More than half of Finland’s residents are worried about the impact higher energy prices will have on their housing costs, says Nordea Bank.
According to the results of a survey commissioned by Nordea, 58 percent of respondents voiced concerns about energy prices. One in four said rising energy prices are making it harder for them to to cope with their housing costs.
In April – June, property maintenance costs rose by 2.1 percent year-on-year, but the pace is projected to have accelerated towards the end of the year.
“The recent rise in the prices of electricity, district heating, oil and renovations will be clearly seen in a more rapid rise in housing costs towards the end of the year. Owners of single-family homes are seeing higher energy prices directly in power utility bills, and people living in housing companies will get an unpleasant surprise at next spring’s Annual General Meeting at the latest, when maintenance fees may have to be increased,” says Nordea economist Juho Kostiainen.
More energy renovations
According to Nordea, 28 percent of homes in Finland have either undergone or have planned energy renovations. Kostiainen pointed out that about 30 percent of climate emissions in the country are related to housing.
“Energy solutions for housing are of considerable importance for Finland’s carbon neutrality goal,” Kostiainen noted.
The Nordea survey, which received over 1,000 responses, was conducted by Kantar TNS in November.
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