Future outlook

The uncertainty relating to the current weakness in the Finnish economy persists, despite the upturn in the world economy. Wage earners' available income is expected to decline slightly. Interest rates are expected to remain exceptionally low.

The demand for rental apartments is expected to remain good. No significant changes are expected in the supply of rental housing. The focus of new construction remains on privately financed rental apartments.

VVO's financial occupancy rate is expected to remain at its current level, while the tenant turnover rate is expected to decrease slightly. As in the previous year, VVO's rent increases for 2014 are moderate in comparison with the business sector in general. The Group is expected to keep improving its result, particularly in VVO Non-subsidised business activities.