OREANDA-NEWS. July 15, 2009. According to "Lara" real estate agency, the highest demand was registered for the low-cost housing, while the demand for the increased comfort housing has fallen by average 10%. By mid-2009, the average prices for the long-term rent of 1, 2, and 3-room apartments amounted to: 170-240 euros for 1-room apartment, 200-250 euros for 2-room flats and 250-350 euros per month for 3-room apartments.

The decline in demand for the increased comfort flats led to reduction in prices for their rent. To date, you can rent 2-3 room apartments in a prestigious district of the city for 350-500 euros.

According to “Lara” forecasts, on the one hand, you can expect further price decline for renting expensive and low liquidity real estate objects due to decrease in investments from abroad and decline in the incomes of the business sector inside the country. On the other hand, further reduction in the real estate prices could spur some of the potential buyers not to hurry to acquire real estate. This will lead to greater demand for the cheap flats. That’ why, the rental prices of the low-cost housing will not fall-, “Lara" experts consider.