The Housing Foundation

What The Housing Foundation does

Asuntosäätiö sr (The Housing Foundation) is a Finnish housing foundation founded in 1951 and headquartered in Espoo, providing state-regulated housing solutions to individual households across more than 30 Finnish cities and towns. Its core offering is right-of-occupancy housing (asumisoikeus), a hybrid tenure model in which residents pay a one-time occupancy fee equal to 15% of the apartment's value for lifelong tenancy rights, plus a monthly usage fee covering maintenance and utilities. The foundation supplements this with rental housing (both income/asset-limited and market-rate) and previously delivered price-regulated Hitas owner-occupied apartments in Helsinki, a line discontinued after its final Capella project in June 2025.

The operating model is direct-to-consumer: applicants obtain a national queue number (€9.20, valid two years) issued by Varke (formerly Ara) and submit applications through the company's own OmaAsuntosäätiö online portal or website, with no intermediaries. Technology is conventional — a web portal, Leadoo-based tracking, OP Tunnistus strong authentication, and Suomen Asiakastieto credit checks — rather than AI-driven. Revenue is generated from one-time occupancy fees, recurring monthly usage and rental fees across a portfolio of thousands of units, and rental of commercial premises in owned properties.

In 2025 the foundation executed a record 1,277 apartment renovations across 54 properties, exceeded its 15,902 MWh/a energy target by 146%, and completed or launched multiple new-build projects in Helsinki (Jätkäsaari, Verkkosaari, Vuosaari), Espoo, Tampere, and Järvenpää. The year also brought a full leadership refresh, with Jukka Helminen succeeding Esa Kankainen as CEO alongside new CFO Milla Kalmi and elevated Customer and Real Estate directors. The foundation operates as a group with several subsidiaries, holds Key Flag and Social Enterprise certifications, and was named Developer of the Year 2025 by Rakli.

Name

The Housing Foundation

Legal name

Asuntosäätiö sr

Website

https://asuntosaatio.fi

Company type

Private

Founded year

1951

Operating status

Operating

Headcount range

11–50 employees

Short description

The Housing Foundation (Asuntosäätiö) is a Finnish non-profit housing foundation providing state-regulated right-of-occupancy apartments, rental housing, and formerly Hitas owner-occupied homes to individual households across 30+ Finnish cities, generating revenue through one-time occupancy fees, recurring monthly usage fees, and rental income.

Ownership category

akta.pro rank

Product category

Social Housing Services

NAICS

Lessors of Residential Buildings and Dwellings (53111), Residential Property Managers (531311)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

Keywords

• Right-of-occupancy housing
• Rental apartments
• Affordable housing
• Social housing foundation
• Owner-occupied apartments

Headquarters

HQ city

Espoo

HQ country

Finland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Right-of-occupancy fees (Asumisoikeusmaksu): One-time fee of 15% of apartment value paid by residents to obtain occupancy rights. When residents move out, they receive this payment back adjusted by the building cost index.
2. Monthly usage fees (Käyttövastike): Recurring monthly fees covering housing maintenance costs, property management, water charges, and related services. These fees vary by property and apartment size.
3. Rental income: Revenue from rental apartments with income/asset limits as well as market-rate rental apartments.
4. Owner-occupied apartment sales (Hitas): Sale of Hitas (price-regulated owner-occupied) apartments. The company has completed its final Hitas project as the program was discontinued by Helsinki city council in 2023.
5. Commercial premises: Rental income from commercial premises (liiketilat) in company properties.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

The Housing Foundation (Asuntosäätiö) is a Finnish housing foundation providing right-of-occupancy apartments (asumisoikeus), rental apartments with income/asset limits and market-rate options, and owner-occupied homes across 30+ Finnish cities. The right-of-occupancy model charges residents a one-time 15% occupancy fee plus monthly usage fees for lifelong tenancy, with the occupancy fee returned upon move-out adjusted by the building cost index.

Product overview

Asuntosäätiö is a Finnish housing foundation providing a portfolio of housing solutions: right-of-occupancy housing (asumisoikeus) as its primary offering, supplemented by rental housing (including income/asset-limited and free-market options), and owner-occupied homes including its final Hitas project. The company manages over 30 locations across Finland. Digital services include the OmaAsuntosäätiö extranet portal for resident self-service, Kotikulma for fault reporting, and the Kotimaisema resident magazine. Secondary offerings include building plots, commercial premises, and golf shares at Pickala.

Differentiator

Problem solved

Functional benefit

Products and services

• Asumisoikeusasuminen (Right-of-Occupancy Housing) State-subsidized housing where residents pay a one-time occupancy fee of 15% of apartment value for lifelong tenancy rights. Monthly maintenance fees apply. When moving out, the occupancy fee is returned adjusted by the construction cost index. Available to adults 18+ without existing ownership in the application area who meet wealth limits (those over 55 are exempt from wealth limits).
• Vuokra-asuminen (Rental Housing) Rental apartments available with income/asset limits or free-market pricing. Includes asset-limited, income-limited, and non-subsidized rental homes. Priority given to those with urgent housing needs and lower incomes.
• Omistusasunnot (Owner-Occupied Homes) Owner-occupied apartments, including Hitas (price-regulated ownership apartments) and free-market units. The final Hitas project was completed in 2025.
• Uudiskohteet (New Build Projects) New construction projects for right-of-occupancy, rental, and owner-occupied housing across 30+ locations in Finland.
• Hitas (Price-Regulated Ownership Housing) Price-regulated owner-occupied apartments in Helsinki. Final project completed in Verkkosaari in 2025 as Helsinki City decided to discontinue the Hitas system.
• Liiketilat (Commercial Premises) Commercial retail spaces available for rent in properties owned by Asuntosäätiö.
• Tontit (Building Plots) Land plots available for purchase for residential construction.
• OmaAsuntosäätiö (Customer Extranet Portal) Online self-service portal for residents to manage housing matters, submit fault reports, make payments, and access services 24/7. Requires strong electronic identification via OP Tunnistus.
• Pickalan Golf Shares Golf share offerings at Pickala for residents and stakeholders.

