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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

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)

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Appendix tables

• Appendix table 1. Renovation costs relative to floor area by type of building in 2015, EUR per m² (29.8.2016)
• Appendix table 2. Renovation costs of commercial, office and industrial buildings and warehouses (29.8.2016)
• Appendix table 3. Renovations of residential buildings and dwellings, EUR million (29.8.2016)
• Appendix table 4. Renovation costs of state-subsidised rental dwelling companies, EUR million (29.8.2016)

Figures

• Appendix figure 1. Reasons for renovations to dwellings and detached houses, percentage of respondents (29.8.2016)
• Appendix figure 2. Reasons for renovations to housing companies, percentage of respondents (29.8.2016)

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Updated 29.8.2016