Revenue of »rental and operating of own or leased real estate« in Latvia 2011-2023
Latvia is fast emerging as a Baltic startup hub, fuelled by the favorable business conditions, low tariff rates and rising investments. This has augured well for its rental and operating of own or leased real estate market, with revenues witnessing a rise from 817 million U.S. dollars in 2011 to 1.1 billion U.S. dollars in 2019. In fact, most of the consumers are increasingly looking to rent rather than buy properties, owing to the high prices of residential and commercial properties. This is one of the main reasons the buying and selling of own real estate market has been declining in the country.
As of 2018, the average monthly rental cost for apartments in the capital city of Riga amounted 862 U.S. dollars, amongst the lowest in the EU.
Hotels starting to feel the pinch
With companies such as Airbnb continuing to expand, Hotels in Latvia are starting to feel the effect. As per details from Lsm.lv, the online marketplace company offers apartments in the capital city of Riga for as much as 12 euros per night, which has led to a surge in demand over the years.
As of 2018, the average monthly rental cost for apartments in the capital city of Riga amounted 862 U.S. dollars, amongst the lowest in the EU.
Hotels starting to feel the pinch
With companies such as Airbnb continuing to expand, Hotels in Latvia are starting to feel the effect. As per details from Lsm.lv, the online marketplace company offers apartments in the capital city of Riga for as much as 12 euros per night, which has led to a surge in demand over the years.
