Helsinki City Apartments

What Helsinki City Apartments does

Heka (Helsingin kaupungin asunnot Oy, trading as Helsinki City Apartments) is a non-profit municipal housing company wholly owned by the City of Helsinki. It manages approximately 55,000 rental apartments across Helsinki, housing over 96,000 residents — roughly one in seven Helsinkiläiset. The portfolio spans studios through large family apartments, with a specialized subset of ~3,000 units across 44 sites allocated to seniors, persons with disabilities, rehabilitation patients, and homeless individuals in cooperation with the City's Social and Health Services division.

The company's core product is monthly residential rental housing, priced at 'reasonable' (kohtuuhintainen) levels determined by property management costs rather than market dynamics. Rent harmonization updates contract terms without raising rents. Supporting digital infrastructure includes the OmaHeka resident portal (for rent information, contact updates, maintenance requests, and customer-service messaging) and the Helppi AI chatbot, which serves general housing inquiries from public-website content. Additional revenue streams include street-level commercial premises (leased through the City of Helsinki Facility Service and Oikotie), and add-on services such as parking, sauna reservations, laundry room bookings, and celebration flags.

Customer acquisition occurs through the City of Helsinki's centralized housing application system, which allocates units based on need and urgency. Heka also operates an internal apartment exchange system for existing tenants and runs open-application periods for new construction. Tenant support is a structural feature of the operating model: housing advisors, conflict resolution services, and an active referral network with Kela (housing allowances), Takuusäätiö (debt counseling), and Ohjaamo (youth support) work to maintain housing stability and prevent evictions. As a municipal entity, Heka is not venture-backed and does not pursue profit maximization; strategic decisions are governed by the City of Helsinki's housing policy objectives.

Name

Helsinki City Apartments

Legal name

Helsingin kaupungin asunnot Oy

Website

https://hekaoy.fi

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Heka (Helsinki City Apartments) is a non-profit municipal housing company wholly owned by the City of Helsinki, managing approximately 55,000 rental apartments that house over 96,000 Helsinki residents across general, senior, and special-needs segments, supported by the OmaHeka digital portal and an AI-based Helppi chatbot.

Ownership category

akta.pro rank

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Residential Rental Income: Monthly rental income from approximately 55,000 apartments across Helsinki, with rent due on the 4th of each month. Rent levels are determined based on property management costs and are described as reasonable. Water may or may not be included in rent depending on the specific lease agreement.
2. Business Premises Leasing: Leasing of street-level commercial spaces in residential buildings to entrepreneurs. Managed by City of Helsinki Facility Service. Typical security deposit is three months' total rent.

Pricing tiers

Distribution channels3 records

Marketing channels3 records

Core offering

Heka (Helsingin kaupungin asunnot Oy) operates approximately 55,000 rental apartments across Helsinki, housing over 96,000 residents with a portfolio ranging from studios to large family apartments. The company provides affordable long-term rental housing managed through the City of Helsinki's housing application system, complemented by senior apartments, special housing for persons with disabilities and vulnerable groups, street-level business premises, and supporting services such as parking, sauna, and housing consultation.

Product overview

Heka (Helsinki City Apartments) operates approximately 55,000 rental apartments across Helsinki, housing over 96,000 residents—roughly one in seven Helsinki residents. The company provides diverse housing options ranging from studios to large family apartments, complemented by specialized offerings including senior apartments and special housing for vulnerable populations. Core housing services are supported by the OmaHeka digital resident portal for online transactions, housing consultation support services, and additional paid services such as parking and sauna reservations. The company also manages commercial business premises in their buildings.

