Middle of summer peak period for rental housing applications – SATO lists most popular neighbourhoods

SATO Corporation
Press release 14 June 2023 at 9.50 am

Year after year, the summer is the most popular time for people to apply for a rental home, and this does not only mean students, SATO data shows. Economic uncertainty has also brought homeowners to the rental housing market.

The most popular period for rental housing applications has begun, according to data from the customer and property information system of SATO, one of Finland’s largest rental housing providers. The summer’s highest application peak is in July, but the early summer already sees a clear upward trend in the number of apartment applications. As is the case for the rest of the year, employed persons are the largest group of applicants, although in July the share of students among the total grows by more than a third.

“It’s often thought that in the summer it’s mainly students applying for apartments. The summer is, however, a natural time for change for many others too, whether it’s change in family size, a new job or some other change in their life situation. In the summer, people also often have more time to consider their needs and options,” says SATO Chief Commercial Officer Laura Laamanen.

Rental market now also attracting homeowners

In the summer, there is an emphasis on young applicants among people applying for a rental home. Many move into their first own home after graduation or want to live closer to work or studies. Families with children also look for a new home in the summer, as it’s during the summer months that most babies are born.”

At the moment, there are also people hoping to buy a home looking at the rental market. The surge in home loan interest costs and the increase in other housing costs have made some homeowners consider renting a home. In uncertain times, renting a home from a reliable rental housing provider may bring security to everyday life. Unlike when owning a home, there are no unexpected costs as, for example, heating is included in the rent. With SATO, you always know your rent for around one year ahead, so you can anticipate your housing costs over a long period of time.

“Now it’s a good time to set up the search alert and apply for a new home so that you will find the one that’s perfect for you. There are often many others also interested in the same property, so it makes sense to get started early enough,” Laamanen says.

Supply of new homes still high this year

There is a good supply of rental homes available in growth centres, and those looking for a place to rent have plenty of choice right now. Projects started in 2021–22 will still keep the supply of new homes at a high level in the Helsinki Metropolitan Area this year. The industry-wide volume of new construction projects commenced is, however, at a historically low level, and the supply of new rental homes will decrease over the years ahead **. Several newly constructed as well as fully renovated properties have already been or will be completed this year for SATO, too.

“This spring has seen the completion of fully renovated rental homes in central and sought-after locations including Helsinki’s Töölö and Etelä-Haaga districts as well as new rental homes in areas such as Leppävaara, Kivistö and Oulunkylä. New buildings have also been completed in Hervantajärvi, Tampere, and new rental homes in Skanssi, Turku, will be ready to move into in the autumn. This summer, you have excellent opportunities to find your dream home,” Laamanen points out.

SATO’s most popular residential areas in the Helsinki Metropolitan Area

SATO’s most popular areas in the Helsinki Metropolitan Area vary, but certain areas remain in favour year after year. SATO homes have access to good transport connections, but the location also relates to your own sphere of life, such as your workplace, school and leisure activities.

“One of the ever-popular districts is Kontula. It’s a good example of an old neighbourhood that’s also been discovered by new residents. It’s diverse, lively and close to nature and therefore suitable for many,” Laamanen says.

SATO’s most popular neighbourhoods – these are the areas topping the searches

Number of rental housing applications in relation to apartments available to rent, situation on 9 June 2023, source: SATO customer and property information system

Helsinki Metropolitan Area

1. Pohjois-Haaga, Helsinki
2. Arabianranta, Helsinki
3. Tapulikaupunki, Helsinki
4. Kontula, Helsinki
5. Saunalahti, Espoo
6. Asola, Vantaa
7. Herttoniemi, Helsinki
8. Kallio, Helsinki
9. Pikku Huopalahti, Helsinki
10. Viikki, Helsinki

Tampere

1. Kaleva
2. Härmälänranta
3. Vuores

Turku

1. Martti
2. Länsikeskus
3. Varissuo

For media enquiries, please contact: 

SATO Corporation, Laura Laamanen, Chief Commercial Officer, phone +358 400 312 612, laura.laamanen@sato.fi

*Largest number of babies born in the middle of summer – THL

**Economic cycle in construction beginning to bottom out – Confederation of Finnish Construction Industries RT

SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.

SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.

In 2022, SATO Group’s net sales totalled EUR 291.2 million, operating profit EUR 198.9 million and profit before taxes EUR 151.9 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi