Rental housing

Demand for rental housing remained strong in growth centres. Differences between regions are increasing and in some regions, supply and demand are now equal. As in previous years, the strongest demand focused on smaller apartments, that is, studios and one-bedroom apartments.

The rental occupancy rate remained at a good level, standing at 96.9 (97.4) per cent for the review period. At the end of the review period, 250 (527) apartments were vacant due to renovations. The tenant turnover rate, which includes internal transfers, increased slightly when compared to the corresponding period of the financial year 2015 and was 7.6 (6.8) per cent.

28,386

 

Lumo rental apartments

 

The average rent for the Group’s 28,386 (26,808) market-based rental apartments (Lumo) was 14.40 (13.80) per sq m per month during the review period, and EUR 14.16 (13.52) at period end. The corresponding figures for the 8,907 (13,952) apartments rented at cost price (VVO) was EUR 12.93 (12.77) during the review period and EUR 12.73 (12.58) at period end.

At the end of the review period, there were 13,735 (18,774) active applications. (Applications are active for three months.) The average number of active applications per rental agreement termination was 15.1 (19.0). A total of 12,742 (16,476) new rental housing applications were received during the review period.

6.0

 

average period of tenancy

 

The car sharing scheme for Lumo residents was extended to Vantaa. Car sharing services are also available in Tampere’s Hervanta district, Espoo’s Suurpelto district, Jyväskylä, Helsinki’s Sörnäinen district and Turku. The Lumo kotinyt.fi service, launched last autumn, has been well received: by the end of the review period, approximately 350 apartments had been selected and rented through the service.

The average period of tenancy remained at an excellent level, 6.0 (5.9) years. Thanks to successful rental control and our housing advisory service, the proportion of annual turnover from rental operations accounted for by rent receivables remained low and stood at 1.0 (1.2) per cent at the end of the review period.

Rental occupancy rate

%201220132014Q1/20152015Q1/2016
Rental occupancy rate98.798.598.197.497.696.9

Rental housing stock 31 March 2016

31 March 2016
Lumo apartments 28,90128,901
VVO aparments 8,3928,392
 
 

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