DESPITE THE ONGOING PANDEMIC

SALES OF NEW HOMES ARE GOING WELL

Swedes' interest in buying homes has been extremely strong during the ongoing corona pandemic. The number of homes sold is breaking records in 2020, at the same time as the prices of houses and condos have climbed. Sales of the company's newly produced homes have gone very well for Stena Property.

Initially, there was a complete stop in the housing market during the spring, and it felt like everything was put on hold, says Eva-Lotta Vinskär, Marketing and Sales Manager at Stena Bygg, which is Stena Propertys company for new construction. Towards the summer, activity sharply increased. Many people expected reduced demand and falling prices, but this did not happen. For those who have jobs and feel secure with their employment, many have begun looking around for a new home, which has increased demand in the market and contributed to higher prices. Many are spending more time at home and experiencing new needs that they havent had before.

MAJOR INTEREST IN HOUSING IN A NEW DISTRICT OUTSIDE STOCKHOLM

Vega is a new residential area located about 20 kilometers from central Stockholm. It has recently received a commuter train station, making it easier to travel to the city. There are plans for 3,500 new homes in the area, and Stena Property is expected to build almost 1,500 of them, both rental apartments and condos. It is mainly multi-family homes are being built, but also row houses.

During the year, we signed binding agreements for all twenty row houses in the Sommartriangeln block in Vega, and after the start of sales, all twenty-four row houses in Vintertriangeln were also sold, says Eva-Lotta Vinskär. In September, sales also started for one of our condo buildings with forty-one units. During the first month, binding agreements were signed for more than half of the units.

Eva-Lotta Vinskär sees that the preparatory work to identify the right target group has contributed to the strong sales.

We were able to identify the wishes of the target group early on and what they could afford to pay. Consequently, weve been able to build the homes with the qualities that buyers want and at a price they are willing to pay. In Vega, we have well-planned homes, in a nice location and with good opportunities for commuting. In summary, things have gone well both in Stockholm and Gothenburg. Weve sold all the condos in the projects we started earlier, and at the same time sold very well in most of our new projects.

CORONA PANDEMIC LED TO NEW WAYS OF MEETING HOMEBUYERS

When people could no longer meet as before, Stena Property and Stena Bygg were quick to make changes. Among other things, digital showings were arranged – both for individuals and larger groups.

We can, for example, have 100 people join in and listen and watch a showing. In this way, we have actually managed to attract new customers who otherwise would not have come to physical showings. And when we have had showings on site, we have tried to have them outdoors, or in larger rooms. We were also quick to convert the entire contract process to e-signing, which has been appreciated by our customers. It saves time and we avoid risks of spreading the virus. We now have new ways to meet our customers, and we will continue to use several of them in the future as well.

ABOUT STENA PROPERTYFor four decades, Stena Property has been a company that rents out homes, with a focus on good living environments and security for those who live in the neighborhood. In recent years, the company has taken further steps forward, clearly pursuing sustainable urban development.
The company intends to build 1,000 new homes in and around its existing residential areas each year, among other things to help reduce the housing shortages in the big cities.
ABOUT CONDOS IN SWEDENSwedish condos have a unique form with the units owned by a tenant-owner association. Those who buy condos are actually purchasing shares in the tenant-owner association together with their neighbors. Buying a house in Sweden, however, entails ownership, just like in other countries.
HOUSING MARKET IN SWEDENLooking back on the first ten months of the year 2020, 48,800 houses and 101,900 condos have been sold in Sweden, which is +1 percent and +6 percent, respectively, more than in the same period last year. (source: www.maklarstatistik.se)
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