Published: 29 August 2016

Owners of dwellings and housing companies renovated with over EUR six billion in 2015

According to Statistics Finland, owners of dwellings and housing companies renovated their dwellings and residential buildings to the tune of EUR 6.3 billion in 2015. Combined renovation costs grew by nine per cent from 2014. Renovation costs were at the same level in 2014 and 2013. EUR 3.1 billion was spent on renovating detached and terraced houses. EUR 2.5 billion was used on renovations to blocks of flats, and EUR 690 million to dwellings in terraced houses.

Most of the renovations to blocks of flats, EUR 1.97 billion, were spent on renovations made by housing companies and the remaining EUR 500 million on own renovations or contracted renovations by owners of dwellings in blocks of flats. Terraced house companies used EUR 350 million on renovations and owners of terraced houses EUR 330 million.

The figures include value added tax. The value of own work was not taken into account in renovations made by dwelling owners.

Renovation costs by type of house and structural element in 2015, EUR million

Structural element Type of house
  Detached and semi-detached houses Terraced houses Blocks of flats All 2015 All 2014 All 2013
Damp areas 486 115 245 847 625 749
Kitchen 338 114 133 585 516 602
Living and other areas 425 104 135 664 654 883
Outer surfaces and structures 880 182 784 1,846 1,620 1,510
Building technology 578 99 841 1,518 1,645 1,496
Yard area and outbuildings 389 39 152 580 509 352
Indoor areas of the housing company .. 31 195 226 202 154
Total 3,096 685 2,485 6,266 5,771 5,745

Renovation costs relative to the floor area amounted to EUR 48.0 per m2 in blocks of flats in 2015. The corresponding cost item was EUR 29.7 per m2 in terraced houses and EUR 24.2 per m2 in detached houses.

Housing companies were asked about large renovations that are planned for the next ten years. Over 20 per cent of the housing companies that answered the question were planning a façade renovation and as many a yard renovation. Nineteen per cent were planning a roof renovation, 18 per cent a water supply system renovation and 15 per cent a sewerage system renovation.

Large renovations planned by housing companies, percentage of respondents

Large renovations planned by housing companies, percentage of respondents

EUR 900 million used on renovating industrial and warehouse buildings

Statistics Finland has analysed for the first time the renovation costs of industrial and warehouse buildings. In 2015, EUR 919 million was used on renovations to those buildings. Relative to the floor area, the renovation costs of industrial and warehouse buildings were EUR 11 per m2.

EUR 1.2 billion was used on renovations of public service buildings, EUR one billion on office buildings and EUR 670 million on commercial buildings in 2015. The renovation costs of these groups of buildings were calculated based on 2014 costs and granted renovation and expansion permits. The renovation costs of office buildings are estimated to have grown by 13 per cent from 2014. The renovation costs of public service buildings and commercial buildings remained on level with the year before.

Renovation costs of buildings by purpose of use of the building

Year Use of the building
  Industrial buildings and warehouses Commercial buildings Office buildings Public service buildings
2013 . 2) .. 2) .. 2) 1 298
2014 .. 2) 669 910 1,223 1)
2015 919 1) 668 1) 1,032 1) 1,229 1)
1) Estimated based on renovation and expansion permits
2) The renovation costs of commercial and office buildings were examined for the first time for 2014 and the renovation costs of industrial and warehouse buildings for 2015.

Source: Renovation of buildings and apartments. Statistics Finland

Inquiries: Eetu Toivanen 029 551 3331, Jose Lahtinen 029 551 3776, rakennus.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

Publication in pdf-format (237.3 kB)

Tables

Appendix tables

Figures

Updated 29.8.2016

Referencing instructions:

Official Statistics of Finland (OSF): Renovation building [e-publication].
ISSN=1799-2974. Renovation of buildings and apartments 2015. Helsinki: Statistics Finland [referred: 16.10.2019].
Access method: http://www.stat.fi/til/kora/2015/01/kora_2015_01_2016-08-29_tie_001_en.html