bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Friday 21.09.2018 | Name days: Matīss, Modris, Mariss
LatviaLatvia

Growing rental market activity

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

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

Rental market was active in February concerning both local and foreign tenants. International companies employees’ demand for apartments keeps growing as well.

Two, three-room apartments were the most demanded, also small size one-room apartments. Most of the clients were foreigners looking for a long-term residence, according to Ober Haus data.

While two (50-65 m2) and three-room (70-100 m2) fully renovated and furnished apartments dominated the supply. The supply lacks quality two-room apartments in the Silent Center and Old Riga at the price about 500 euro a month. This type of apartments is the most demanded one.

Silent Center is still the most popular among foreigners, while the so called active center is demanded among local clients.

Slight price gains were recorded in all the segments: 400-500 euro/month for one-room apartments, 450-600 euro/month for two-room apartments, 700-900 euro/month for three-room apartments. While the price of exclusive and fully furnished one-room apartments amounted to 450-500 euro/month (up to 550 euro/month in certain cases), 600-800 euro/month for two-room apartments (up to 900 euro/month in certain cases) and 900-1 000 euro/month for three-room apartments.

Private housing segment has remained stable with clients mostly being interested in various average size private houses. Slight interest in exclusive properties was observed as well. There is still a stable demand for average size private houses (about 200 m2) for up to 250 000 euro, with isolated rooms, logical design and ready for moving in. An even higher price is acceptable, if the housing is really exclusive and located near water.

Non-residents have also expressed active interest in purchasing private houses. The supply is stable, several average size and repairable properties have entered the market. In February, clients were also interested in apartment buildings in a favourable place and for a relevant price.

Similalry, February also reported certain interest in building plots with all the communications. This supply is little, though, because the land market was not active. The cheapest properties meeting the needs of the clients are gradually bough up, while objects (1 200-1 500m2) with all the communications in living areas report a slight price climb.


Leave a reply

  1. Bibi says:

    Riga is not Tokio nor Oslo How is it possible to ask 500 euros for a three room flat when 80% out of the population cannot afford it.

Lithuanian PM, a presumable presidential hopeful, set to curb grocery price growth

Having chastised food retailers on many occasions for high grocery prices, Saulius Skvernelis, the Lithuanian Prime Minister, stepped forward in the bid to harness local supermarkets. The presumed presidential candidate of the ruling Farmers and Greens (LVŽS) has summoned this week executives of major retail food chains, scolded them and reaffirmed his pledge to rein in the edging up prices.

Industrial prices in Estonia – up by 3.4% on year

The industrial price index in Estonia has risen from August 2017 to August this year by 3.4%, official statistics show.

Latvian parliament approves transition to competence-based approach in education content

On Thursday, 20 September, Latvia’s Saeima approved in the final reading amendments to the Education Law, necessary for the gradual introduction of competence-based approach in education materials.

Latvian Saeima wants to disallow shareholders to work in company management board

On Thursday, 20 September, Saeima approved in the first reading amendments to the Credit Institutions Law that provide for multiple measures to enhance Latvia’s finance system and its long-term stability, as reported by the parliament’s press-service.

Aglone Council prohibits residents from organizing protests during Pope Francis’ visit

A protest against the Catholic Church’s ban on abortions and expression of shock in relation to the recent sex scandals involving Catholic priests was planned to take place in Aglone during Pope Francis’ visit, but the city council decided to disallow them.

Latvian parliament conceptual supports pension bonus indexation

On Thursday, 20 September, Saeima supported in the first reading several initiatives for a more rapid pension climb for several groups of pensioners, as reported by Saeima press-service.

Majority Saeima deputies support open president vote; UGF members fail to decide unanimously

On Thursday, 20 September, amendments to the Constitution regarding open election of the state president were approved in the second reading.

Four Estonian parties have strong support, enough to enter Riigikogu

Four Estonian parties are believed to currently have enough support to enter the Estonian parliament, a broad opinion poll showed, as leading parties compete for voter backing.

Vitol Group concerned over state of rule of law in Latvia; turns to state officials

One of the largest energy resource traders in the world – Vitol Group – has sent a letter to Latvia’s highest ranking officials, expressing deep concern over the rule of law and application of legislative acts in the litigation between LatRosTrans and Polocktransneft Druzba over the EUR 66 million worth technological oil.

