas with almost no inhabitants – former industrial zones that are already starting to change.
With industry removed from the city centre, Žirmūnai has the potential to redevelop derelict areas into residential, leisure and business spaces.
Publicly available data shows that property developers are preparing to implement several projects in these territories. Citus contributes to the regeneration of the former industrial zone with the project Kaip Niujorke by CITUS, which will inspire the New York spirit in Žirmūnai. The 3-building A+ energy class apartment complex, located on the territory of Kareivių Street, next to Ogmios City and Ozo Park, is distinguished by a large, functional courtyard in the shape of New York's Central Park, terraces overlooking the city skyline, and solutions tailored to the life of an urban dweller.
It is hoped that the conversions will make Žirmūnai, which is undergoing a major facelift, a living, active extension of the capital's city centre, and will contribute to the realisation of the vision of the ‘15-minute city’, where Vilnius will be designed for people, not for cars.
Tarutis adds that it is also worthwhile for those who are looking for a housing investment – Citus analysts calculate that conversion and reconstruction projects already launched or planned in big, 83 hectares plot of Žirmūnai could increase the value of new real estate in this territory by up to 49% over the next seven years.
Residents also see the district’s prospects. For example, the buyers of the complex of six residential houses and two office buildings in Mūnai by CITUS, which is also being built on Kareivių Street in a 2-ha area, were convinced by its attractive location, prospects for value growth, access to services, shopping and leisure centres, and an abundance of well-developed infrastructure.
In 2024, this is the district with the highest number of sales and the highest turnover in the city, with a sales-to-supply ratio around 50% above the city average. People have strong faith in this location, and its prospects – around 90% of buyers of Mūnai by CITUS apartments cite this as the main reason for their decision.
Unlocking the potential of Naujininkai
After the success stories of Pilaitė, Naujamiestis, Šnipiškės and Paupys, Vilnius City Municipality is planning a long-term conversion in the rapidly regenerating Naujininkai. The attractiveness of the district will be enhanced over the next ten years by the planned renovation of streets and squares, the development of leisure and recreation infrastructure and the airport. Added to this is the vast Vilnius Connect railway station conversion project, which could transform Vilnius into a business and financial hub for the entire Baltic region.
Tarutis explains that, with the right strategy, Vilnius Connect in Naujininkai could repeat the success story of Šnipiškės, where Vilnius City Municipality was relocated to this district, which had a particularly controversial reputation as being ‘in the middle of nowhere’. He continues:
Then the Centre of Registers relocated here, and a whole business district began to develop – modern office buildings, service centres, restaurants and cafés. The municipality, which has already fulfilled its mission in Šnipiškės, could now move to Vilnius Connect. This would give a huge boost to the vitality of the district.
Although the Vilnius Connect project is a long-term project with planned and ongoing changes, the location, from which the Old Town can be reached in a few minutes, and the convenient access to other districts are already attracting property developers, investors and residents to Naujininkai. Currently, Citus is implementing a small project – Senamiesčio Link by CITUS – in Naujininkai, on Panevėžio Street, for a community of neighbours of only 45 apartments. More than 30% of the units in the project, which is being built in one phase, have already been sold or reserved. According to Tarutis, buyers are attracted by the strategic location, the functional layout of the spaces and innovative solutions: for example, the three-room apartments will provide space for working from home, a community gym will be dedicated to active leisure, a roof terrace will be used for recreational activities and the nearby square is to be landscaped.
The entire enclosed courtyard area around the L-shaped building will be monitored by CCTV cameras and illuminated, with special lighting on the facades. Moreover, the perimeter of the building and the hillside will guard the entrances to the courtyard and the houses. Tarutis explains how new projects set the tone for change:
When a new building appears next to an old, more dilapidated house, it raises the value of the whole area. Sometimes, we beautify the houses next door when we nurture our project. We have noticed that after a while, the residents who live next door often start to clean up their environment. This is viral and gradually inspires the renaissance of the whole neighbourhood.
Justiniškės comes to life
Tarutis also points out that when discussing the hottest real estate spots in the capital, Justiniškės should not be forgotten; it is increasingly becoming a focus for real estate developers. Its greenery, growing community, convenient infrastructure and increasingly modern housing projects attract residents.
A considerable advantage is the Western Bypass, which cuts the area in half, allowing quick access to other parts of the city and getting in and out of the city without congestions. Tarutis predicts that the area will be further transformed by another traffic artery – the first phase of Šiaurinė Street, which will stretch from the Western Bypass through Justiniškės to Laisvės Avenue:
We can already see the huge concentration of real estate projects by different developers in Justiniškės and Pašilaičiai. In about seven years, a huge Scandinavian-style urban area is expected to flourish here, flanked on one side by the Western Bypass and on the other by Šiaurinė Street.
According to Tarutis, not many places in the capital would allow residents to completely forget about the hustle and bustle of the city when they return home, which is why they are in very high demand. One of the few projects currently being developed in the middle of nature is Ežero Takais by CITUS in Sidaronių Street, next to one of the most extensive ponds in Buivydiškės. He explains further:
To ensure a high quality of life, we have chosen prestigious materials such as durable clinker and ventilated 3D fibre cement facade cladding for the two A++ energy class three-storey apartment blocks. However, the most distinctive features of the project are the leisure infrastructure solutions: fitness facilities in each block, sports clubs and leisure spaces for children and adults.
To ensure that the pond can be seen and enjoyed from the terrace or through the window, the developers of the Ežero Takais by CITUS project will also improve the pond’s shoreline and path. They will install a beach and a pontoon dock, provide a water bike and build a changing cabin, sunbeds and benches for residents. Tarutis states that this is the company’s strategy, which cares about the harmony of the buildings it constructs with its environment.