Helsingin kaupungin asunnot Oy (Heka) is a municipally owned company and the largest residential lessor in Finland. Heka is owned by the City of Helsinki and as of late 2024, it manages approximately 54,700 rental apartments that house nearly 100,000 residents, which equates to about 15 percent of Helsinki’s population. Heka originated in 2011–2012 through the merger of 21 separate property companies owned by the city; since 2023, operations have been streamlined with a single-office model.
Heka’s rental apartments are allocated based on social need, with priorities set by the city’s housing services. In December 2024, there were about 8,600 active applications for apartments, and the majority of those selected as new residents belong to urgent need categories. The company operates under a non-profit model, setting rents on a break-even basis. In 2024, the average rent was 13.76 euros per square meter per month, notably lower than private sector rents in Helsinki. Rising interest rates and construction debt have recently led Heka to implement sharp rent increases, with rent expected to rise by up to 12 percent.
Heka is continuously involved in housing construction and renovation projects across Helsinki, focusing not only on general housing but also on special accommodations for the elderly and people with disabilities. A significant commitment to energy efficiency marks its recent developments, aiming for high energy ratings in new buildings and improvements in older stock.