Differentiator

Problem solved

Functional benefit

Products and services

• Heka Rental Apartments
• Senior Apartments

Quantifiable outcome

• Approximately 96,000 Helsinki residents housed (1 in 7 Helsinkiläiset)
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• City of Helsinki Social and Health Services (Sosiaali- ja terveyspalvelut)coreStrategic or Co-development PartnerHeka collaborates with Helsinki's Social and Health Services sector for special housing. The City selects tenants for approximately 3,000 special housing units across 44 sites. Heka owns and maintains these properties while the City manages tenant selection for these specialized facilities serving elderly, disabled, rehabilitation, and homeless populations.
• City of Helsinki Housing Advisors (Helsingin kaupungin asumisneuvojat)coreStrategic or Co-development PartnerHelsinki City housing advisors work in cooperation with Heka to provide free housing consultation services to Heka residents. These trained professionals help residents facing difficulties with housing-related issues including accumulated rent debts or challenges managing their apartments.
• Data Protection OmbudsmanminorOthersFinnish supervisory authority for data protection. Residents can file complaints regarding Heka's data processing to the Data Protection Ombudsman if they believe data protection legislation has been violated.
• City of Helsinki Facility ServicecoreChannel Partner/ Reseller/ DistributorThe City of Helsinki Facility Service manages leasing of business premises in Heka's buildings. Entrepreneurs find available spaces through the Oikotie service and contact leasing negotiators directly for showings, rent negotiations, and practical matters.
• Oikotie (Commercial Property Service)minorChannel Partner/ Reseller/ DistributorOikotie is the commercial property listing platform where available business premises in Heka buildings are advertised. Entrepreneurs use this service to find and inquire about available spaces.
• Finnish Transport and Communications Agency TraficomminorOthersFinnish regulatory authority for digital accessibility supervision. Residents can submit complaints about website accessibility issues to Traficom if they are not satisfied with Heka's response.
• Kela (Social Insurance Institution of Finland)coreStrategic or Co-development PartnerHeka refers residents with payment difficulties to Kela for potential housing allowance or income support. Kela provides calculators to determine eligibility for general housing allowance and accepts applications through their website.
• Takuusäätiö (Guarantee Foundation)coreStrategic or Co-development PartnerHeka refers residents with persistent financial difficulties to Takuusäätiö for free and confidential advice on financial matters and payment issues, including general debt counseling and small loans. Residents can start with anonymous chat service.
• Ohjaamo (Youth Guidance Centers)coreStrategic or Co-development PartnerHeka refers young adult residents (under 30) with housing or payment issues to Ohjaamo, which provides free help, information, and support on housing, education, wellbeing, and employment. Services available without appointment, including via Discord.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• SATO Oyj: Finnish rental-housing company operating thousands of apartments primarily in the Helsinki metropolitan area. Most direct comparable: same geography (Finland/Helsinki), same business model (long-term residential rental), and directly competing for the same rental pool.
• Kojamo Oyj: Finland's largest listed residential rental property investor focused on the Helsinki metropolitan area and other Finnish growth centers. Closely comparable business model and target segment, with publicly disclosed financials that benchmark against Heka's scale and operations.
• A-Kruunu Oy: Finnish public-interest housing company producing affordable rental housing for municipalities, with similar government-aligned ownership and mission. Highly relevant due to parallel operational model and Finnish public-housing positioning.
• Heimstaden AB: Major European residential property owner with significant Nordic exposure including Sweden, Denmark, and the Czech Republic. Comparable scale and rental-residential focus across multiple Nordic markets, though privately/commercially owned rather than municipal.
• Akelius Residential AB: Swedish residential property company owning apartments across major European cities including Germany and Scandinavia. Compares on rental-residential business model and Nordic operating geography, though commercially rather than municipally owned.
• Sweden's Micasa Fastigheter: City of Stockholm-owned company managing special housing for the elderly and people with disabilities in Stockholm. Closely mirrors Heka's special-housing segment (3,000 units across 44 sites for vulnerable populations), making it a tight functional comparable.
• Y-Säätiö (Y-Foundation): Finnish non-profit providing affordable rental housing across multiple Finnish cities, focused on vulnerable populations including homeless individuals and refugees. Comparable Finland-based affordable-housing model with social-objective ownership structure.

Broad incumbents

• Stockholmshem: City of Stockholm's municipal housing company operating ~80,000 apartments in Stockholm, Sweden. Direct counterpart in the Nordic public-housing model — same ownership structure (municipally owned), same social mandate, and highly comparable scale to Heka.
• Stockholms Bostadsförmedling / MKB Fastighets AB: Municipal housing operator in Stockholm owned by the City of Stockholm, managing ~25,000 apartments with an affordability and social-housing mandate. Functions as a Nordic municipal-housing analogue to Heka in a different Swedish geography.
• Vonovia SE: Europe's largest residential real-estate company managing ~540,000 apartments primarily across Germany. Comparable at scale on long-term residential rental operations and tenant-services provisioning, though serving a different national market with private ownership.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/hekaoy

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Helsinki City Apartments