Quantifiable outcome

• Energy efficiency target exceeded by 146%, achieving 23,218 MWh/a total savings over 2017-2025.
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature2 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• A-KruunucoreStrategic or Co-development Partner · 15 January 2025Joint development partner for 'Vihreistä vihrein' (Greener than Green) residential project in Helsinki Vuosaari, Ensi parvi 3 and 5. Project includes balcony gardening, vegetative roofs, and research cooperation with University of Helsinki.
• Varke (formerly Ara - Centre for State-Subsidised Housing Construction)coreStrategic or Co-development PartnerNational partner managing the queue number system for right-of-occupancy apartments. Varke maintains the national queue number registry and issues queue numbers (€9.20 each, valid 2 years) used for all right-of-occupancy applications nationwide. This is a fundamental partnership as queue numbers are required for all right-of-occupancy applications.
• YIT Suomi OyminorOthersConstruction company engaged for building the Jätkäsaari project (82 apartments, 6-8 story building completed 2025).
• SRVminorOthersConstruction partner for development projects including Espoo Espoonlahti 8-story right-of-occupancy building (estimated completion fall 2026).
• Hartela Etelä-Suomi OyminorOthersConstruction partner for Espoo Suurpelto townhouse project (24 apartments, completion spring 2026) and Tampere Hervanta project.
• Jatke OyminorOthersConstruction company for Helsinki Verkkosaari Verkkoneula 4 project (38 apartments).
• Arkta ReponenminorOthersDeveloper and KVR-contractor (general contracting) for the Viherkortteli (Green Block) project in Vuosaari.
• KeskuskauppakamariminorOthersExternal partner maintaining the whistleblowing channel (Ilmoituskanava). Service is completely separate from Asuntosäätiö's IT systems, guaranteeing anonymity.
• OP Financial GroupminorOthersOP identification service used for strong electronic authentication in OmaAsuntosäätiö portal. Part of national trust network based on OIDC protocol.
• Bayer OyminorOthersJoint DEI (Diversity, Equity, Inclusion) and Pride event organizer. Both companies share the same office building in Espoo.
• Arkkitehdit NRT OyminorOthersArchitecture firm responsible for Helsinki Jätkäsaari Atlantinkatu project design.
• Laitila Arkkitehdit OyminorOthersArchitecture firm for Tampere Bäckströminkatu project design.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• SATO Oyj: One of Finland's largest rental housing providers with a portfolio of VVO/SATO-merged assets offering both rental and owner-occupied housing. Directly comparable business model (rental + ownership-style housing) operating in the same Finnish urban markets as Asuntosäätiö.
• TA-Yhtiöt (TA-Asumisoikeus Oy): One of the other major Finnish right-of-occupancy (asumisoikeus) housing providers. Operates within the same state-regulated asumisoikeus framework as Asuntosäätiö with comparable product offering and tenant base.
• A-Kruunu Oy: Finnish state-subsidized rental housing provider focused on the Helsinki metropolitan area. Strategic partner on the 'Greener than Green' Vuosaari project; operates in the same regulated affordable-housing category with overlapping target tenants.
• Heka (Helsinki City Housing): Municipal housing company owned by the City of Helsinki, managing ~50,000 rental apartments. Directly comparable as a regulated affordable rental provider serving the same Helsinki-area demand pool as Asuntosäätiö.
• Avain Asumisoikeus Oy: Another licensed Finnish right-of-occupancy housing provider operating in the asumisoikeus framework. Smaller scale than Asuntosäätiö but directly comparable product, regulation, and customer segment.
• M2-Kodit Oy: Finnish rental housing operator (formerly YH Kodit) with rental portfolios across Finnish growth centers including Helsinki, Tampere, and Turku. Comparable operating model and tenant profile in the regulated affordable rental segment.
• Setlementtiasunnot Oy: Finnish social-purpose rental housing provider operating in Helsinki metro area with a comparable foundation/social-enterprise mission structure to Asuntosäätiö.

Broad incumbents

• Kojamo Oyj (Lumo): Finland's largest listed residential rental company (Lumo brand) with a portfolio of ~40,000 apartments. Operates in the same urban Finnish markets at much larger scale but focuses on free-market rental rather than subsidized/asumisoikeus housing.
• Citycon Oyj: Listed Finnish/Nordic retail and mixed-use real estate owner. Comparable only at the level of Finnish urban real estate exposure and scale of operations; not a direct housing competitor.

Emerging players

• Orava Residential REIT: Finnish listed residential REIT investing in rental and right-of-occupancy housing. Comparable tenant base and Finnish urban housing focus but operates as a capital-markets vehicle rather than a foundation operator.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/asuntosaatio
• LinkedInlinkedin.com/company/asuntosaatio
• Instagraminstagram.com/asuntosaatio

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

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 The Housing Foundation