“The value and need for action has been amplified” – Y-Säätiö’s half-year report has been published

“The first half of 2024 has been marked by a changing landscape for housing and homelessness work. Changes in housing and income benefits are already visible in the daily lives of many people on low incomes and are reflected in the Foundation’s work, particularly through increased demand for housing advice and, of course, housing applications.
Housing construction is still active at the Foundation, and the planned changes to public subsidies in general will only become a reality years from now. However, concerns about the future combined effects of the changes are shared between Y-Foundation employees and other actors,” writes Teija Ojankoski, CEO of Y-Säätiö, in the half-year report.

Y-Säätiö has 557 affordable housing units under construction. No new homes were completed during the spring, but some of the homes under construction will be ready for residents during the rest of the year. The Foundation is building new housing especially in areas where there is a need and demand for affordable housing. The current construction projects are in Helsinki, Espoo, Klaukkala, Kangasala, Pirkkala and Tampere. During the autumn, construction of 55 apartments will start in Herttuankulma in Turku. By 2024, Y-Säätiö will provide homes for more than 26 000 residents.

Y-Säätiö’s turnover in the first half of the year was around 78.2 million euros. The Group’s interest rate hedge ratio has curbed the growth in interest expenses.

Highlights of the spring

In May, the From Local to Global homelessness seminar brought together in Helsinki the world’s leading experts in homelessness work. One of the Foundation’s goals is to reduce homelessness internationally and the seminar delved into the lessons and tools for ending homelessness.

In the spring, Y-Säätiö launched the Y-Portaali, a digital tool for partners designed to facilitate the re-rental of housing and to help end homelessness. Y-Portaali provides the Foundation’s partners with a real-time overview of available and vacant housing with additional information and makes it easier for them to offer and find housing for their target groups. Check out Y-Portaali on our website.

At the Annual General Meeting, two new members were elected to the Board of
Y-Säätiö. The new members are Teppo Forss , CEO, nominated by the City of Turku, and Jussi Koskinen, graduate engineer, nominated by the City of Espoo. More information can be found here.

In addition to the half-year report, the Y-Säätiö’s reports on its activities in an annual report, which includes the financial statements and, from 2023 onwards, a sustainability report. Y-Säätiö’s reports can be found here.