Value of housing companies' renovations increased by 5 per cent year-on-year in 2012

In 2012, housing companies and state-subsidised housing corporations spent over EUR 1.5 billion on building renovations, which is one per cent more than in 2011. These data derive from Statistics Finland's statistics on housing corporations’ renovations.

Value of housing companies' renovations in 2009 to 2012 by building type

Housing companies

Housing companies spent approximately EUR 1.2 billion on renovations in 2012. The renovations of housing companies formed a good three-quarters of all housing corporations’ renovations. The value of renovations grew by 5.1 per cent compared to 2011.

Viewed by building type, the renovation costs of blocks of flats remained almost at the same level as in 2001, at EUR 900 million. Renovations were directed at old blocks of flats built in the 1970s and older buildings than this. Renovation costs of terraced houses represented approximately one-fifth of all housing companies' renovations. Compared to 2011, the total value of renovations of terraced houses increased by 42 per cent. The renovations were directed at housing companies built in the 1970s and 1980s.

More than 60 per cent of the renovation costs were directed at renovating façades and heating, plumbing and ventilation systems, such as plumbing renewals. Some EUR 400 million were spent on façade renovations, renovations directed at the building's outer casing, balcony renovations, roof repairs, and window and door repairs. Approximately one-fifth of all housing companies' renovation costs were directed at buildings' foundations and interiors, apartments, and electrical systems. Both in blocks of flats and terraced houses, a majority of renovation costs was directed at two main renovation categories; façade and heating, plumbing and ventilation system renovations. In terraced houses, the share of the two main categories of all renovations of terraced houses was around 70 per cent.

Renovations of housing company by object of renovation 2011–2012, percentage value

State-subsidised housing corporations

Renovations to state-subsidised rental dwelling companies were made to the value of approximately EUR 343 million. Compared with 2011, the decrease was 12 per cent. Basic renovations decreased by around one quarter but annual renovations remained at the same level as the year before. In the 2012 data, the basic renovations of the Helsinki metropolitan area are incomplete because one major player is missing from the data. Elsewhere in Finland, the renovation costs of rental buildings decreased by some five per cent.

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

Revisions to Statistics on renovations of housing companies

Revisions have been made to the methodology and data processing for statistics on renovations of housing companies. In connection with the revision, data were calculated with the new method starting from the year 2009 and the previously published data for the years 2009 to 2011 have changed. In future, database tables published with the old method will no longer be updated.

Source: Renovations of housing corporations. Statistics Finland

Inquiries: Kaj Isaksson 09 1734 3633, Atte Lintilä 09 1734 2914, rakennus.suhdanne@stat.fi

Director in charge: Hannele Orjala

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Appendix tables

Updated 13.9.2013

Referencing instructions:

Official Statistics of Finland (OSF): Renovation building [e-publication].
ISSN=1799-2974. Renovation of buildings and apartments 2012. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/kora/2012/01/kora_2012_01_2013-09-13_tie_001_en.html