Varma as a real estate investor

Varma is one of Finland’s largest real estate investors, with real estate assets worth approximately EUR 5.6 billion. As a responsible real estate owner, we ensure the energy efficiency of our properties and aim for carbon-neutral energy use in our properties by 2030.

  • RENTAL HOMES approx. 4,600

Are you looking for commercial premises or a rental apartment?

Commercial premises

Varma’s selection of commercial premises includes both historical gems and several new sites. We offer a wide array of office and commercial premises of different sizes for various needs. We also own several hotel properties throughout Finland. You can look over Varma’s lettable commercial premises on the separate commercial premises website.

Check out the commercial premises (in Finnish)

Rental apartments

We currently own approximately 4,300 rental homes throughout Finland, and we continue to build more. The majority of our rental apartments are located in the capital area and in Tampere. You can also rent your new home in one of the apartments we own in Turku, Lahti, Kerava, Järvenpää and Jyväskylä. The apartment rentals, building management, customer service and other operational activities are managed by our partner Colliers Rental Apartments  | Colliers Asunnot.

Read more about Varma as a real estate investor

See our available rental apartments on Colliers Rental Apartments's website.

In matters related to apartment rentals, maintenance and building management, please contact Colliers Rental Apartment's customer service.

Customer service 
Tel. +358 20 130 3003 (Mon–Fri, 8.30 am–4 pm)

The price of calls made in Finland (incl. VAT 24%)

landline network: €0.0835 per call + €0.1669 per minute
mobile phones: €0.0835 per call + €0.1669 per minute

The contact details of your housing company’s building manager and maintenance company can be found on the noticeboard in the stairwell and in the One4all Mobile resident app.


A responsible real estate owner

Responsibility runs through everything we do, from investment decisions to construction and real estate maintenance. Our actions are guided by the strict responsibility targets we set.

Did you know that a large part of Finland’s carbon footprint results from buildings? That is why we invest in commercial properties that support not only your business, but also your environmental targets. We focus on the energy efficiency of the buildings we own by carrying out energy renovations. We are switching, for example, to using solar panels and heat pumps as energy sources in a large proportion of our residential properties. We aim for emission-free heating and electricity in the properties we own by 2030.

We want to develop and monitor the sustainability of our properties. Our properties already have 62 BREEAM environmental certificates with a rating of at least ‘Good’, which speaks to, among other things, a property’s energy efficiency and waste-sorting and recycling possibilities.

In addition, many of our properties and residential buildings are located near excellent transport connections, which enables low-emission commuting by public transport and by bicycle. The properties also offer bicycle maintenance points and electric car charging points, among other things. Take a step towards more sustainable business premises and living.

High customer satisfaction

Satisfaction among our commercial premises customers has been among the highest in our sector for years now, and it continues to rise. In 2021, overall satisfaction was 4.07 on a scale of 1 to 5 – the best in Varma’s peer group. Satisfaction among the residents in our rental apartments was 3.78 on a scale of 1–5, and we have an exceptionally high number of residents who live in our apartments for a long time.

Responsibility in real estate business

Taking sustainability into consideration in all our investment activities contributes to both Varma’s objective of first-rate investment and our position as a long-term pension investor. Responsible practices are implemented in all areas of the real estate business: leasing, maintenance, real estate investments and construction, no matter whether we are handling them ourselves or with a partner company

Important themes in responsible real estate investments include the improvement of buildings’ energy efficiency and bringing the circular economy into building and demolition operations.

Corporate responsibility extends to supply chain

We make numerous procurements every year, for example, in property development, real estate maintenance and IT services, most of which in Finland. We expect the suppliers who have a contractual relationship with us to comply with Varma’s Supplier Code of Conduct. At the same time, first-tier suppliers must undertake to ensure responsibility in their own supply chain.

We have also drawn up circular economy guidelines for the construction and maintenance of our properties to help our partners.

Circular economy guidelines for maintenance (in Finnish)

Circular economy guidelines for construction (in Finnish)

Our sustainability goals


 By the end of 2023, we had reduced the carbon dioxide emissions of our properties by 64% compared to the 2015 baseline. The important work to reduce emissions continues, and we are seeking new opportunities to lighten our carbon footprint.


The majority of Varma’s commercial properties are BREEAM certified, and Varma is increasingly seeking certification for its residential properties as well. Certification is proof of a building’s environmental and sustainability level. Varma’s buildings currently have a total of 62 BREEAM certificates.


Varma took part in the GRESB assessment in 2023 for the fifht time, scoring 87 points out of 100. Varma received full points in the area of sustainability management. In the peer group of European unlisted low-risk real estate investments, Varma ranked 38th among the 311 investors.


Our goal is for all our properties to use to  fossil-free electricity by 2025. Currently nearly all of our residential properties and several of our commercial properties already use  fossil-free electricity.


Our goal is for all our properties to use  fossil-free heating by 2030. Currently several of our commercial properties already use  fossil-free heating (Q1/2022).


Varma’s entire investment portfolio will be carbon neutral by 2035. Already at the end of 2021, the weighted carbon intensity of Varma’s equity portfolio was lower than that of the global equity market.

Varma’s goal is to have its most important buildings certified according to the BREEAM environmental rating system

BREEAM is an environmental rating system for buildings and building projects to assess the eco-efficiency of buildings using harmonised methods. The environmental rating system covers areas such as energy efficiency systems, waste-sorting and recycling opportunities, and location, i.e. whether the building is situated along good public transport routes and how cycling is encouraged, for example, in the space solutions.

Varma’s goal is to have its most important buildings certified according to the BREEAM environmental rating system by 2025. The aim is to achieve a minimum rating of “Good” or “Very Good”.

Read more

Three of Varma’s properties received a very high environmental rating (in Finnish)

Varma promotes the sustainability of its residential properties through environmental ratings (in Finnish)

Read more about BREEAM

Varma does well in GRESB real estate sustainability assessment

The Global Real Estate Sustainability Benchmark (GRESB) is a global tool and framework for assessing and benchmarking the sustainability performance of real estate, infrastructure and investment assets, allowing investors to build up and compare their sustainability performance.

GRESB assesses the sustainability of the entire direct real estate portfolio with respect to sustainability-related risks and opportunities, energy and water consumption, greenhouse gas emissions, environmental management systems and broadly the sustainability policies and management in the entire company.

Read more about Varma's success in GRESB. 


Read more about GRESB

Corporate social responsibility at Varma

Sustainability is an essential part of all our operations. Varma’s responsibility for managing pension assets, and for our customers, employees and shared environment spans far into the future. The guiding principle for our Sustainability Programme is “A secure future for everyone”.

Through our sustainability work we are building a better world for current and future generations. The focus areas of our 2022–2025 Sustainability Programme are: Ensuring pension security, Investing for change, and For sustainable working life.

Read more about our Sustainability Programme

Media contacts

Sampsa Ratia

Director for Real Estate Investment

Real estate investments

Sari Raunio

Property Development Director

Real estate, real estate development

Toni Pekonen

Commercial Property Director


Sarianna Sipola

Portfolio Manager, Residential Real Estate

Residential investments

Kai Niinimäki

Asset manager

Real Estate, Tampere Coworking Premises and Turku

Current issues