“EIKA Group” sold 384 apartments of new construction in Vilnius during 2015. Compared to 2014, the sales of new apartments of the company increased by 37%
“I think, the main reason for successful sales is a large variety of different projects. We were the only one in the market to offer up to eight projects in Vilnius for those looking for a new home. Moreover, our new project management service to external developers proved to be profitable. We have successfully implemented “Švitrigailos namai” and “Tilto-12” projects, which have helped to offer a wider range of apartments in medium and prestigious housing categories”, says Martynas Žibūda, development director of “EIKA”.
“The year of 2015 was record high both to our company and to the whole Vilnius real estate market. Expert forecasts for reducing sales after introduction of the euro, or drop of prices due to stiff competition, did not materialize. Last year, buyers also boldly chose housing and had better selection options than ever before. Very low base interest rates on loans also contributed to the purchase of housing and those buying at own funds chose real estate as a more lucrative alternative to low deposit rates. If in 2013 banks credited as much as 69% of our apartment sales, last year only 46% of customers were using a bank loan for housing purchase. This indicates a relatively strong financial position of housing buyers, which we hope to maintain this year”, says “EIKA” development director.
Last year, as well as in previous years, the most popular was project in Pilaitė by “EIKA”, in which 146 apartments of new construction were sold. 74 apartments and town houses were sold in “Santariškių namai” project developed near Verkiai regional park since 2005. In the third place was the new project in Naujamiestis – “Švitrigailos namai”, where 61 apartments were sold..
In 2015, “EIKA Group” invested 12.5 million euro in real estate development in Vilnius and added 450 new apartments to the general supply, i.e. 50% more than in 2014. This year, “EIKA” is planning to contribute to the new construction housing supply in Vilnius with 350 new apartments. In 2016, the company will continue the development of residential neighbourhoods in Pilaitė and Bajorai districts, will complete “Santariškių namai” project and launch new residential projects in Žirmūnai and Šnipiškės.
About “EIKA group”
“EIKA”, established in 1992, is one of the largest real estate development and construction company groups in Lithuania, successfully developing residential, commercial, public buildings and other projects, creating new quality of life and work. The company has already built more than 3,000 apartments and 270 thousand square meters of buildings. “EIKA” has been awarded many times, as the best real estate developer in Lithuania, its projects “Santariškių namai” and “EIKA namai Pilaitėje” were recognised as the best in Lithuania.
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