The half-year report of the Y-Säätiö has been published. The report highlights the foundation’s stability and sustainable financial management in a challenging economic environment. Y-Säätiö continues to make strong investments in providing socially significant housing solutions.
The first half of 2024 has been marked by a changing operational environment in the fields of housing and homelessness work. Changes in housing and income support are already affecting the daily lives of many low-income individuals and are reflected in the foundation’s activities, particularly through the increased demand for housing counseling and, of course, housing applications.
Housing construction by the foundation is still active, and the planned changes to public support will not materialize for several years. However, concerns about the future combined impacts of these changes are shared among Y-Säätiö staff and other stakeholders.
Housing-related themes have now entered public discussion in a more diverse manner than in recent years. In addition to closely monitoring the housing market, the media is addressing housing issues from perspectives that resonate with low-income individuals: What are the consequences of rising housing costs, and how can one cope with them?
“The value and necessity of Y-Säätiö’s work have been emphasized in these challenging times.” Teija Ojankoski, CEO of Y-Säätiö Group
The value and necessity of Y-Säätiö’s work have indeed become more pronounced in these challenging times. Since its inception, Y-Säätiö’s mission has been to acquire and provide housing for those who need it most. In addition to offering homes, the foundation was also tasked with enhancing the economic and social wellbeing of its residents.
In 2024, Y-Säätiö provides a home for over 26,000 residents. Although no new homes were completed in the first half of the year, 557 affordable apartments are under construction for M2-Kodit, some of which will be completed by autumn.
The foundation is also committed to eradicating homelessness, improving resident wellbeing, and promoting sustainable housing through research and development activities. The “Water Conservation in Housing” study successfully reduced the carbon footprint of housing and identified ways to decrease energy and water consumption.
In the spring, a research project was launched in collaboration with the University of Turku to gather information on the use of services by those who have experienced homelessness and the societal costs of homelessness. We hope this research will help to clarify the societal impact and significance of eradicating homelessness, particularly from an economic perspective.
One of the highlights of the spring was the international “From Local to Global” homelessness seminar held in May. The seminar brought together the leading figures in homelessness work from around the world to Helsinki—participants came from 16 different countries, and the speakers represented five continents.
With this seminar, Y-Säätiö aimed to strengthen international cooperation and understanding of how to succeed in eradicating homelessness. The speakers, ranging from researchers to political decision-makers, shared the same view: eliminating homelessness requires systemic, societal solutions.
From an international perspective, Finland’s strengths in ensuring housing for all and eradicating homelessness are clearly evident. These successes are rooted in perseverance and a comprehensive approach. A society that ensures everyone has a home will need these principles moving forward. We at Y-Säätiö remain committed to this cause.
Teija OjankoskiCEO, Y-Säätiö Group