CEO letter 2024
A transformative year with record growth
Hemnet’s success story continued in 2024, with all-time high net sales growth and significant progress across our business. This year was marked by innovation, operational improvements, and strengthened sustainability efforts, solidifying our position as the leading platform for Sweden’s property market.
Growth driven by innovation, customer focus along with increased market activity
2024 was an extraordinary year for Hemnet, highlighted by a 38.8 per cent growth in net sales to SEK 1,394.6 million (1,004.7), a 37.0 per cent increase in EBITDA, and a remarkable 42.1 per cent rise in ARPL (average revenue per published listing) to SEK 6,382 (4,490).
This year's strong results are driven by several contributing factors. We have continued to develop our products and strengthen our offering while actively working on our pricing strategies to ensure that the cost on Hemnet reflects the value our products create. An important milestone this year was the launch of the updated compensation model for real estate agents in June. It has strengthened engagement with our products and increased compensation to the industry, laying the foundation for even better collaboration going forward.
The Swedish housing market showed clear signs of recovery during the year, as falling interest rates resulted in more transactions as buyers and sellers found it easier to connect. This resulted in more transactions across the market, reflected on Hemnet by a 5.7 per cent increase in new property listings compared to 2023.
Enhancing our product and offering
Our product development has been a key driver of Hemnet’s success in 2024, contributing both to growth and to creating value for our diverse target groups. For property sellers, we have streamlined the purchase process and made it easier to update property listings. For our logged-in users, we have introduced better authentication at log in, added more relevant information and improved the overall user experience.
We have also significantly upgraded the functionality and experience for upcoming listings, improved our apps, simplified the process of integrating videos into property ads, added several highly anticipated search filters, and launched a vastly improved map function.
For real estate agents, we have created better and more opportunities to find new business prospects on Hemnet, such as through the new marketing product ”Sold by Us,” as well as by introducing enhanced ways for our visitors to connect with agents.
By driving this continuous product development, Hemnet ensures that we maintain our position as the go-to platform for property sellers, buyers, and real estate agents, while continuing to deliver a seamless and value-driven experience for everyone involved in the property market.
Building an even stronger team
To support our growth ambitions, we made a number of strategic changes to our organisation in 2024. A key initiative was the creation of a unified operational organisation, integrating sales, product, customer service, business strategy, and marketing teams. This alignment has enhanced cross-functional collaboration, sharpened our focus on customer needs, and positioned us to respond to market opportunities with increased agility. During the year we have also welcomed a number of senior and experienced leaders.
Strengthening our sustainability focus
Sustainability remains a core focus for our work and strategy. In 2024, we intensified our efforts to prepare for current and future reporting requirements. We strengthened our sustainability team with a Sustainability Lead, a new role fully dedicated to developing our sustainability strategy and reporting. Through our sustainability efforts, we aim not only to ensure compliance with regulations but also to contribute to positive developments in the property market and society through a proactive sustainability strategy.
Well positioned for growth and innovation
In 2024, Hemnet registered an average of 7.4 million monthly unique users, a year-on-year increase of 3.3 per cent, and an average of 6,300 views per listing, which is more than 16 times the views listings receive from the second-largest player in the market. This high engagement, combined with the strength of our operating model and the significant steps we have taken to improve our offering and product, has placed us in an excellent position for future growth and continued innovation.
When looking ahead, our focus remains firmly on driving growth, innovation, and delivering exceptional customer value. Early in 2025, we introduced several enhancements to our seller packages and launched our new top-tier offering, Hemnet Max. This package is especially targeted to customers who want even more exposure for their property to potential property buyers. Alongside product development, we will continue to improve the user experience on Hemnet by refining our platform and developing more personalised features for logged-in users, making their property journeys even more seamless and relevant. We also remain dedicated to strengthening our partnerships with real estate agents, property developers, and other stakeholders, ensuring that we continue to deliver tools, solutions and data that create tangible value across the industry.
Ensuring continuity while shaping the future
As I joined the company as CEO in early 2025, the remarkable success of 2024 is a testament to the strong leadership of my predecessor Cecilia. I look forward to continuing to further develop the company’s already successful strategy and ensuring that Hemnet remains an indispensable partner in Sweden’s housing market, while driving innovation and growth forward.
I want to thank the Hemnet team for their incredible passion and hard work, as well as our customers and partners for their trust and collaboration. This combination of employee dedication and strong partnerships has shaped a company that is not only a market leader, but also a vital part of Sweden’s housing ecosystem. I am excited to lead Hemnet into the next phase of its journey, as we continue to innovate, grow, and create value for all our stakeholders.
Jonas Gustafsson, CEO, Hemnet