The ongoing difficult global situation is having a serious impact on the entire Swedish housing market and is resulting in a decrease in demand for new housing. Behind the decline is high inflation and rising interest rates, which, combined with the increase in the cost of building materials, has led the Götenehus Group to lay off up to 65 employees.
“We sold 222 homes last year, which compares to the 623 homes we sold in 2021. We need to cut costs, but at the same time make sure we do it in a way that doesn't affect our customers. In parallel, we are working internally to strengthen our value-creating structures and activities. All the initiatives we are currently implementing are aimed at adapting to the prevailing market conditions, as well as providing us with better conditions when the economy turns around”, says Andreas Gustafsson, CEO of Götenehus Group, in a statement.
The Swedish Götenehus Group is engaged in real estate development, housing construction and operations with private homes.
