The opportunity to finance the costs of finishing the apartment with a housing loan, guarantees for all finishing works from one contractor and, of course, less time spent – The main reasons why buyers are increasingly choosing to purchase a home with full finishes rather than bare walls.
Real estate experts estimate that sales of fully finished apartments are growing every year – according to the company “Eika”, this year fully finished apartments are purchased by 5 percent more than in 2018, which accounts for about a quarter of the company’s total sales. Out of 100 apartments sold, an average of 20–25 are sold fully finished. The largest number of fully finished apartments is purchased in projects being developed in Žirmūnai and Pilaitė.
The entire apartment decoration includes the installation of floors, walls, ceilings, window sills, a bathroom with all plumbing, as well as built-in lighting, switches, kitchen furniture and equipment, such as a refrigerator, stove, sink, hood. Before purchasing an apartment, buyers, together with an interior designer, can choose from the offered material options, colors, and equipment and thus furnish the apartment according to individual needs.
Exposition apartments are tempting
Companies also offer buyers so-called exhibition apartments, which are not only finished, but also have designer-selected living room, kitchen or bedroom furniture. Buyers acquire such designer-prepared exhibition apartments with all the furniture in less than a month.
“Up to 10 percent of all apartments are sold as display apartments. We furnish them in such a way that you would want to live there right away. Sometimes we don’t even have time to put flowers in a vase and the apartment is already bought. True, sometimes we have to move furniture to another apartment because the client says that the decoration is suitable, I buy it, but I will choose the furniture myself,” says Maija Nikitina, decoration project manager at Eika.
She notes that purchasing a furnished, furnished showroom apartment requires a larger down payment, which is why some buyers turn down such an apartment due to limited financial resources. Typically, buyers are offered up to 10 showroom apartments in various projects.
Brighter colors are popular now
Real estate experts would not like to say that Lithuanians are particularly loyal to the Scandinavian style. Recently, brighter colors or more modern floor or ceiling accents have been increasingly chosen for home decoration.
“Buyers like to express their individuality, and apartments can be furnished in a classic to minimalist style. True, there are cases when a client chooses a Scandinavian-style living room interior, and the kitchen somehow strays into the classic path. Buyers’ wishes and tastes are often completely unpredictable and may not coincide with the designer’s vision. For example, it is proposed to incorporate curtains of a different style into the uniform style proposed by the designer. Then a common solution is sought,” smiles M. Nikitina.
According to her, if an apartment is purchased for rent, buyers prioritize the price-quality ratio and choose materials based on this criterion. For investors, the most important thing is a quick payback. “Of course, there are investors who believe that interior design will affect the rental price. But there are few of them,” says M. Nikitina.
A representative of Eika estimates that finishing a home can take up to 3-4 months and buyers don’t need to worry about anything. Buyers who purchase a home with bare walls usually do the finishing themselves, so it can take six months or longer.
About the EIKA group of companies
Founded in 1992, EIKA is one of the largest real estate development and construction groups in Lithuania, successfully developing residential, commercial, public and other building projects. The company has already built almost 4,500 apartments and 416 thousand square meters of buildings. EIKA has been awarded many times as the best real estate developer in Lithuania, the company’s projects “Santariškių namai”, “Basanavičiaus 9A” and “Eika namai Pilaitė” becoming the best in Lithuania.
More information:
Jorūnė Juodžbalytė
Marketing and Communications Manager
Phone: +370 686 80126
Email. [email protected]