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Vaso is the leading provider of right-of-occupancy housing in the Turku region

Varsinais-Suomen Asumisoikeus Oy (Vaso) owns, maintains and produces high-quality and affordable right-of-occupancy homes for people at all stages of life. Vaso offers right-of-occupancy homes in Turku, Raisio, Naantali, Kaarina and Lieto.

Vaso operates cost-efficiently for the public good without distributing any free benefits to its shareholders. Vaso is a non-profit organisation.

Vaso was founded in 1990. Its first property was completed on 13 December 1991 in Halinen, Turku.

Vaso’s shareholders

  • Turku 56,7 %
  • Raisio 10,0 %
  • Kaarina 10,0 %
  • Naantali 6,7 %
  • Lieto 6,7 %
  • YH-Asumisoikeus Länsi Oy 5,3 %
  • Sato-Rakennuttajat Oy 4,6 %

Key figures

Properties and residents in 2022:

  • Housing units: 2,850
  • Separate properties: 112
  • Total floor area of housing: 196,300 m2
  • Heated volume: 806,453 m3
  • Average floor area of a home: 69.2 m2
  • Total area of plots owned: 660,349 m2
  • Residents: approx. 5,400
  • Resident turnover: 13.3%
  • Occupancy rate of housing units: 98.6%

Finances in 2022

  • Turnover € 26,025,201
  • Growth in turnover 2,9%
  • Balance sheet € 233,097,988
  • Depreciation € 7,531,050
  • Loans € 142,046,700 

Annual report, auditor’s report, financial statements and actual cost calculation 

Average residence charge: EUR 10.70/m2 (classified area of the apartment)/month (in 2022)
Personnel: 16

Vaso’s strategy for 2018–2022

Vaso Oy’s strategy has been updated to respond to the changing circumstances.

Factors of change

  • The housing market in the Turku region is becoming overheated, relatively more homes are being built in the Turku metropolitan area than in other growth centres, while price trends, especially for new homes, have begun rising.
  • The quality of housing is increasingly important to customers. The building environment, high-quality materials, and a finished appearance alone are no longer enough to guarantee the quality of housing. In the future, housing will increasingly be a service. There is talk of digital and automated solutions, as well as physical services, such as wellbeing services for senior citizens or solutions to lighten the burden on families in the busiest parts of their lives.

 Vaso bases its operations on the following values: 

  • Service approach 
  • Being close to residents 
  • Quality
  • Competitiveness

Vaso’s basic duty and operating concept (mission)

Vaso owns, maintains and produces high-quality right-of-occupancy homes for people at all stages of life.

The company operates cost-efficiently for the public good without distributing any free benefits to its shareholders. Vaso is a non-profit organisation.

Vaso’s target state (vision)

  • Vaso has modern homes in central locations and in sustainable decentralised places.
  • The housing pathway offers individual community homes for varying life circumstances.
  • Vaso has a strong spirit of inclusion.
  • The Vaso brand is well known and distinguished.
  • Right of occupancy attracts trailblazers and people seeking the permanency of home ownership and the freedom of not owning a home.