The year 2024 of the Turku Student Village Foundation (TYS) has been summatired. The demand for TYS apartments increased compared to the previous year. In 2024, approximately one thousand more applications were submitted for TYS housing than the year before. Tenant satisfaction also remained at a good level.
High Demand for TYS Apartments
TYS apartments continue to be highly sought after among students. The target for 2024 was around 6,000 received housing applications. This target was significantly exceeded, as a total of 7,997 students or student families applied for apartments in 2024 (compared to 6,911 in 2023). Notably, there was a marked increase in international applicants.
“The population increase in Turku and the strategic emphases of educational institutions were also reflected in the applicants for TYS apartments, of whom there were more international students than before. Of those living in TYS apartments each month, on average, just over 40% were international students from about a hundred different countries. The trend also reinforces the general development of the shift in emphasis from renting an apartment to renting housing, that is, the emphasis on services,” says CEO Risto Siilos.
The high interest was also reflected in the apartment occupancy rate, which continued to rise from the previous year. In 2024, the financial occupancy rate was 98.0%.
High Levels of Tenant Satisfaction
Tenant satisfaction remained high, as in previous years. Strong indicators include a customer service rating of 4.18 (on a scale of 1–5) and a property maintenance rating of 8.82 (on a scale of 1–10) following maintenance visits.
The foundation aims to provide comfortable and high-quality apartments—and succeeded in doing so. In the tenant satisfaction survey, the perception of the condition and quality level of TYS apartments was rated at 3.99 (on a scale of 1–5).
In addition to tenant surveys, a separate survey was conducted in spring 2024 to examine perceptions and attitudes toward TYS and its student housing among students at Turku’s higher education institutions. The results showed that those living in TYS apartments had a more favorable view of student housing than those who did not.
“The survey shows that the perception Turku students have of TYS housing does not always match reality. We aim to address this perception gap and misunderstandings through targeted marketing efforts,” explains Customer Relations and Communications Director, Pirjo Lipponen-Vaitomaa.
Well-Maintained Apartments
TYS takes good care of its housing stock, and renovation needs are always assessed at the end of each lease. In 2024, the realized cost of renovations and repairs in housing units amounted to 1.49 €/m²/month (in 2023 0.98 €/m²/month).
During the year, the foundation carried out its first-ever facelift renovation project at the Kiertotähti property, where the bathrooms and kitchens in 35 apartments were updated. The goal was to renovate the apartments quickly and smoothly without requiring tenants to move out during the process. With minimal inconvenience, tenants received modernized homes. At the same time, front doors were replaced, long facades repainted, and roofs washed and coated.
“Repairs are carried out annually according to a repair plan. Our goal is to provide high-quality, comfortable apartments and, whenever possible, to improve their energy efficiency. Tenant feedback and wishes are also taken into account in repair operations,” says Real Estate Manager Anssi Aalto.
Carbon Footprint Continues to Decline
The foundation’s carbon footprint in 2024 was approximately 35% lower than in the base year 2020 (used for the carbon neutrality target) and about 8% lower than in 2023. The reduction was mainly due to decreased emissions from energy consumption, particularly the lowered emission coefficient for district heating compared to the previous year. In addition, solar panels installed in the Nummenranta and Student Village Block 5 properties through the RESPONSE project, as well as a heat pump introduced in Tyyssija, contributed to improved energy efficiency and increased use of renewable energy.
Tenants also play an important role in achieving the foundation’s carbon footprint goals. They are guided and encouraged to make responsible daily choices in their housing. Guidance on saving energy and water, as well as waste sorting, is part of TYS’s ongoing communication.
You can explore TYS’s Annual and Sustainability Report 2024 in more detail at: www.tys.fi/vastuullisuus
