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Sunday 24.06.2018 | Name days: Jānis
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Still nothing to choose in the housing rent market

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

In autumn 2011, in the housing rent market there remained tendencies of the previous season – lack of housing space in various segments, starting from the lowest price category and ending with the highest, indicates rent market review of the real estate operator Rent in Riga.

Average apartment rent price in the centre of Riga both in spring/summer and in autumn season was 275 Ls per month. Compared to autumn of 2010, rent price for housings in Riga had increased by 11%.

In the autumn season there remained the same tendency as in previous seasons – a general lack of apartments in any price and quality category. Also new projects where construction was resumed in 2011, are mostly for sale, not for rent.

«It seems that there is a two-speed economics in Riga rent market. There are 80% or 90% people who can not understand how one can pay for rent 400 lats and more, even more than 1000 lats. However, such tenants exist, and it is difficult to find an appropriate apartment in such price categories,» explains Rent in Riga Board member Janis Lipsa.

The most popular new projects for rent in autumn were Miera iela 61, Panorama Plaza, Skanstes virsotnes, Tomsona terases and Dienvidu Pakavs 2.

In autumn there was increase in demand for rent apartments in Mezciems, Jugla and Sampeteris, but demand for standard apartments remained stable in Plavnieki, Purvciems, Ziepniekkalns, Agenskalns, Kengarags, Zolitude and Imanta.

Average rent price for a single-room apartment in autumn 2011 was 120 lats per month and it has not changed, compared to the summer season. Average price for double-room apartments in autumn was 150 lats per month and, compared to the summer season, it has not changed, too. Average price for triple-room and four-room apartments has also remained at amount of 220 lats per month.

«As there is a big uncertainty, it is difficult to predict how the rent market will develop. It seems that the situation will not grow worse, but there is also no basis for big increase in apartment supply, as well as there are no basis to expect decrease in rent prices – they are most likely to remain stable,» explains Lipsa.

Ref: 103.110.110.258


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