The growing demand for affordable and sustainable houses combined with the large existing real estate stock and Europe 's sustainability objectives makes it likely that renovation is a fixed part of the real estate strategy of housing corporations. The apparent postponement of the strategic decision has given the impression that corporations are still looking for a real estate strategy to exploit the existing real estate portfolio.With qualitative research methodology, consisting of literature study, desk research and interviews, the answer to the following question was sought: “What kind of real estate strategy do housing corporations have regarding the renovation of their real estate portfolio?”The literature study contains recent reports and scientific articles on the corporation sector. The desk research is an analysis of annual reports and business plans of twenty randomly selected corporations, which results in the corporation matrix developed during this research. Six strategy makers have been interviewed to verify the findings and view on their own strategy.The corporation sector has just had a turbulent period dominated by political (legal) influences and reputational damage. The twenty corporations have not included renovation in any of their missions, and a generalized mission/vision is not possible. The mission and vision guide corporations towards the real estate strategy. The real estate strategy is influenced by external and internal developments, the existing real estate stock, internal real estate labels, and subjectivity in the decision making.There is no clear real estate strategy for the existing stock, but three strategic directions have been identified in this research; maintain, increase, and repel. Renovation is a strategic policy form (part of the strategic direction of maintaining) that produces quality improvement and sustainability of the existing real estate portfolio; however, there is no clear definition for renovation in the sector.