The new student houses in Vilnius and Riga offer what is relatively unusual in Lithuania and Latvia

Vilnius and Riga are like Paris, London, or Berlin. That's the words that perfectly describe "SHED Co-living", a student house that recently opened its doors in the capitals of Lithuania and Latvia. The new student houses are not only a great alternative to the old dormitories that are increasingly falling short of expectations but also to the privately rented accommodation.

Jan 12, 2023 The Baltic Times

"SHED Co-living“ is a type of student housing that is quite common in some countries, but still relatively new in Lithuania or Latvia. It is designed so that the residents not only would have a roof over their heads, but also an opportunity to fully develop and grow as a persons.

Creating yourself and your environment – bravely and authentically

"SHED Co-living" is a carefully designed student housing, which is developed around the needs of a young person entering a new phase of life, setting goals and shaping personality and character.

The name SHED symbolizes the shedding of the "old myself" and the initiative for changes: new experiences, undiscovered themes and vast possibilities.

According to Eglė Garnienė, General manager of SHED Co-living in Riga and Vilnius, the aim of these student houses is that the residents would always feel safe and comfortable like in their own homes. But at the same time that they would be able to step out of their comfort zone and discover new things, to grow and develop.

„We want to offer all the conditions not only to live comfortably but also to create, to discover new things, to find new friends, like-minded people. The environment of the student house and all its amenities encourage you to be a charismatic, active person who strives for high goals" says Eglė Garnienė.

"SHED Co-living" has 200 fully furnished single or double modern rooms in Vilnius and 240 in Riga. The rooms are fully furnished, with private kitchens and bathrooms.

In the same building, just a few steps away from their rooms, the residents can find many other things that make life more fulfilling. There are comfortable spaces for studying, working and free time spending. The residents can play computer games there, relax in the covered amphitheater courtyard or roof terrace, and cook dinner in the large, modern kitchen with full appliances.

The residents also have an opportunity to watch movies or sporting events, listen to music via a projector installed in the communal gathering area. Or just work out in the fully equipped gym.

There's no extra cost for all these amenities. One month's rent includes everything.

In addition, the "SHED Co-living" regularly organizes various events, activities, lectures, seminars and etc. to bring the community together.

The example has been taken from Western Europe

According to BONARD, a strategic consultancy and market research company that specializes in the field of international student sector and real estate student housing segment, private student houses are particularly abundant in Western Europe - the United Kingdom (UK), the Benelux region, France and Germany.

According to the latest figures, there are more than 350 places in London specifically for the accommodation of students. These places can accommodate more than 96,000 people, and almost 60 percent of them can be accommodated in private student houses similar to "SHED Co-living".

In Paris, there are more than 620 places specifically for the accommodation of students. These places can accommodate more than 75,000 people and almost 30 percent of them can be accommodated in private student houses.

Berlin has more than 110 places specifically for the accommodation of students. These places can accommodate more than 75,000 people and more than 30 percent of these people have access to private student houses.

Meanwhile, both Vilnius and Riga have almost 40 places specifically for student accommodation.

These places can accommodate over 12,000 students in Vilnius and 9,000 in Riga. But just 10 percent of those students have access to private student houses in Latvia's capital and only 2 percent in Lithuania's capital.

"SHED Co-living" is based on the many well-developed examples in Europe. It complies with the standards of the best universities in terms of student accommodation, which is oriented towards the full life of a young person.

The students are sharing their impressions

"SHED Co-living" is quite similar to the other student housing project "Solo Society" which exist for more than 4 years and operates in the second largest Lithuania city Kaunas.

The students who have been living in this type of accommodation for a while say that all the conditions there have not only met, but even exceeded their expectations.

"The best part is that this type of student house is a perfect blend of community and privacy. I feel very comfortable, because of having my own private bathroom and kitchenette. But as soon as I step out of my room, I can meet and interact with lots of people. And most importantly, not just anywhere and anyhow, but in the gym, on the terrace or in other special spaces. I really like quiet, but sometimes also want to interact with people. So everything fits my needs perfectly here", says Kristina, a medical student from Germany.

Odinaka, a Norwegian student living there, echoes Kristina's thoughts and says that if he has any hesitation before arriving, after seeing what the reality is, he now recommends this type of accommodation to other interested students.

"Study spaces, a roof terrace and etc. What more could you need? And you don't have to share a bathroom with a lot of other students, which is common in most dormitories. I think that the pluses outweigh the minuses here. I really like to interact with people, but sometimes also to be alone. So everything fits perfectly for me in the type of accommodation like this", says Odinaka.

The total investment in “SHED Co-living Vilnius“ is 10 million EUR and 12.5 million EUR in „SHED Co-living Riga“. “Citadele Bank“ is one of the main financiers of the project. It has provided a long-term 11.3 million EUR total loan for the student house project in Vilnius and Riga.

The student house project owner is the "European Student Housing Fund", a fund managed by the investment management company "I Asset Management". In early 2022, "I Asset Management" also launched a new fund "IAM CEE Student Housing Fund", which plans to mobilize an additional 125 million EUR to finance modern student housing projects in 12 cities in eastern Europe and the Baltic region. There are plans to purchase or build student houses with more than 4,000 rooms for up to 5,000 students by 2025. The student houses will be located in the Baltic States, Poland, Czech Republic, Slovakia, and Hungary.

„SHED Co-living“ representatives invite you to visit the official website to find out more about the project.

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