A release by Danske Bank on Friday has warned that maintenance costs have been hit by a general rise in prices.
According to Statistics Finland, the costs of property maintenance rose by 11.5 percent in July-September last year. Costs for housing companies located on rental properties are also affected by the rent increases tied to the cost of living index. Inflation overall in Finland was at 7 percent last year.
Danske Bank estimates that most housing companies will be increasing maintenance fees by 10–20 percent at their spring general meetings.
Some housing associations have delayed loan repayments in order to cover higher maintenance expenses, and according to Danske Bank the deposit balance of housing companies shrank by 14 percent in December compared to a year earlier.
The bank is urging shareholders in housing companies to take an active part in their upcoming general meetings, and to evaluate how higher maintenance fees will affect personal finances.
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