Oversupply in the rental housing market persisted in 2025. What we had previously anticipated to be only a temporary situation proved over the past year to be a longer-term challenge for us operating in rental housing. Intense competition for good residents continued in all of SATO’s market areas. Considering the circumstances, we succeeded well over the year. Our economic occupancy rate was 95.4% (95.5) and the average monthly rent of SATOhomes rose to EUR 18.48 (18.40).