Why invest in Hemnet?
1. Hemnet is Sweden’s #1 destination for properties
Hemnet is the #1 property portal in Sweden. Approximately 9 out of 10 properties sold in Sweden in 2024 were listed on Hemnet and Hemnet had more than 40 million visits on its website every month. Hemnet has 94% brand awareness among property sellers in Sweden and 92% of active real estate agents use Hemnet. On average, Hemnet’s listings had 6,303 visits per listing in 2024, which was approximately 16x more than that of the second largest property platform.
2. Stable and efficient property market
Sweden’s housing market is both stable and efficient, driven by structural characteristics and strong digital infrastructure. Professional real estate agents working under exclusive mandates ensure high-quality listings, while transaction volumes remain stable over time thanks to demand primarily driven by long-term housing needs rather than speculation. The transaction process is also highly efficient, with Hemnet playing a central role as the primary marketplace where nearly all buyers and sellers meet. A regulated rental market, low levels of buy-to-let activity, and a historically stable macroeconomic environment further contribute to resilient and predictable market conditions.
Published listings per year
3. A unique seller-paid business model with agents as partners & resellers
Hemnet operates a seller-paid business model, which means that it is the seller that pays for the property listing on Hemnet. A property transaction is usually the largest transaction in a person’s life and the average Swede moves only once every eight or nine years. A main priority for the seller is to maximize the exposure of the listing to ensure that as many potential buyers as possible sees the property. Hemnet offers the most prominent exposure through its leading market position and its selection of products and services.
Real estate agents are important partners to Hemnet as only agent listings are allowed on Hemnet and the real estate agents handle the publication of the property listings on the platform. Agents also play a key role as advisor to the seller in regards to what Hemnet package to choose to increase the chance of a successful transaction. In return, Hemnet pays the real estate agent an administrative fee for the work related to the listing as well as a sales commission on value-added services. The business model is unique from an international perspective and results in a close relationship between Hemnet and real estate agents.
4. Strong growth and high margins enabling attractive shareholder returns
Hemnet’s financial target is to grow net sales by 15-20% per year and to reach a long-term EBITDA margin of more than 55%, with a leverage ratio of below 2.0x. From 2017 to 2024, Hemnet’s net sales grew by more than 4x while EBITDA increased by almost 7x, representing a net sales CAGR of 23% and EBITDA CAGR of 31%. Hemnet’s leverage ratio was at 0.5x at the end of 2024.
Hemnet’s dividend policy states that the company shall pay a minimum annual dividend of more than ⅓ of net income and in the event that the company retains excess cash, this will be returned to shareholders e.g. through special dividends or share repurchases. From 2022 to 2024, Hemnet returned more than 1.4 billion SEK to its shareholders through dividends and share buybacks.
