Finnish housing portfolio and renovation costs. It would be good to get confirmation on whether the housing company’s renovation costs are accounted for before or after net rental yields. In Finland, 45% of apartments were built in the 70s and 80s. If a comprehensive building services renovation (LVIS) is carried out, the cost is perhaps €700–900/m2. As an individual apartment owner in Asuntosalkku, it is difficult (and there is no time) to influence the renovation. 800 €/m2 x 54277 m2*45% = 19.5 m€. Other renovations (facade, roof, windows, geothermal heat, elevator, etc.) on top.