Sweden

Sweden is Heimstaden Bostad's largest market in terms of value. The property portfolio is geographically diversified across large and medium-sized cities throughout the country and contains different types of properties. Hence, our customer base mirrors society, ranging from students and single households to families and seniors.

90 billion
Investment Properties
46,572
Homes
100%
Regulated Income

Key Figures

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
Rental income SEK m 1,158 1,115 1,115 1,089 1,052
Net operating income SEK m 635 725 674 550 553
Net operating income margin % 54.8 65.1 60.5 50.5 52.5
Like-for-like rental income growth % 5.2 4.8 5.4 3.1 2.8
Real economic occupancy % 98.97 99.0 99.3 99.1 99.2
Capital expenditures SEK m 791 755 718 766 1,443

Homes

Units

Fair Value of Investment Properties

SEK million

Rental Income

SEK million

Net Operating Income Margin

Last 12 Months, %

Norway

Heimstaden Bostad is the largest private residential real estate company in Norway, with a portfolio consisting primarily of smaller apartments and a large share of relatively young customers. Historically, leases in Norway have been entered into on a 3-year basis. In February 2021, Heimstaden Bostad became the first residential real estate company in Norway to introduce open-ended rental contracts, with an aim to contribute to a more predictable and stable rental market for tenants.

17 billion
Investment Properties
3,973
Homes
0%
Regulated Income

Key Figures

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
Rental income SEK m 180 189 176 195 198
Net operating income SEK m 127 142 136 150 145
Net operating income margin % 70.7 74.9 77.3 77.3 73.0
Like-for-like rental income growth % 7.6 6.3 8.0 7.4 8.4
Real economic occupancy % 99.65 99.6 99.2 99.3 99.4
Capital expenditures SEK m -34 31 110 46 103

Homes

Units

Fair Value of Investment Properties

SEK million

Rental Income

SEK million

Net Operating Income Margin

Last 12 Months, %

Denmark

Heimstaden Bostad is the largest private residential real estate company in Denmark, and we have the last years expanded our portfolio in all regions in the country. We have several regional offices in Denmark, bringing our employees even closer to our customers.

72 billion
Investment Properties
20,757
Homes
14%
Regulated Income

Key Figures

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
Rental income SEK m 895 912 873 859 802
Net operating income SEK m 604 649 605 568 520
Net operating income margin % 67.4 71.2 69.3 66.1 64.8
Like-for-like rental income growth % 2.4 0.5 1.0 2.6 4.5
Real economic occupancy % 97.40 97.2 96.9 96.6 97
Capital expenditures SEK m 439 330 300 243 420

Homes

Units

Fair Value of Investment Properties

SEK million

Rental Income

SEK million

Net Operating Income Margin

Last 12 Months, %

Netherlands

The Netherlands is a geographically diversified market for Heimstaden Bostad. In the Netherlands, there are several objective factors determining whether residential units are regulated or subject to free market rent. The most important factors are energy labels, the size of the unit and the WOZ value – a public valuation measure, which is a proxy for the attractiveness of the location.

27 billion
Investment Properties
13,296
Homes
58%
Regulated Income

Key Figures

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
Rental income SEK m 354 366 346 338 328
Net operating income SEK m 253 278 272 247 218
Net operating income margin % 71.5 76.0 78.5 73.2 66.5
Like-for-like rental income growth % 4.6 4.1 4.8 4.9 4.9
Real economic occupancy % 99.69 99.7 99.7 99.8 99.7
Capital expenditures SEK m 191 188 459 230 343

Homes

Units

Fair Value of Investment Properties

SEK million

Rental Income

SEK million

Net Operating Income Margin

Last 12 Months, %

Germany

After acquiring its first portfolio in Berlin in 2018, Heimstaden Bostad has continued to expand in Germany, and we have acquired residential properties in seven German cities. Since January 2021, Heimstaden has managed the Berlin portfolio, in line with the business model for in-house property management in all markets. The German portfolio includes different types of homes, which results in a diverse customer base.

