Rents to go down for many Heka apartments

Uutta Helsinkiä
Apartment building in Viikki.

The average rent for all apartments owned by the City of Helsinki housing company Helsingin kaupungin asunnot Oy (Heka) will be 0.66 percent higher in 2019 than in 2018. However, the average rent will either go down or remain nearly unchanged for more than half of Heka apartments. The average monthly rent for a Heka apartment will be 11.69 euros per square metre in 2019.

Marked cuts in rents

The average rent will go down markedly in dozens of Heka housing properties, and the rent increases in most others will be modest.

Heka manages 481 housing properties with close to a total of 49,000 units. The average rent will go down in 216 of the properties, and the average rent will go down markedly – by more than 5 percent – in 54 of the properties. The biggest cuts in rent, averaging 6–7 percent, will be seen in 20 Heka housing properties. The average rent will remain nearly unchanged in 39 properties; the change will be from +0.5 to -0.5 percent.

The average rent will go up in 226 Heka housing properties. However, only 85 properties will see rent increases of more than 5 percent. The biggest rent increases will be in properties that have just completed large renovations, resulting in significant improvements in the quality of living. Three Heka properties will see such marked increases in rent, ranging from 8 to 10 percent.

The 2019 rents are the first rents determined with the help of Heka’s new rent equalization plan. Rents are equalized by area and by property on a more equal basis than before. Heka’s rent levels will continue to be reasonable and markedly below the average of all rents in Helsinki.

Heka housing