Swedish Property Stocks End Brutal 2022 With Tough Reset Ahead
- Swedish real estate stocks have plunged after soaring in 2021
- Analysts see limited upside for property companies next year
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In 2021, a Swedish property company was one of Europe’s top stocks. It’s ending 2022 at the very bottom of the leaderboard, with a 73% slump that underpins a sector-wide reset.
The reversal of fortunes for Samhallsbyggnadsbolaget i Norden AB — known as SBB — illustrates the woes of Swedish real estate stocks as they grapple with the fallout from aggressive interest rate hikes, as well as a funding squeeze amid high levels of debt. Peers including Fastighets AB Balder and Castellum AB have plunged at least 50%.