Ainių Namai project in Panevėžys has been completed – all apartments have been sold

With the sale of the last of the 114 apartments, the “Ainių Namai” neighborhood—a complex of six low-rise apartment buildings developed in three phases—has been officially completed. It is one of the largest projects in Panevėžys in recent decades. The real estate services company Ober-Haus, which has assisted the developer from the very beginning, sees a consistent demand for new housing in the capital of Aukštaitija; therefore, new apartment buildings in the city would not only be unsurprising but also welcomed by buyers.

In the western part of Panevėžys, on a 1.2-hectare site on Ainių Street, the project—built in phases between 2022 and 2024—welcomed its final new residents this spring. Gražina Bajorūnienė, sales manager for the “Ainių Namai” project and a real estate expert at the Ober-Haus Panevėžys office, explains that the neighborhood has attracted active interest from the very beginning, with young families from Panevėžys city and the surrounding district being the primary buyers.

“We also saw active interest from Lithuanians living abroad—some of them bought homes as an investment or with the possibility of returning in the future in mind. Overall, the decisions of Panevėžys residents are increasingly focused on the long term: buyers’ choices are no longer determined solely by price or square footage, but by a well-maintained and thoughtfully designed environment, practical layout, convenient access, parking spaces, and storage units,” says G. Bajorūnienė.

In the Kniaudiškiai neighborhood, a favorite among Panevėžys residents, the developer “Ainių namai,” in collaboration with “Ober-Haus,” designed and built one-and-a-half- to three-bedroom apartments ranging from 34 to 100 square meters in four-story buildings. Each apartment owner had the option to purchase one or two parking spaces and a storage unit; some residents on the first and top floors enjoy terraces. The project’s neighborhood features well-developed infrastructure, yet the “Ainių namai” complex itself is not surrounded by high-rise apartment buildings.

Ober-Haus assisted the developer, MB “Ainių namai,” in this project by helping to acquire the plot, formulate the neighborhood concept and housing structure, prepare and implement the sales strategy, and handle marketing. Previously, the “Ainių namai” developer has completed several mixed-use commercial and residential projects on Smėlynės and Vasario 16-osios streets in Panevėžys, and is currently exploring new development opportunities.

The Panevėžys Market: Demand Outpaces Supply

Ainių Namai’s results reflect broader trends in the Panevėžys housing market. In recent years, the city has seen consistent demand for new housing, but supply remains limited. Since Panevėžys has never been known for extensive apartment building development, every new project here attracts significant buyer interest.

“Limited supply is also changing buyer behavior—some choose to wait for new projects, while others look for alternatives, such as converted properties or renovated buildings. However, such solutions are more often a compromise, and clearly planned new construction projects remain the priority. We see that the people of Panevėžys want to build a future in their city, but not just any future—they want modern housing that meets contemporary needs,” says G. Bajorūnienė.

The supply situation is expected to change in the coming years—new housing projects are planned both near “Ainių Namai” and in other parts of the city, and conversions of former administrative buildings are also being considered. However, due to the limited number of plots and more moderate demographics, a significant jump in supply should not be expected for the time being.