Helsinki
Helsinki

Helsinki

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Population (AI)

658,864

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Last edited
Oct 2, 2024 10:30 AM
Category
CapitalPrio-25
Local programs

The city of Helsinki has several targets and initiatives aimed at promoting affordable and sustainable housing: 1. **Affordable Housing**: - **Subsidized Housing**: Helsinki offers subsidized ARA housing, which is among the most affordable in Finland, particularly benefiting the most disadvantaged groups. - **Housing Construction**: The city aims to increase housing construction, with a focus on affordable housing. For example, in 2021, Helsinki reached its annual target of 7,000 new homes. - **Suburban Regeneration**: Helsinki implements a suburban regeneration model to improve existing residential areas, making them more attractive and affordable. 2. **Sustainable Housing**: - **Energy Efficiency**: Helsinki promotes energy-efficient housing solutions, such as geothermal energy, which lowers running costs and benefits tenants. - **Sustainable Construction**: The city has set a binding maximum value for CO2 emissions in the whole lifecycle of residential buildings, influencing the building industry and materials used. - **Green Finance**: Finnish affordable social housing organizations, including those in Helsinki, increasingly use green finance for sustainable construction projects, with a focus on energy efficiency and social benefits. 3. **Collaboration with National Programs**: - **National Housing Policy**: Helsinki works in line with Finland’s national housing policy, which includes increasing housing construction in growing cities and promoting sustainable construction. - **Funding Mechanisms**: The city collaborates with national organizations like MuniFin, which provides green and social finance loans for affordable social housing projects, ensuring long-term sustainability and affordability.

Housing Market

**Summary of Helsinki's Housing Market:** Helsinki's housing market has been significantly impacted by rising interest rates, leading to a standstill in sales and a drop in prices. As of February 2024, prices of existing dwellings were more than 10% below their summer 2022 peak, with a larger fall observed in Helsinki. Despite this, forecasts suggest a gradual recovery in 2024, driven by falling interest rates and improved employment. - **Housing Units:** The total number of housing units in Helsinki is not specified in the provided sources. - **Ownership vs. Rental:** Specific figures on the number of renters and homeowners are not available in the provided sources. - **Median Price per sqm:** - **To Buy:** Approximately €6,960 per square meter. - **To Rent:** Not directly provided, but the property price-to-rent ratio is 32.75, indicating it would take 33 years of paying rent to own a property. - **Public, Social, and Cooperative Housing:** - **Role:** These sectors play a crucial role in providing affordable housing options and combating segregation through diversified housing policies. - **Share:** Specific shares of the housing market are not provided in the sources. The market is expected to see an uptick in activity and a modest increase in prices of old condominiums by 0.5% nationwide, with regional variations. The demand for rental housing is growing, particularly for state-subsidized (ARA) apartments, with rents expected to rise by 5%.

Further Actors?

In Helsinki, various stakeholders are contributing to the mission of building more affordable and sustainable housing. Here are some potential conversation partners and collaborators across different sectors: 1. **Academic Institutions**: - Aalto University, which has collaborated on projects like the Generations Block. 2. **NGOs**: - The Y-Foundation, aiming to end homelessness by increasing affordable rental housing. - Setlementtiasunnot, involved in projects like the Generations Block. 3. **Local Administration**: - Helsinki City Hall, implementing policies like the "Home Town Helsinki" and the "Hitas" system to foster affordable housing. - The Housing Finance and Development Centre of Finland (ARA), overseeing affordable social housing projects and ensuring quality and sustainability. 4. **Impact Investors**: - MuniFin, providing interest subsidy loans for affordable housing projects. 5. **Real Estate Developers**: - Companies like Karmod, specializing in modular and prefab housing solutions. 6. **Architecture Firms**: - Firms involved in sustainable and innovative housing projects, such as those participating in the Generations Block. 7. **Housing Cooperatives**: - Organizations like Hoas, contributing to mixed-tenure neighborhoods and community-oriented housing projects. These stakeholders are crucial in addressing the need for affordable and sustainable housing in Helsinki, offering a range of perspectives and expertise.

Cooperatives

In Helsinki, housing cooperatives play a limited but growing role in the city's housing landscape. Unlike other Nordic countries, Finland has historically had fewer housing cooperatives, but recent initiatives aim to promote this model. The Finnish government, through the Housing Finance and Development Centre of Finland (ARA), has initiated a pilot project for social housing cooperatives since 2016, with ten projects selected to participate. Helsinki has seen the emergence of new housing cooperatives, such as resident-led and developer-led models, which focus on intergenerational and special needs housing. For example, Project B in Kruunuvuorenranta encourages collaboration between different generations and special needs groups, while Project C adopts a two-tiered governance structure. The city promotes cooperative housing through various programs and activities, including the International Social Housing Festival 2022, which highlighted the role of social, public, and cooperative housing in achieving sustainable living. Additionally, workshops like the one organized by the UfM Secretariat and Housing Europe have explored the potential of housing cooperatives as a sustainable model for European and Mediterranean countries. While specific data on the market share and number of cooperatives in Helsinki is not readily available, these initiatives indicate a growing interest in cooperative housing models in the city. Lighthouse projects, such as those presented during the International Social Housing Festival, serve as examples of innovative cooperative housing solutions.