Skanska has performed well during the review period, underscoring its ability to lead and innovate despite challenging market conditions. The Nordic housing market faced a slowdown this year due to rising interest rates and economic uncertainty, but Skanska’s resilient approach and strategic focus on sustainability helped it rise above these obstacles.
In 2023, Nordic homebuyers were cautious, with many delaying purchases due to higher borrowing costs and inflation, resulting in a significant drop in sales volumes across the region. Despite this, Skanska demonstrated its leadership by adapting to the market's shifting demands. The company focused its sales activities on completed or nearly completed homes, recognizing that buyers were more interested in properties that were immediately available to move in.
By the end of the year, Skanska had 4,341 homes under construction in the Nordics, 52% of which were already sold, highlighting its ability to align supply with market demand even in a subdued environment.
Moreover,