Swedish Landlord Castellum Warns Rental Market Will Weaken More
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The chief executive officer of Castellum AB warned that the rental market will weaken more as the Swedish landlord reported that the value of newly signed contracts was lower than terminated leases in the fourth quarter.
“The property industry has a tough year behind it, and we should expect a weaker rental market going forward,” CEO Joacim Sjoberg said in the company’s earnings report, cautioning that more tenants — consisting of Swedish businesses and the public sector — may be impacted by a waning economy.