Canadian soldiers increase activity on Riga’s apartment market

Compared with Q1, clients’ interest for apartment rent on Riga’s market has grown in Q2 2017, as detailed in Ober-Haus housing market report.

In Q2, high demand for apartment rent was noticed among non-residents who moved to Riga for work. This includes Canadian troops sent to Latvia as part of NATO’s expanded presence.

Even now there is demand among students looking for apartments (two and three-bedroom apartments) to rent in September, notes Ober-Haus. In many cases students sign rent contracts early, paying rent a couple of months in advance even though the apartment will be needed no sooner than September.

Local residents usually search for cheaper rent options. Most of them are two-bedroom apartments within EUR 200 to EUR 450. The supply for these apartments is, however, small.

Districts in demand the most include the city centre, Teika and Agenskalns.

BNN/LETA

13-08-2017

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