News
EfTEN Living leases all 102 Easy Riga apartments in less than a year, demonstrating demand for professionally managed rental housing in Riga.
Less than 10 months after the Easy Riga apartments were first offered for rent, all 102 apartments in the Riga-based Ķengarags project have been leased. The result demonstrates the strong demand for professionally managed rental housing and further supports EfTEN Capital Latvia’s strategy of developing modern residential property solutions across the Baltics.
Easy Riga is the first residential rental housing project of EfTEN Living in Latvia. EfTEN Capital Latvia acquired the property in 2023, with total investment in the acquisition, complete renovation and modernisation of the property exceeding EUR 7.5 million. Following the reconstruction, the 12-storey building offers 102 rental apartments - 35 studio apartments and 67 one-bedroom apartments ranging from 34 to 40 square metres.
The strongest demand was for one-bedroom, or two-room, apartments, which were leased the fastest. The profile of the project’s residents largely corresponds to the target audience initially identified for the project - young professionals, couples, students and small families who value the opportunity to live in a modern, fully equipped home with professional property management.
“When launching the EfTEN Living brand and developing the Easy Riga project, our goal was to create not only high-quality apartments, but a complete residential solution - with thoughtfully designed infrastructure, convenient day-to-day management and a high level of service. Today, we can see that this approach has responded to the needs of the market - all 102 apartments have found their residents in less than a year,” says Viktors Savins, Chairman of the Management Board of EfTEN Capital Latvia.
Particular attention in the development of the Easy Riga project was paid to solutions designed to enhance residents’ everyday quality of life, including fully equipped apartments, a single payment solution for utilities and other services, secure building access, a shared laundry room, storage facilities and bicycle parking. These features were designed to provide tenants with a convenient and modern living experience.
Kaspars Roga, Head of the Easy Riga project, emphasises that leasing all the apartments does not mark the end of the project, but rather the transition to the next stage - long-term property management and value preservation.
“Residential property is a living organism - processes are constantly taking place within it, residents’ needs evolve and a community develops. Our work does not end with the signing of the final lease agreement. On the contrary, this is when the long-term work of maintaining the quality of the building, the level of services and the resident experience truly begins,” emphasises K. Roga.