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Published: 2 July 2021

Owners of dwellings and housing companies renovated with EUR 6.4 billion in 2020

According to Statistics Finland, owners of dwellings and housing companies renovated their dwellings and residential buildings to the tune of EUR 6.4 billion in 2020. The amount of money spent on renovations went up by 6.2 per cent from the level of 2019. Growth was especially recorded in the renovations directed at terraced houses and detached and semi-detached houses. EUR 3.2 billion were spent on renovating detached and semi-detached houses. EUR 2.4 billion were used on renovations to blocks of flats, and EUR 810 million to terraced houses.

Most of the renovations to blocks of flats, EUR 1.9 billion, were spent on renovations made by housing companies and the remaining EUR 500 million on self-made or contracted renovations by owners of dwellings in blocks of flats. Terraced house companies used EUR 500 million on renovations and owners of dwellings in terraced houses EUR 310 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 by type of house and structural element in 2020, EUR million

Structural element	Type of house
	Detached and semi-detached houses	Terraced houses	Blocks of flats	All 2020	All 2019	All 2018	All 2017	All 2016	All 2015	All 2014	All 2013
Damp areas	473	142	183	797	797	902	788	918	847	625	749
Kitchen	348	102	135	584	447	760	582	568	585	516	602
Living and other areas	361	71	187	620	451	596	506	657	664	654	883
Outer surfaces and structures	728	249	643	1 620	1 685	1 655	1 787	2 037	1 846	1 620	1 510
Building technology	844	138	962	1 944	1 827	1 661	1 791	1 762	1 518	1 645	1 496
Yard area and outbuildings	432	58	126	615	575	494	540	486	580	509	352
Indoor areas of the housing company	..	55	181	236	256	240	219	192	226	202	154
Total	3 184	814	2 417	6 415	6 039	6 307	6 213	6 622	6 266	5 771	5 745

Renovation costs relative to the floor area amounted to EUR 43.9 per m² in blocks of flats in 2019. The corresponding cost item was EUR 31.7 per m² in terraced houses and EUR 23.5 per m² in detached houses.

Housing companies were asked about large renovations planned for the next ten years. Nearly 18 per cent of the housing companies that answered the question were planning a roof, façade and yard area renovation. Fifteen per cent were planning a water supply system renovation. Approximately 13 per cent of the companies in question were planning a heating system and sewerage system renovation.

Large renovations planned by housing companies, percentage of respondents

The renovation costs of state-subsidised rental dwelling companies amounted to EUR 506 million in 2020 and to EUR 448 million one year earlier.

Source: Renovations of apartments and residential buildings, Statistics Finland

Inquiries: Eetu Toivanen 029 551 3331, Liina Arhosalo 029 551 3612, rakennus.suhdanne@stat.fi

Head of Department in charge: Hannele Orjala

Publication in pdf-format (230.3 kB)

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Appendix tables

• Appendix table 1. Renovation costs relative to floor area by type of building in 2020, EUR per m² (2.7.2021)
• Appendix table 2. Renovation costs of state-subsidised rental dwelling companies, EUR million (2.7.2021)

Figures

• Appendix figure 1. Reasons for renovations to dwellings and detached houses, percentage of respondents (2.7.2021)
• Appendix figure 2. Reasons for renovations to housing companies, percentage of respondents (2.7.2021)

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Updated 2.7.2021