Effects of the COVID-19 pandemic on Kojamo

Kojamo takes the coronavirus seriously and is committed to looking after the health and well-being of the Group’s employees, customers and partners. Kojamo monitors the recommendations issued by the authorities and complies with them. The pandemic did not have a significant impact on the Group’s profit, balance sheet or cash flow during the review period 2021. Kojamo’s financial position and liquidity are good.

The pandemic has had an impact on the housing market and the operating environment. The supply of rental apartments has increased temporarily in the market. Due to the restrictions on travel, apartments intended for short-term rentals switched to long-term leases. Work-related immigration slowed down and students, for example, temporarily moved in with their parents, while foreign students returned to their home countries. These factors have had a substantial effect on the Group’s financial occupancy rate.

The prolongation of the pandemic could have impacts on the housing market and property market, including apartment prices, rents and yield requirements as well as on the operations of the construction companies.

Read also more, how the effects of COVID-19 pandemic have been taken into consideration in Kojamo’s outlook and near-term risks and uncertainties.

Page updated 17 February 2022