Bonava Launches Rental Housing Booking Agreements

Next Wednesday, July 12, Bonava will begin concluding preliminary agreements for apartments in its rental building that will be completed this fall. For the first ten bookers, move-in is guaranteed without a security deposit.

Residential real estate developer Bonava is entering the rental property market. Rental apartments will be offered in addition to the sales-focused business line that has been the company's focus so far. Estonia's first apartment building built exclusively for rental will be completed in the Uus-Mustamäe residential area this year.

„We have been monitoring and analyzing rental markets for more than a year. Bonava's goal is to provide homes to as many people as possible, so it makes perfect sense to offer rental apartments alongside the apartments we sell." said Taavi Soorm, CEO of Bonava Estonia. „Today's new residential real estate market is tilted toward the buyer and does not offer as many modern rental homes as there is actual demand for," explained Soorm, why Bonava has decided to enter the rental market in the Baltics as well.

According to Statistics Estonia, 18.3% of Estonia's population today lives in rental housing. Among single-person households, 25.9% have rental status. Therefore, renting is increasingly becoming the new normal and is certainly one of the residential real estate sector's future trends.

Construction of Bonava's rental building will be completed in October. The first tenants will be able to move in in December, after the installation of furnishings and kitchens planned for the rental homes.

The exact prices for rental homes at Aiandi 11, apartment plans, and rental terms will be announced at a customer day taking place on July 12 from 4-6 PM at the Uus-Mustamäe development. On site, you can view the show apartment completed in the previous phase and conclude preliminary agreements. For the first ten preliminary agreement signatories, Bonava offers the opportunity to move in without a security deposit, and all those who book on that day will receive various additional benefits.

More information can be found on Bonava Estonia's website: www.bonava.ee/rent.