We are making significant investments in increasing its supply of Lumo apartments by developing new residential properties and buying existing housing stock.
The Group intends to build a significant number of new rental apartments by the end of 2021 in areas where labour demand is set to increase. We want to make it easier for people to move to growth centres in pursuit of employment, thereby contributing to stimulating the Finnish economy. New housing services and flexible rental housing play a key role in improving the mobility of the workforce. Urbanisation and migration to growth centres provides Kojamo Group with good growth opportunities in the Finnish rental housing market.
Urbanisation and immigration contribute to higher demand
In Finland’s growth centres, particularly in the Helsinki Metropolitan Area, the demand for housing exceeds supply by a considerable margin, with studios and one-bedroom units seeing the strongest demand. People want housing that is safe, flexible and convenient. As urbanisation continues apace and people move into growth centres in pursuit of jobs, the demand for rental properties is increasing. This is additionally compounded by Finland becoming more international and attracting increasing levels of inward migration.