Rendin's latest survey shows that 51 percent of landlords want to raise the price this year or have already done so. At the same time, 25 percent of the respondents want to increase the price by 10 percent, and less than 20 percent of the respondents want to increase it by 10-20 percent.
One of the reasons for wanting to raise the price is the increase in the Euribor, as well as inflation, energy and fuel prices. However, the survey also revealed that 58 percent of those respondents who have three or more rental apartments want to raise the price today.
One of the founders of Rendin, Algis Liblik, who is a rental investor himself, said that he cannot raise the rent at present, because it would not go along with the general market trend. “It's a difficult time for investors, because looking at the costs, it seems as if the price should be raised, but I do not see a chance for that, especially in Tallinn," said Liblik. According to him, there are two groups who can raise rent: those who have not done so for a long time, or those whose tenant changes, yet there is not much margin here, because there is an oversupply of rental apartments in Tallinn – more than 1,500 apartments – which means that competition pushes the price down rather than up.