Nascent but rapidly emerging PBSA market in the Baltics. University dormitories dominate with new co-living operators (SHED, Duck Republik) entering the modern segment.
University dormitories control 76% — modern co-living operators emerging in Riga with SHED and Duck Republik
| City | Students | Current Beds | Bed Gap | Students/Bed | Priority |
|---|---|---|---|---|---|
| Riga | 48,000 | 7,200 | 0 | 6.7 | 🟢 BALANCED |
| Jelgava | 5,800 | 450 | 420 | 12.9 | 🟡 MODERATE |
| Daugavpils | 3,200 | 280 | 200 | 11.4 | 🟡 MODERATE |
| Liepaja | 2,100 | 180 | 135 | 11.7 | 🟡 MODERATE |
| Valmiera | 1,500 | 150 | 75 | 10.0 | 🟢 MODERATE |
| Other Regional | 10,400 | 240 | 1,320 | 43.3 | 🔴 HIGH |
University of Latvia leads — SHED and Duck Republik pioneering modern PBSA
University-dominated with growing private sector
Riga dominates with 85% of beds — regional markets significantly underserved
10K international students (14% of total) — India is leading source market with 18% share
University of Latvia leads; RSU has highest intl concentration (25%)
India leads with 18% — diverse European and global mix
New co-living concept offers 3x rent but premium amenities
Latvia's 12% vs UK's 54% — significant growth potential
Latvia offers affordable living — total costs €470-1,150/month
Tuition: €800-12,000/year depending on program (RSU Medicine: €12,000)
Riga dominates with 94% of organized sector revenue
€24.5M development activity 2023-2026 — SHED pioneering modern PBSA segment
SHED leads private investment — universities upgrading dormitories
3.7x premium for modern co-living vs basic dorms
Insight: International students willing to pay premium for quality — segment is underserved
Early-stage Baltic market with proven co-living demand. SHED's 2023 success validates modern PBSA concept. EU membership provides regulatory stability. Strong growth potential with limited competition.
First-mover advantage in Baltic PBSA with proven co-living model
International students increasingly rely on AI assistants for accommodation research before arriving in Latvia
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