The housing market in St. Petersburg equals the Finnish housing market in size. SATO has operated in St. Petersburg since 2007. The share of investments in Russia is limited to a maximum of 10 per cent of the Group’s housing assets.
SATO’s buildings are located close to the centre of St. Petersburg and constructed in the 21st century. A central location is not the only common factor between SATO RentHomes in St. Petersburg and Finland; in both metropolises, singles form the largest customer group.
At the end of June 2020, SATO owned 533 completed apartments and 0 apartments under construction in St. Petersburg. The economic occupancy rate of rental apartments in St. Petersburg was 89.7 per cent on average (H1/2020). For the time being, SATO will refrain from making new investment decisions in Russia.