VVO Group plc offers rental apartments and housing services in Finnish growth centres. The fair value of investment properties at the end of the review period was EUR 4.3 billion, including EUR 70.6 million classified into non-current assets held for sale. At the end of the review period, VVO Group owned 34,974 rental apartments.
The rental housing business is characterised by stability and predictability, which provide a good foundation for development.
VVO Group rents out apartments mainly under the market-based Lumo brand. The range of services related to the Lumo apartments is extensive and the services are constantly being developed. During the review period, the average rent for the 30,823 market-based Lumo apartments was EUR 14.44 per sq m per month. The average rent for Lumo apartments is increased by the renewal of the property portfolio due to strong investment activities. During the review period, the average rent for the 4,151 apartments rented at cost price (VVO) was EUR 12.88 per sq m per month.