German Russian BETA Finnish Norwegian translation powered by
Mobile version »

RUB 0.0000

USD 1.0385

GBP 0.8512 See all »

HOME

HOTELS

DINING

ENTERTAINMENT

SHOPPING

BUSINESS

EXCURSIONS

HIP RIGA

MEDICINE

Live WebCam
|

Real estate rental market trends in Riga

By Anatol Steven. 28.09.2012

print | e-mail

Property rental trends: prices stabilize but less offers on market

Gallery: Posh property

Stabilization in prices, changes in landlord structure and short-term agreements, an offer deficit in Riga and disappointment among real estate owners in Jurmala – these appear to be the main trends in the rental market in Riga in 2012.

According to experts at Baltic Sotheby’s International Realty, a company specializing in premium real estate, one of the more obvious trends is the lack of new premium rental offers in downtown Riga.

“Today the main problem for the rental market in the premium class segment is the deficit of properties on offer,” Vestards Rozenbergs, co-owner and chairman of the board of Baltic Sotheby’s International Realty, commented.

According to him, the requirements of potential tenants have remained unchanged over years: a new or renovated building with concierge, security, parking space, and, most definitely, excellent decoration.  Yet apartment owners often ignore the last two requirements, hence the limited number of offers.

The most popular location among tenants in the capital remains the so-called embassy district, with the Old Town taking second place in terms of popularity.

“Foreign high-class experts such as bank employees or engineers, people for whom it's convenient to reach the workplace in the center, as well as tenants without a family and those who like a noisy, worldly life, prefer renting an apartment in the Old Town,” Rozenbergs said.

In the past year there has been a stabilization in prices in the premium-class rental segment, he added. Prices are slowly approaching their pre-crisis levels – before they were artificially raised to €20/sq m – and at the moment they stand at €12-15/sq m, depending on the apartment area.

However, sometimes costly offers are realistic and reasonable, such as projects located on Martas, Valnu, Vagnera, Alberta, and Vilandes streets.

The structure of tenants using premium class apartments in downtown Riga have remained practically the same over the years – diplomats and top management at big international companies who prefer renting an apartment with two to four bedrooms, with or without furniture, for long-term periods.

But a new caste of landlords has emerged recently – foreigners who have acquired apartments in new projects located practically in downtown Riga, such as buildings on Skanstes Street or Tomsona Terrace.

According to practice, the majority of foreign property buyers rent out their real estate.

 

Photo by Indrikis Sturmanis

Shadow economy shrinks as GDP rises Latvia could join euro in 2014

David 27.02.2015 14:56

I can suggest to check out www.balticsuites.com/ good apartment deals.

Reply

Albertshish 29.08.2018 14:32

The men's prostate is a vital part of a male's reproductive system. It secretes fluids that assist the transportation and
activation of sperm. The prostate gland can be found just in front of the rectum, below the bladder and surrounding the
urethra. When there is prostate problem, it is usually very uncomfortable and inconvenient for that patient as his urinary
strategy is directly affected.

The common prostate medical problems are prostate infection, enl

Reply

XEvilBestgek 11.10.2018 02:50

Yep, f*kin sp*am. Yes, yes, yes, AGAIN. And - yes, IT F*KIN WORKS BECAUSE YOU READ IT! :)
Because XEvil 4.0 WAS RELEASED! It's bypass ANY captcha included ReCaptcha-2 and ReCaptcha-3.
Neeed more info (just to...maybe kill this Evil? ;))

Just Google or YouTube for it.
You'll be impressed.

Peace to you, bro! :)

Reply

DebraMip 13.10.2018 06:37

Я подумал и удалил этот вопрос

Reply

Mariapal 14.10.2018 20:17

Vous ne vous sentez pas concernés par l'hypertension ? Mais êtes-vous réellement sûr d'être à l'abri ? Le Comité
Français de Lutte contre l'Hypertension Artérielle a décidé de s'adresser à toutes les personnes âgées de 30 à 55
ans. Chacun, avec des règles de vie simples et des précautions, peut garder sa tension sous contrôle.

On estime à plus de 14 millions le n

Reply

Read the rest of user comments»