There is a major housing shortage in Greater Stockholm and in areas at commuting distance from the capital. This shortage is expected to continue into the foreseeable future, since migration into the region greatly exceeds the construction of new homes. This shortage creates a demand that we at Hembla want to meet with a long-term, competitive offering that puts the needs of the tenants first.
We need 600,000 new homes in Sweden before the year 2025. In order to reach that goal, 80,000 homes will need to be built per year, later followed by 55,000 homes, according to an estimate from Boverket. This housing crisis is partly due to a continued population increase. The need is especially high in the Stockholm region, which many people also choose to re-locate to. Regardless of high construction rates, the demand for rental properties is expected to grow.
In the Stockholm area, the average waiting list for an apartment is nine years. Over half a million people are currently waiting for a rental apartment to become available to them.
Over the last few years, Hembla has acquired a property portfolio consisting of over 20,000 apartments. The average waiting list for these homes is approximately six years, in some cases twelve years. Part of the explanation for this is the high demand for homes in general. Additionally, our commitment to providing refurbished homes in attractive neighborhoods adds to the great interest in becoming our tenant.