As Pope heads to Baltics, more attention to Catholic sex abuse

The time, when Roman Catholic Pope Francis is set to visit the Baltics, greatly differs from the visit by Saint John Paul II in 1993. There is public resentment over the countries spending several million euros to host the trip of the pontiff and the Catholic sex abuse scandals are topic of discussion.

Officials asked to take responsibility for misuse of state resources

If misuse of state resources takes place, officials have to take responsibility and pay for the damages caused to the state, says Public Expenditure and Audit Committee chairman Andris Bērziņš.

May asks EU not to divide Britain, while Brussels waits for UK change of position

At a European Union summit in Austria, UK's Prime Minister Theresa May called on EU leaders leave behind "unacceptable" Brexit demands that according to her may rip Britain apart.

Saeima decides to divide EUR 8.3 million of healthcare budget funds to finance reforms

Saeima’s Budget and Finance Committee has supported the initiative to divide EUR 8.277 million from the planned chronic patient care funding to further finance reforms in the country’s healthcare system.

20 complaints received in first 10 days of data protection regulation

In the first 100 days since adoption of European General Data Protection Regulation, Latvia’s Data State Inspectorate has received 20 data protection violation reports, said the centre’s director Daiga Avdejanova during a meeting of Saeima’s European Affairs Committee.

Ministry: non-banking lenders should assess clients’ solvency more carefully

Although certain improvements have been noticed in the industry, Latvia’s Economy Ministry invites amendments to make non-banking lenders perform more careful evaluation of clients’ solvency and allow creditors exchange information with one another.

Saeima argues over request to assess attempts to cancel «morality amendments»

During a meeting of Saeima’s Inquiry Committee, certain members and NGO representatives exchanged harsh words on Saeima opposition deputies’ request to Prime Minister Māris Kučinskis on association Papardes zieds’ protection of interests for the cancellation of so-called morality amendments.

EU residents believe European authorities should be more involved in certain areas

According to results of European Parliament’s Eurobarometer study, published eight weeks prior to elections in EU, residents believe European authorities should be more involved in certain matters. Priorities include terrorism threats, unemployment and environmental protection.

Estonian internet user growth strongest among elderly

The share of internet users in Estonia has continued to grow in 2018 and has over the past three months increased the most among 65–74-year-olds, official statistics show.

Regulator invited to assess calculation of electricity transmission tariff

Conclusions made by State Audit in relation to tariffs employed by Sadales tīkls show that recommendations received from OECD a couple of years ago in relation to public service tariff calculation should be carefully considered and adopted to ensure balance the interests of consumers and service providers.

Latvian police points towards stagnation in road traffic safety

So far this year 91 people have died in road traffic accidents in Latvia. According to State Police Road Traffic Safety Office Chief Normunds Krapsis, stagnation is present for road traffic safety.

Latvian government to attract EUR 29.5 million to restore Latgale’s degraded territories

On Tuesday, 18 September, Latvia’s Cabinet of Ministers supported the action plan for Latgale region’s economic growth 2018-2021, which provides for attracting of EUR 29.5 million to help restore the region’s degraded territories.

China announces retaliatory tariffs on U.S. goods, seeks free trade support

Beijing has stated it would impose a duty tariff increase on American imports worth 60 billion U.S. dollars in a reaction to Washington's announcement to add tariffs on imports from China worth 200 billion U.S. dollars.

Montenegro to join NATO battalion stationed in Latvia

According to NATO Deputy Supreme Allied Commander in Europe James Everard, Montenegro plans to join the multi-national battalion currently stationed in Latvia.

U.S. looking seriously at Poland's request for American base on its soil

U.S President Donald Trump has noted the country was looking seriously at a request from Poland for a permanent U.S. military base in the fellow NATO member state and agreed that Polish concerns about possible Russian aggression were shared.

Russian plane near Syria shot down by ally targeting Israeli planes

The Russian military plane, which went missing on Monday, has been shot down by its ally Syria targeting Israel's war planes and the number of servicemen lost in the event has been corrected from 14 to 15, the Russian government stated.