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Published: 24 September 2010

Value of housing corporations' renovations increased by 6,2 per cent in 2009

In 2009, housing companies and state-subsidised rental dwelling companies spent EUR 1.4 billion on repairs to their buildings, which is 6.2 per cent more than in 2008. These data derive from Statistics Finland's statistics on housing corporations' renovation building.

Value of renovations of housing corporations 2008-2009

Housing companies' renovations accounted for approximately three-quarters, or a total of around EUR 1.05 billion, of all housing corporations' renovations. Renovations of housing companies increased by about eight per cent from the previous year. The value of the renovations was brought down by a decrease of 20 per cent in basic renovations. By contrast, annual repairs increased by 24 per cent from the previous year.

Roughly one-third of housing companies' total renovation costs arose from repairs to external structures, such as external walls, roof structures, windows, street doors and balconies. Good one-fourth of the costs came from repairs to heating, plumbing and ventilation systems. Repairs to internal structures of buildings made up nearly 10 per cent of housing companies' total renovation costs. The remaining renovation costs related to outdoor areas, building foundation structures, individual dwellings, electrical systems and other reparation measures.

Renovations were made to state-subsidised rental dwellings to the value of approximately EUR 347 million. The increase from the year before amounted to 1.4 per cent. The renovations of state-subsidised rental dwelling companies are usually planned well in advance, so variations in them are smaller than in the case of housing companies.

The statistics on housing companies' renovations are based on a sample of approximately 2,500 housing companies. The statistics on state-subsidised rental dwelling companies are based on data collected from the 16 largest municipal rental housing companies as well as from some large national rental housing companies.

Source: Renovations of housing corporations. Statistics Finland

Inquiries: Mika Sirviö (09) 1734 2723, rakennus.suhdanne@stat.fi

Director in charge: Hannele Orjala

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Appendix tables

• Appendix table 1. Value of renovations of state-subsidised rental buildings 2008-2009 (24.9.2010)
• Appendix table 2. Renovations of housing company buildings by object of renovation 2008-2009 (24.9.2010)
• Appendix table 3. Renovation costs of housing company buildings by year of completion 2008-2009 (24.9.2010)

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Updated 24.9.2010