Housing investments
in growth centres

Our goal is to start the construction of a minimum of 1,000 new apartments each year and to increase the number of apartments by acquiring old housing stock, too. In 2015, VVO Group decided to invest approximately EUR 300 million in new construction, housing acquisitions, and repairs and renovations.

There were more new development start-ups than in the previous year, mainly in the Helsinki Metropolitan Area. During the financial year, VVO launched the development of 798 new Lumo apartments. At the end of the year, 1,189 privately financed rental apartments were under construction.

VVO Group’s divestments largely took place in municipalities where demand for rental housing is expected to decrease in the long term. VVO sold a total of 458 apartments during 2015.

The Group spent a total of EUR 92.3 million on repairs and renovations during 2015.