This is how students live in Vilnius: there are no places left in these houses until August

2022 10 21

The Vilnius housing rental market was filled with a new, exclusive object, which very quickly ran out of vacant residences. The “Shed Co-living Vilnius” student house, which started construction a little more than a year ago, has officially opened next to the Santaras clinics. A total of 10 million EUR has been invested in modern and well-equipped student houses.

The client of the project is the fund “European Student Housing Fund” managed by the investment management company “I Asset management”.

SHED Co-living Vilnius offers 200 single and double rooms for rent. Currently, 219 students and young professionals from 32 countries live here. All residences were pre-booked back in August. According to Matas Mockeliūnas, a partner of the European Student Housing Fund, many prospects were seen even before the development of the SHED Co-living project.  The fact that the new student houses were quickly filled up shows the possibilities for the future.

“The assumptions that the project will be successful have come true. The resilience of private student housing market has been tested by the pandemic. We saw that even during its peak, in many European countries, the occupancy of similar student houses stayed at 80-90 percent, and both a year ago and now, at the start of the academic year, students are already filling up the private student houses that are in operation. This means that the demand for modern housing in the region continues to grow and remains huge.”

We see room for investing in similar objects in Lithuania in the future as well. We are interested in the main academic centers – the cities of Kaunas and Vilnius. We would develop these projects in cooperation with local real estate developers who could offer an attractive location suitable for student housing,” says M. Mockeliūnas.

The necessary capital for the SHED Co-living Vilnius project were gathered from more than 20 investors, which consisted of both private individuals, family offices and institutional funds.

Citadele bank is one of the main financiers of the project. The bank provided 5.3 million EUR long-term loan to the student house project in Vilnius.

According to Vaidas Žagūnis, member of the board of Citadele bank, head of the business banking department of the Baltic countries, the demand for quality and dynamic student housing that meets the standards of modern life, especially among foreign students, is extremely high throughout Europe. Vilnius is no exception.

“I Asset Management has excellent offers in the co-living segment, and this facility, located surrounded by medical specialists and medical facilities, will contribute to a comfortable study and living environment for local and foreign talents. I am sure that their residents will be satisfied and greatly surprised”, says V. Žagunis.

Read the entire article here.

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