This post was automatically translated into English
Real estate companies are noticing an increase in buyers in areas near the center of Vilnius, which is why the second phase of the Švitrigailos namai project is starting earlier than planned. The real estate company Eika, which manages the project, has sold more than half of the apartments in the first building in a few months, so the second phase of construction and apartment sales will start in May, although they were scheduled for August.
Real estate companies are noticing an increase in buyers in areas near the center of Vilnius, which is why the second phase of the Švitrigailos namai project is starting earlier than planned. The real estate company Eika, which manages the project, has sold more than half of the apartments in the first building in a few months, so the second phase of construction and apartment sales will start in May, although they were scheduled for August.
According to Martynas Žibūda, development director of the company “Eika”, a convenient location and developed infrastructure are the main reasons why Naujamiestis has become one of the most attractive districts of the capital among both buyers and builders. In the first quarter of 2015, 240 new apartments were sold there, and currently buyers can choose from 300 apartments. About 20 percent of the Naujamiestis supply is made up of “Švitrigailos namai”, where 62 new apartments out of 92 are being sold in two 7-storey apartment buildings.
“The rapidly growing Naujamiestis confirms its status as one of the most attractive districts of Vilnius. Currently, the most popular apartments are 1-2 rooms, smaller, 27-45 square meters, apartments. This is an investment for young people who have not yet started a family and want to live closer to the vibrant Old Town of the capital. If their plans change in the future, the apartment could be rented out,” says M. Žibūda.
““More spacious 3-4-room apartments are usually chosen by families aged 30 and older, for whom Naujamiestis is a suitable place due to the nearby schools, kindergartens, and shopping centers,” says M. Žibūda.
It is planned that the first settlers will move into Švitrigailas namai at the end of this year, and the second phase of the project will be completed by the third quarter of 2016. The project is financed by Swedbank.
About the Eika group of companies
Founded in 1992, Eika is one of the largest real estate development and construction groups in Lithuania. The group of companies consists of: UAB Eika – a leader in the real estate market, valued for its innovation, reliability and responsibility; UAB Eikos statyba – a construction company with extensive experience in the construction and renovation of administrative, public, commercial, industrial and residential buildings.
More information:
Vitalija Roče
Marketing and Communications Manager
Phone: +370 698 56273
Email: [email protected]