SATO data reveals: Rental housing season this year kicked off as early as March – July is the most popular month for seeking a rental home
8 June 2022
The highest number of rental applications are received in July, and it is not only students applying then. This year, demand for rental housing picked up already in the spring. In the post-pandemic era, both centrally located homes and homes in more outlying districts are again in demand in the Helsinki region.
According to SATO’s client and property data system, year after year the highest number of applications for rental homes are submitted in July*. The summer months are the busiest in rental housing, and it is not only students but also others** dreaming of a new rental home who are active in July.
Economic uncertainty and the rise in consumer prices and interest rates are to some extent reflected also in the rising demand for rental housing. Renting may now well be among the options considered also by those who are primarily out to buy. This year, students further along in their studies may be expected to join first-year students in seeking rental housing in their towns of study.
“The demand for rental housing pent up during the pandemic is now being unleashed. For us, it shows in the form of rising numbers of home applicants even before the usual summer-months spike,” says Janne Ojalehto, Chief Commercial Officer at SATO.
Your rental home search should start already in June
SATO is one of Finland’s biggest rental housing providers. With its years of experience, SATO knows that the highest number of decisions on housing are made expressly in July.
“People like to take their time to think over their housing situations, and the summer holidays often give them that time to think at leisure,” Ojalehto says.
“Right now, in the early summer, before the largest numbers of applicants are on the move, is the best time to start looking for a rental home,” he adds.
Renewed interest in centrally located and more outlying homes in cities
While the pandemic along with the increased prevalence of remote working and studying to some extent shifted rental housing demand towards larger homes and areas where rents are lower, the early part of the year has seen renewed interest in homes in the Helsinki region, both centrally located and ones in more outlying districts.
“For rental home applicants, too, it is mainly all about ‘location, location, location’. Rental homes with good access to public transport and services are in demand. Especially desirable are homes located along the metro lines and railway lines,” Ojalehto says.
SATO’s most sought-after districts in the Helsinki region ***
The ten most popular city districts based on number of rental home applications in relation to to the available rental apartments, status 6 June 2022, source: SATO client and property data system
1. Mellunkylä, Helsinki
2. Pikku Huopalahti, Helsinki
3. Kontula, Helsinki
4. Herttoniemi, Helsinki
5. Vuosaari, Helsinki
6. Matinkylä, Helsinki
7. Kallio, Helsinki
8. Oulunkylä, Helsinki
9. Hakunila, Vantaa
10. Pihlajamäki, Helsinki
* Graph: Applications for SATO rental homes, index 10/2017-09/2021 and 01/2022-05/2022, source: SATO client and property data system
** The primary occupations of the applicants in July from 2018 to 2021, source: SATO client and property data system: The number of students among all applicants is 35% higher in July compared to the other months of the year. Employees are still clearly the largest group of applicants also in July. Students are the second largest group.
*** SATO’s most sought-after districts in the Helsinki region, based on number of rental home applications in relation to to the available rental apartments, status 6 July 2022, source: SATO client and property data system
For media enquiries, please contact:
Janne Ojalehto, Chief Commercial Officer, phone +358 50 500 4310
janne.ojalehto@sato.fi
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 2021, SATO Group’s net sales totalled EUR 298.3 million, operating profit EUR 304.5 million and profit before taxes EUR 259.4 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi
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