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As the summer rises, activity on the rental market is increasing every year and this year is no exception. The biggest demand comes from locals who are actively looking for good quality two-room apartments in their preferred location. According to the Arco Real Estate specialist, the prices of "premium" apartments on the rental market are currently equivalent to those of the old apartments, which means that tenants whose dwellings are out of date may be more difficult to attract customers.
. The offer shows a good quality two-room apartment in the center of Riga for a price of 400 to 550 euros per month, a line of six to ten people is created, which already indicates that the prices of the owners of Obsolete apartments will have to be cut. There are also local and foreign students who arrive gradually in Riga since the beginning of the month of August. With the approach of the new school year, students are the most active clients in this segment. Currently, the market share of Arco Real Estate, the number of missing rented apartments could reach a hundred, but in the sector as a whole – even more, Berzins said.
With the influx of students, recently, senior officials looking for three up to four apartments for a price of 1500 euros per month. This segment also shows a relatively small supply. If such apartments are available at an adequate price, they will "seize" at that time, Berzins informed. "Many are willing to raise prices for apartment owners, because of their high demand, but in reality they do not match the quality of their apartments.It is also a trend to show that many apartments are being released in August, "added Berzins.
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