Housing stock companies experienced a 10% increase in management fees last year, with economist Juhana Brotherus noting that the most money was ever spent on apartment repairs. In addition, medical expenses rose by 2.5%, and maintenance fees increased by almost ten percent, averaging €4.22 per square meter of apartment per month.
The growth of companies’ capital consideration and interest expenses was greater than in the previous 14 years, with capital consideration growing by almost 46% and interest expenses almost tripling. Despite this growth, the biggest increase in fees has now passed, according to Brotherus, and the atmosphere at spring-summer general meetings is calmer.
Land rents rose proportionally the most among the maintenance costs of housing companies, while repair costs decreased by 11.4%. Land rents, cleaning costs, and heating costs saw the most significant increase in apartment building maintenance costs, while savings were made in maintenance costs for outdoor areas.
Owner-occupiers spent an average of over €3,600 per apartment on renovations last year, a 2.7% increase from the previous year. This spending is expected to continue due to potential changes in value added tax and household deductions. According to Statistics Finland’s survey, one in five housing associations is planning a roof renovation, while about one in seven is considering starting a pipe renovation within the next ten years. Constant repairs are essential for houses, providing relief especially to SMEs facing challenges in new construction projects as noted by Brotherus.
