Sharp rise in prices for rooms, traditionally rented by students, has been fixed in Tallinn. Area located next door to Mustamae that is the largest university of the Estonian capital, has today lost its position of the best rental housing option for foreign students. The reasons are hidden in the increasing of housing cost (both for sale and for lease) and small choice. According to ee24.com citing dv.ee, renting of a small room in an apartment where its owner will live too will cost €100-150 and renting of a decent room of 16 square meters will worth not less than €250-300.
According to the Estonian realtors, average prices are approx. €50 higher than they used to be in the last season and this amount is significant for students. One of the probable reasons causing the increase might be a big buzz appearing around the property on the eve of the new school year. In this case, prices will fall in 1 or 2 months period. Helen Siller, real estate consultant from Tallinn, advises not to rush with property renting and if you can wait, choose the suitable offer later, after the semester will start.
Today, the students are sharing rented housing, choosing spacious apartments to stay there two or three, in order to somehow get out of this situation. I must say that property owners are not enthusiastic when dealing with young, preferring couples. I can understand them, because many of the students, having escaped from their homes, are not too fond of study and prefer to arrange parties in rented apartments.
Some choose the different way and rent rooms in the suburbs, as comfortable trains make the road to the University completely unexhausting. In this regard, small towns, such as Kayla and Paldiski are very popular. Both cities are attractive with natural points of interest. For example, a famous waterfall is situated in Cale while Paldiski is located at the shore of the Gulf of Finland, ensuring great views and walks despite its remote distance from the capital (about 50 km).
All of these factors must inevitably reduce demand from students for real estate in Tallinn and shift priorities toward rental housing in small towns. Although this trend has the opposite effect, causing increase of rental rates for apartments and rooms in areas closed to the capital.