Foreign students ready to shell out more for rent

Foreign students are ready to pay about €100-200 more for a rental apartment in Riga than local students, reported BNS on Wednesday.

Latio real estate company's representative Girts Krumins told BNS that as the new school term begins, the demand for rental apartments has risen.

"Local students are usually searching for rental apartments directly, through ss.lv Internet portal or other sources," he said.

Foreign students from the Erasmus exchange program are quite interested in rental apartments in the center of Riga.

"Foreign students are interested in apartments with three or more bedrooms, they want to share the apartment and are ready to spend €300-400 a month each on rent," said Krumins.

Dzintars Berzins from Arco Real Estate said that, compared to summer months, which were moderately active in the rental market, the flow of students from Latvian regions and abroad has stepped up the activity.

"Arco Real Estate feels the biggest growth of demand from foreign students -- from Germany, Sweden, Spain. There is a considerable difference in purchasing capacity of local residents and non-residents," told Berzins.

"Local students are ready to pay some €200-300 a month for rent, while foreigners are ready to pay €300-500," he said.

He also said that foreign students most often choose apartments in downtown Riga due to its favorable location and entertainment facilities.

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