People and society

Sustainable housing in a sustainable society.

We make a difference every day

Every day, we ensure that the tenants in our nearly 17,500 apartments have what they need to be safe and comfortable in daily life, including functional and pleasant apartments, buildings and outdoor areas. We aim for the best possible customer experience in the different stages of housing and do our best to ensure that the homes of our tenants are the best places in the world for them.

Measured by the value and number of apartments managed, Avara is among Finland’s largest players in the field of real estate investment. With our new construction projects and our service procurement, we have an impact on local well-being and employment. Avara Oy and the real estate investment portfolios it manages are domiciled in Finland.

Avara-Vuokra-asuminen

€ 10.5 M

Tax footprint

1,148

Apartments completed or under construction at the end of 2020

30 000

Tenants

67 %

Proportion of local procurement

Making homes the best places in our lives

Satisfied tenants are our highest priority. We strive to continuously develop our services to provide the best possible housing experience for the people living in Avara apartments. Avara monitors the satisfaction of its rental housing customers and their perceptions of Avara’s services during the various stages of housing.

The safety and comfort of the residential environment are essential aspects of the tenant experience. The quality of outdoor areas and playgrounds is indeed monitored annually and the property maintenance function ensures that daily life goes smoothly. Tenant feedback plays an important role in the development of comfortable and safe residential environments.

Avara-Kiinteistoalan-Ammattilaisia

Results

  • Overall tenant satisfaction 8.6 (target 31.5) The renewal of Avara’s operational system in 2020 lowered tenant satisfaction temporarily.

  • The Playcare index is better than among the control group (32.2/40.0).

Affordable housing for growth centres

In addition to non-subsidised housing, Avara also promotes affordable housing in Finland’s growth centres, thereby contributing to relieving the shortage of housing in the growth centres. The provision of affordable housing supports employment-based migration and offers choices to people in all life situations and income and asset classes.

Avara’s current and planned structure of real estate funds takes into account future demand for affordable housing and non-subsidised apartments.

Results

  • Affordable apartments accounted for approximately 60 per cent of the residential real estate assets managed by Avara.

  • Some 34 per cent of new construction is allocated to increasing the share of affordable residential real estate

Avara-Pitka-Kokemus-Kiinteistosijoitusten-Johtamisesta

Procurement and tax footprint

Through its local presence, Avara has a significant local employment effect and economic impact. We have found that purchasing property maintenance services from local entrepreneurs has proved to be financially justified and operationally efficient.

We expect Avara’s partners to manage their social and employer obligations appropriately and operate transparently. We want to promote responsible operating methods in the real estate sector in cooperation with our partners.

Avara and the real estate investment portfolios it manages are domiciled in Finland and they pay all their taxes in Finland. The tax footprint consists of direct taxes (income tax and real estate tax) and indirect taxes (value added tax, energy tax and insurance premium tax).

Avara-Asumisen-Asiakaskokemus

Results

  • The Group’s tax footprint in 2020 totalled EUR 10.5 million.

  • Local suppliers account for approximately 67 per cent of Avara’s total procurements.

See our Corporate Responsibility Report for further information

Sustainability Report 2019