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Published: 11 November 2015

Owners of dwellings and housing companies renovated with nearly EUR six billion in 2014

According to Statistics Finland, owners of dwellings and housing companies renovated their dwellings to the tune of EUR 5.8 billion in 2014. Combined renovation costs remained unchanged from 2013. EUR 2.7 billion was spent on renovating detached and terraced houses. EUR 2.4 billion was used on renovations to blocks of flats, and EUR 730 million to dwellings in terraced houses. The renovation costs of state-subsidised rental dwelling companies amounted to EUR 420 million in 2014 and to EUR 480 million in 2013.

Most of the renovations to blocks of flats, EUR 1.82 billion, were spent on renovations made by housing companies and the remaining EUR 530 million on own renovations or contracted renovations by owners of dwellings in blocks of flats. Terraced house companies used EUR 430 million on renovations and owners of terraced houses EUR 300 million.

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 2014, EUR million

Structural element	Type of house
	Detached and semi-detached houses	Terraced houses	Blocks of flats	All 2014	All 2013
Damp areas	321	125	178	625	749
Kitchen	221	94	200	516	602
Living and other areas	423	77	154	654	883
Outer surfaces and structures	810	169	642	1 620	1 510
Building technology	556	173	917	1 645	1 496
Yard area and outbuildings	355	51	103	509	352
Indoor areas of the housing company	0	42	160	202	154
Total	2 687	730	2 354	5 771	5 745

Renovation costs relative to the floor area amounted to EUR 46.3 per m² in blocks of flats in 2014. The corresponding cost item was EUR 31.5 per m² in terraced houses and EUR 21.0 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 roof renovation. Eighteen per cent were planning a water supply system renovation and 15 per cent a sewerage system renovation.

Large renovations planned by housing companies, percentage of respondents

Commercial and office buildings were renovated to the value of over EUR 1.5 billion

Statistics Finland has for the first time analysed the renovation costs of commercial and office buildings. In 2014, EUR 910 million were used on renovations to office buildings. The share of commercial buildings in renovations was EUR 670 million. Relative to the floor area, the renovation costs in commercial buildings was EUR 19 per m² and EUR 25 per m² in office buildings.

EUR 1.2 billion were used on renovations to public service buildings in 2014. The renovation costs of public service buildings were calculated based on 2013 costs and granted renovation and expansion permits. It is estimated that around six per cent less was spent on the renovations of public service buildings than in 2013.

Renovation costs of buildings by purpose of use of the building, EUR million

Year	Use of the building
	Commercial buildings	Office buildings	Public service buildings
2013	. 1)	. 1)	1 298
2014	669	910	1 223 2)

1) The renovation costs of commercial and office buildings were analysed for the first time for 2014
2) Estimated based on renovation and expansion permits

Source: Renovation of buildings and apartments. Statistics Finland

Inquiries: Eetu Toivanen 029 551 3331, Atte Lintilä 029 551 2914, rakennus.suhdanne@stat.fi

Director in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Renovation costs relative to floor area by type of building in 2014, EUR per m² (11.11.2015)
• Appendix table 2. Renovation costs of commercial and office buildings (11.11.2015)
• Appendix table 3. Renovation costs of commercial and office buildings relative to the floor area EUR per m² (11.11.2015)
• Appendix table 4. Renovations of residential buildings and dwellings, EUR million (11.11.2015)
• Appendix table 5. Renovation costs of state-subsidised rental dwelling companies, EUR milliont (11.11.2015)

Figures

• Appendix figure 1. Reasons for renovations to dwellings and detached houses, percentage of respondents (11.11.2015)
• Appendix figure 2. Reasons for renovations to housing companies, percentage of respondents (11.11.2015)

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Updated 11.11.2015