Offerings from Tallinn’s apartment rental market were far more varied at the beginning of this academic year than in the past, and that was because of a confluence of various reasons, Helen Šank, a broker and consultant at the 1Partner Kinnisvara real estate agency, declared in a news release on Wednesday. “It is much easier for students to find suitable accommodations.”
“In previous years, students started to look for rental flats in July, but this year few such activities were seen before August,” Šank said. “Demand is also reduced by the fact that many families have decided that the present-day economic climate is one in which it makes sense for young people to live at home longer than they would otherwise do.”
The widespread use of E-learning, moreover, means that young people don’t have to attend lectures physically as often as was the case in the past. This, in turn, reduces their need to move to the town or city where the institution of higher learning is located.
Those who want to live on their own should be prepared to spend at least EUR 250 per month plus utility fees for a flat in Tallinn that measures 14-18 m2 in size and is comparable to a dorm room. Rent for traditionally sized one-room apartments begins at EUR 350 per month, and these are usually located in older buildings that are further away from the city centre, Šank said.
Two years ago the rental market in Tallinn was seriously influenced by war refugees arriving from Ukraine, but this impact has now dissipated.
Šank says that there is currently greater demand for three-room rental flats, which may be based on demand from Ukrainian families that have established themselves in Estonia and want more living space for themselves. It is also common for several students to rent a three- or four-room flat to share the cost. The rental market has also seen the emergence of former property owners who have decided to sell their dwelling in Estonia, invest the money elsewhere, but wish to offer rental opportunities at least for a while.
1Partner has offices in Tallinn, Tartu, Riga and Vilnius. It is a leading real estate group in the Baltic States with more than 20 years of experience.
Source: BNS
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