Keys to housing units hanging on a wall

Rents to increase by 1.4 percent in Heka rental housing of City of Helsinki

Rents in City of Helsinki-owned rental housing managed by the housing company Helsingin kaupungin asunnot Oy (Heka) will go up in 2021 by an average of 1.4 percent from 2020 levels. The median rent of a Heka rental housing unit in 2021 will be 12.00 euros per square metre in a month, up from the median rent of 11.83 euros in the current year. 

The median rents charged by Heka in 2021 will vary from 11.22 to 13.55 euros per square metre in a month depending on the housing district. Median rents will remain almost unchanged in nearly 200 Heka rental housing units. 

The background to the rent increase is general trends in costs and an increase in the total volume of renovations and repairs carried out in Heka housing. 

Rents of Heka rental housing units determined by the absorption principle 

The total rent of a Heka housing unit is determined by the absorption principle, meaning that the rent covers the capital costs incurred from the property and the costs of the property’s maintenance, repairs and management. 

The total costs to Heka determined by the absorption principle are first used to calculate uniform local median rents and, next, to calculate property-specific median rents based on the housing unit’s value as determined by the unit’s location and condition, the type of building, accessories and general quality. 

The rent level of Heka housing units will remain reasonable and continues to be markedly below the average level of rents. 

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Photo: Heka