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Rental applicants and actualized rental contracts

During the year of operations, overall 6628 students / student families applied for an apartment owned by the foundation, and 2696 new rental contracts were signed, including internal transfers. Overall the foundation owned 4726 apartments by the end of the year of operations, which can accommodate 6812 tenants. The total includes 138 youth apartment spaces. Of the apartment spaces to rent, 57% were in one person apartments, aka studios or shared flats, and 43% in family apartments. By the end of the year, 6426 people were living in apartments owned by the foundation.

The space frequency of the foundation’s apartments was 97.2 % in 2018. The partial use of the apartments took place mainly during the spring semester and summer. In 2018 the foundation had a monthly average of 1595 (1472 in 2017) international degree and exchange students, from around a hundred countries. TYS reserved 350 apartment spaces for exchange students.

By the end of the year, six nurseries, one shop, one restaurant and the Student Association of the Turku University (TYY) with its suborganizations were operating in the properties of the foundation. Additionally, TYY has rented the Kuuvuori youth house, owned by the foundation, as a party and club venue.

The level of rents at the student and youth apartments of the Student Village Foundation remained reasonable. The average rent in 2018 was 12.5 €/m2/month, including electricity, water, and internet. In line with the budget for 2019, the rents for long term rental apartments were not raised in 1.1.2019.

The economic occupancy rate of the apartments was 97.6 %, which was 0.2 % units better than the previous year. The profits from 2018 were in line with the budget, and in total they amounted to 26.7 M€ (in 2017 26.5 M€), of which 25.7 M€ (in 2017 25.6 M) was profit from the apartment rental income. The overall rent accrual from the apartments for the whole year was 12.17 €/m2/month (in 2017 12.11 €/m2/month).

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