Wallenstam’s property holding is concentrated in Sweden’s expanding regions of Gothenburg and Stockholm. We have a wide range of housing, offices and retail stores in attractive locations.
Our property holding is presented below in more detail along with the sub markets concerned. The information is updated quarterly in connection with the publication of financial reports.
The total lettable area in our property holding amounts to around 1.2 million sq m. The cities in which we do business are characterized by extensive demand for housing. Our residential holding is fully let and only a small proportion of apartments become vacant during the year. The occupancy rate in regard to commercial properties amounted to 98 percent as of December 31, 2018.
Residential Property Rental Market, Gothenburg
In Gothenburg we manage around 4,000 apartments, of which around 600 are located in the inner city. We also have apartment buildings in Majorna, on Hisingen and the eastern part of the centre, as well as in the peripheral municipalities of Härryda, Partille and Mölndal. Rent negotiations resulted in an average rent increase of 1.1 percent for 2018.
Wallenstam is one of the major private operators on the Gothenburg housing market. As a proportion of the total distribution among housing companies that provide rental apartments, market share amounted to 2 percent at the beginning of 2018. The overall rental market in Gothenburg totals SEK 12.2 billion according to property consultants JLL, and will continue to trend positively moving forward.
Residential Property Rental Market, Stockholm
We manage around 4,700 apartments in the Stockholm region. The properties are located in attractive areas in Greater Stockholm from the central parts of town to inner suburbs such as Gröndal and Råcksta and neighbouring municipalities like Nacka, Sundbyberg and Huddinge. In Uppsala, we manage around 400 apartments. Rent negotiations in 2018 resulted in an average rise of around 1.2 percent.
Wallenstam is one of the major private operators on the Stockholm housing market. Our market share as regards apartments overall in Stockholm amounted to 1 percent at the beginning of 2018. According to JLL, the total rental market in Stockholm County amounted to SEK 26.1 billion (at the beginning of 2018) and will continue to trend positively moving forward.
Commercial Property Rental Market, Gothenburg
Our commercial properties are concentrated in Gothenburg's inner city locations such as along the Avenyn and Inom Vallgraven. In all, we have around 900 commercial customers in Gothenburg. We have a good, stable tenant structure. Examples of commercial tenants are City of Gothenburg, SF Bio, Essity Hygiene and Health AB and Gothenburg Regional Archives.
Wallenstam is one of the biggest operators on the commercial property rental market in Gothenburg, with a market share of around 9 percent. The market share is calculated on the basis of each property owner's floor space in relation to the total floor space in Gothenburg according to the JLL property consultancy.