Nordea Group study: Most are concerned about the impact of energy prices on housing costs

Nordea Group study: Most are concerned about the impact of energy prices on housing costs

More than half of Finns are concerned about the effects of higher energy prices on their housing costs, Nordea Bank says.

According to a survey commissioned by Nordea, 58% of respondents expressed concern about energy prices. One in four said rising energy prices are making it harder for them to cope with their housing costs.

In April-June, property maintenance costs rose 2.1 per cent year-on-year, but the pace is forecast to accelerate towards the end of the year.

"The recent rise in the prices of electricity, district heating, oil and renovation is clearly reflected in a faster rise in housing costs towards the end of the year. Owners of detached houses see the rise in energy prices directly in their electricity bills, and residents of housing companies will receive an unpleasant surprise at the Annual General Meeting next spring at the latest, when maintenance fees may have to be increased," says Nordea’s economist Juho Kostiainen.

More energy repairs

According to Nordea, 28 per cent of Finnish homes have either undergone or planned an energy renovation. Kostiainen pointed out that about 30 percent of the country’s climate emissions are related to housing.

"Energy solutions for housing are of great importance for Finland’s carbon neutrality goal," Kostiainen pointed out.

The Nordea survey, which received more than 1,000 responses, was conducted by Kantar TNS in November.

Source: The Nordic Page




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