79 billion
Investment Properties
29,713
Homes
100%
Regulated Income

Key Figures

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
Rental income SEK m 699 683 666 645 548
Net operating income SEK m 564 500 507 503 375
Net operating income margin % 80.7 73.3 76.0 77.9 68.4
Like-for-like rental income growth % 8.5 3.6 5.3 3.2 2.8
Real economic occupancy % 99.66 99.2 98.8 99.2 98.3
Capital expenditures SEK m 324 149 400 202 120

Homes

Units

Fair Value of Investment Properties

SEK million

Rental Income

SEK million

Net Operating Income Margin

Last 12 Months, %

Poland

Heimstaden Bostad made its first investment in Poland in December, 2020, followed by additional acquisitions in 2021. In May, Heimstaden Bostad expanded its portfolio with the 3.1 billion acquisition of a newbuild project for 2,496 homes throughout five of the largest cities in Poland: Warsaw, Krakow, Wroclaw, Poznan and Gdansk - economic hubs in their regions and encom­passing Poland’s most populated and prosperous areas.

The Polish economy has developed positively over the last decade. Warsaw is expected to be among the fastest growing European cities over the coming years, with a rising population and increasing household income.

Newbuild Portfolio:

Homes: 3,839
Commercial Area: 8,193 sqm
Est. GRI p.a.: SEK 363.7 million
Completion: Q1 2022-Q1 2025

2 billion
Investment Properties
777
Homes
0%
Regulated Income

Key Figures

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
Rental income SEK m 24 21 15.1 8.8 5
Net operating income SEK m 15 12 9.9 3.8 n/a
Net operating income margin % 64.3 59.1 65.1 n/a n/a
Like-for-like rental income growth % n/a n/a n/a n/a n/a
Real economic occupancy % 97.98 97.1 92.4 96.3 81.8
Capital expenditures SEK m 18 32 83 50 0

Homes

Units

Fair Value of Investment Properties

SEK million

Rental Income

SEK million

Net Operating Income Margin

Last 12 Months, %

United Kingdom

Heimstaden Bostad made its UK entry in 2021 with the acquisition of newbuild project "Soho Wharf" in Birmingham.

Soho Wharf is located just outside the city centre and is part of a wider plan to expand Birmingham to the west, converting former industrial areas into new neighbourhoods with generous public landscaping and high-quality architecture.

4 billion
Investment Properties
949
Homes
0%
Regulated Income

Key Figures

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
Rental income SEK m 69 29 16.5 6.4 2
Net operating income SEK m 31 7 6.3 -0.3 0
Net operating income margin % 45.7 23.7 38.5 -4.2 -4.8
Like-for-like rental income growth % 5.3 5.1 3.0 7.1 n/a
Real economic occupancy % 94.73 83.2 83.8 85.7 100.0
Capital expenditures SEK m 210 293 567 334 464

Homes

Units

Fair Value of Investment Properties

SEK million

Rental Income

SEK million

Net Operating Income Margin

Last 12 Months, %

Finland

In the summer of 2021, Heimstaden Bostad entered Finland, marking its 9th market presence. Finland is a prosperous Nordic market with expected positive economic development. The Finnish portfolio is loacted in Helsinki and Lahti.

4 billion
Investment Properties
3,164
Homes
0%
Regulated Income

Key Figures

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
Rental income SEK m 43 69 66 65 63
Net operating income SEK m 29 34 31 28 24
Net operating income margin % 67.3 50.3 46.9 43.9 38.1
Like-for-like rental income growth % 4.5 3.5 0.8 0.5 n/a
Real economic occupancy % 95.51 93.7 93.3 93.8 95.6
Capital expenditures SEK m 63 48 59 17 50

Homes

Units

Fair Value of Investment Properties

SEK million

Rental Income

SEK million

Net Operating Income Margin

Last 12 Months, %

Czechia

Heimstaden Bostad entered the Czechia in early 2020, which made Heimstaden the largest residential real estate company in the country. Our portfolio is mainly located in the Moravia-Silesia region, where approximately one third is in Ostrava — the most densely populated region in the Czechia after the capital Prague. Measured by the number of units, the Czechia is one of Heimstaden Bostad’s largest markets.

25 billion
Investment Properties
42,352
Homes
25%
Regulated Income

Key Figures

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
Rental income SEK m 427 434 443 414 388
Net operating income SEK m 280 307 324 301 253
Net operating income margin % 65.5 70.9 73.0 72.6 65.3
Like-for-like rental income growth % 9.0 10.1 15.8 15.6 12.6
Real economic occupancy % 97.00 96.4 96.8 97.1 97.1
Capital expenditures SEK m 239 210 324 135 314

Homes

Units

Fair Value of Investment Properties

SEK million

Rental Income

SEK million

Net Operating Income Margin

Last 12 Months, %