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SATO introduces flexible part ownership in Tampere: safe access to your own home in five years with small initial capital outlay

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SATO Corporation
Press release 7 September 2022 at 1:45 pm

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In addition to rental homes, SATO is developing 52 part-ownership FlexHomes in Hervantajärvi, Tampere, ready for moving in during December. SATOFlexHome is a safe housing alternative that is more flexible than a traditional owner-occupied home.

One of Finland’s largest rental housing providers, SATO is developing residential areas together with cities and each year commissions the construction of around 1 000 new rental homes in urban settings close to good transport connections and amenities.

March 2013 will see the completion of 132 new non-subsidised SATO rental homes close to the tram terminus at Heittoniitynkuja, Hervantajärvi, Tampere. Located on the same grounds, the SATO FlexHomes will be ready for moving in during December 2022.

− Cities need a variety of housing solutions and SATO wants to take part in providing a wide range of housing options. In addition to new rental homes, we are introducing our flexible short-term part-ownership model – SATO FlexHome – in Tampere, says Miikka Karjaluoto, SATO Regional Director for the Tampere region.

− SATO FlexHome provides you with flexible access to a home with a small initial capital outlay: you only pay 15% of the apartment price. After five years of part ownership, you can either purchase the home in full or sell it back to SATO, Karjaluoto continues.

SATO FlexHome was developed in response to consumer needs. While living in a FlexHome, you pay part-ownership rent that is lower than the market rent and enables you to, for example, pay back your loan at the same time.

SATO FlexHome is a safe option especially now that those hoping to buy a home are concerned about economic insecurity and rising consumer prices and interest rates.

− Many people would like to buy a home but currently cannot or dare not take out a large home loan. SATO FlexHome is a housing concept that provides more flexibility than an owner-occupied home when life situations change, says Arto Aalto, Vice President, Investment at SATO.

Sustainable choices and modifiability taken into account at Heittoniitynkuja

The design of the Heittoniitynkuja buildings caters for energy efficiency and sustainable building solutions that will last for decades to come. The heat source for the buildings is geothermal heat, which makes use of thermal energy stored in the ground.

Sustainability is also taken into account in mobility. There is covered and lockable storage for bicycles. Car parking spaces can be found in an indoor parking facility located in the same block as well as on the grounds of the property. All parking spaces will be installed with infrastructure in readiness for electric car charging and there are also plans to make shared cars available to the residents of the block.

Every home will feature a glassed-in balcony and some of the ground floor units will also have a terrace. More than half of the FlexHomes from studios to larger family homes will have alcoves enabling flexible use of space and a variety of interior decor solutions. For example, an alcove can be turned into a workspace, a sleeping nook or a play area.

− We want to provide our residents with a variety of housing solutions. Alcoves bring added flexibility and modifiability to these homes also when, for example, people’s life situations change, Karjaluoto continues.


FACTS

What is SATO FlexHome?

FlexHome is SATO’s part-ownership concept. SATO FlexHome offers a housing form that is more flexible than an owner-occupied home when, for example, life situations change.

  • SATO FlexHome is a short-term part-ownership model where you can get access to a home by paying 15% of the apartment price. After that, you pay a part-ownership rent that is lower than the market rent, enabling you to make your possible loan repayments at the same time.
  • You can then buy the FlexHome in full after the five-year part-ownership period. Alternatively, you can sell the apartment back to SATO and still continue living in the apartment as a SATO tenant. SATO undertakes to buy your share back at the original price, less 1% per each year of residence.
  • SATO FlexHome is a safe option especially now that those hoping to buy a home are concerned about economic insecurity and increases in consumer prices and interest rates.
  • The first SATO FlexHomes were completed in summer 2020 in Tali, Helsinki. The FlexHomes in Hervantajärvi, Tampere, will be completed in December 2022. SATO FlexHomes are also planned for locations including Kauklahti, Espoo, and Oulunkylä, Viikki, Myllypuro and Laajasalo, Helsinki.
  • Read more: https://www.sato.fi/en/flexhome

About the Hervantajärvi area

Hervantajärvi is located 12 km from the centre of Tampere and around 2 km from the Hervanta district. The rapidly developing area features an urban park in the middle of the residential blocks, and the entire residential area is surrounded by a wide forested recreational area that offers fabulous opportunities for outdoor pursuits.


For media enquiries, please contact:

SATO Corporation, Miikka Karjaluoto, Regional Director Tampere,
phone +358 40 583 0385, miikka.karjaluoto@sato.fi

SATO Corporation, Arto Aalto, Vice President, Investments
phone +358 40 513 0702, arto.aalto@sato.fi


SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.

SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.

In 2021, SATO Group’s net sales totalled EUR 298.3 million, operating profit EUR 304.5 million and profit before taxes EUR 259.4 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi

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