EUR 6.8 billion were used on renovations of dwellings and residential buildings in 2021
Change
According to Statistics Finland, owners of dwellings and housing companies renovated their dwellings and residential buildings to the tune of EUR 6.8 billion in 2021. The amount of money spent on renovations went up by 6.7 per cent from the level of 2020. Growth was recorded in the renovations directed at terraced houses and one-dwelling and two-dwelling houses. EUR 3.7 billion were spent on renovating one-dwelling and two-dwelling houses. EUR 2.3 billion were used on renovations to blocks of flats, and EUR 870 million to terraced houses.
Key selections
- The value of renovations of one-dwelling and two-dwelling houses grew by 16.8 per cent from the year before.
- The amount of money spent on renovations fell in block of flats companies by 11.2 per cent and grew in dwellings in blocks of flats by 9.8 per cent.
- The value of renovations of terraced house companies grew by 4.1 per cent and that of dwellings in terraced houses by 12.6 per cent.
- The combined interior renovations of dwellings of the house types increased by 18.0 per cent and renovations of buildings grew by 1.6 per cent compared with the previous year.
EUR 1.45 billion were spent on renovating one-dwelling and two-dwelling houses. In terraced house companies, the renovation of owner-occupied dwellings amounted to EUR 354 million and in block of flats companies to EUR 554 million.
Building repairs in one-dwelling and two-dwelling houses amounted to EUR 2.26 billion. Building repairs commissioned by housing companies cost EUR 1.70 billion and those commissioned by terraced house companies EUR 520 million.
The figures include value added tax. Renovation costs do not include the value calculated for own work and communal work. In terraced houses and blocks of flats, housing companies are responsible for the renovation of exteriors and structures, building technology, yard area and yard buildings, and the house company's interiors. Owner-occupiers are responsible for the repair of damp areas, kitchen, living and other premises in the dwelling.
Renovation costs relative to the floor area of the building stock amounted to EUR 41.2 per m² in blocks of flats in 2021. The corresponding cost item was EUR 32.6 per m² in terraced houses and EUR 28.1 per m² in one-dwelling and two-dwelling houses.
Housing companies were asked about large renovations planned for the next ten years. Nineteen per cent of the housing companies that answered the question were planning a façade renovation. Seventeen per cent of housing companies were planning a roof renovation and a yard renovation. Altogether 14 per cent were planning a water supply system renovation and around 13 per cent were planning a renewal of the heating system and sewerage system renovation.
The renovation costs of state-subsidised rental dwelling companies amounted to EUR 442 million in 2021 and to EUR 506 million one year earlier.
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- Type of dwelling
- Reasons for renovation
- Reasons for renovation
- Type of housing company
- Structure element
- Type of renovation
- Planned time
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