Swedish property portal Hemnet Group reported a 19.4% rise in second-quarter revenue, even as the number of property listings on its platform declined amid a softer housing market.
The company said net sales for the three months ending in June rose to 483.5 million Swedish kronor from 405.0 million kronor a year earlier, while operating profit increased 21.5% to 237.7 million kronor.
The growth was driven by a 34.7% increase in the average revenue per published listing, which reached 8,451 kronor, as more sellers opted for the company's value-added services and due to price adjustments, Hemnet said.
"Hemnet delivered a strong performance in the second quarter, with continued growth despite a softer property market with lower listing volumes," Chief Executive Jonas Gustafsson said in the report.
The company attributed the year-on-year decline in listing volumes to macroeconomic uncertainty and a difficult comparison with the same period last year, when interest rate cuts spurred more activity.
Revenue from its business-to-business segment was flat compared to the previous year, which the company called an improvement from the prior quarter, though demand for display advertising from property developers remained weak.
For the first half of 2025, net sales grew 23.3% to 812.0 million kronor, with operating profit up 26.6% to 372.7 million kronor, according to the company.
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