More and more people want to sublease their condominium. On the large advertisement site Blocket bostad, the number of advertisements increased by 134 percent in April, compared to the same period last year. The depressed economic situation, with inflation and rising interest rates, is believed to contribute to the increase. When the economy is tough, for those who own a condominium, renting out their apartment can provide a large addition to the coffers. Maybe to move in with a partner or work in another location. – I am quite surprised. I never thought I would see this size of increase. It shows the economic situation we are in with inflation and rising interest rates, says Fredrik Strömsten, who is CEO of the company Qasa, which runs the Blocket bostad advertising site. For competitive reasons, the ad site does not want to say exactly what the increase of 134 percent corresponds to in the number of ads. But as Blocket bostad is one of the larger players with 150,000 advertisements per year, this is a substantial increase. Many are in need of longer leases In a survey the company conducted among 413 of its lessors, 62 percent said they would like to lease for a longer period if the association’s statutes allowed it. 48 percent state that they may be forced to sell the home if the association refuses continued rental. – Many people today are in a bit of a bind. You may have large mortgages and need to sell, but the market has gone down a lot. Then you turn to the rental market to rent out, says Fredrik Strömsten. Can contribute to lower rents Fredrik Strömsten believes that the increased supply of condominiums for rent can contribute to lower rents in the long run. – What we have also seen is that rent levels have started to slow down as supply has increased sharply. I think it may become a bit more of a renter’s market than it has been historically.
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