Over the last thirty years, Malmö, the third-largest city in Sweden, has experienced one of the most radical urban changes in Europe. Since the 1990s, Malmö has transformed itself from a declining industrial port city into a vibrant hub of knowledge and logistics, capitalizing on the connection to Copenhagen called the Øresund Bridge (2000), the creation of Malmö University (1998) and the development of the Western Harbour (Västra Hamnen) as a world-class sustainable urban district. The city’s population has grown by about 40% since 2000 to more than 360,000 and is projected to continue increasing at a rate of 1.2% a year through 2035.
Malmö’s property market is highly international, with a young population (median age 36.5 years, the lowest of Sweden’s major cities) and strong cross-border commuting to Copenhagen. Important development corridors include the Western Harbour (mixed-use residential and office), Hyllie (logistics and event-led development next to the City Tunnel rail connection) and the former industrial areas of Kirseberg and Rosengard. In contrast to Stockholm, Malmö has large amounts of brownfield land for redevelopment, enabling larger projects at lower land costs. The five firms profiled below are the most important real estate players in the Malmö market.
Top 5 Real Estate Firms in Malmö
- Wihlborgs Fastigheter AB
- Castellum AB
- Stadsfastigheter AB
- Einar Mattesson
- Genova Property Group AB
A Closer Look at the Top 5 Real Estate Firms in Malmö
1. Wihlborgs Fastigheter AB
Wihlborgs Fastigheter AB is the leading real estate company in the Øresund region and Malmö’s largest property owner with a significant margin. The company’s Malmö portfolio is highly integrated in cross-border trade and commuting patterns, with around 15% of its Malmö tenants having operations or ownership links to Copenhagen. Wihlborgs’ strategy combines prime office holdings in the city center with strategic logistics assets adjacent to the Port of Malmö and the Øresund Bridge.
Key Points
- The Malmö portfolio consists of more than 650,000 square metres in around 180 properties
- Geographic concentration: Central Malmö 45%, Hyllie 25%, Västra Hamnen 20%, industrial south 10%
- Balanced portfolio: 50% Office 30% Logistics/Industrial 15% Retail 5% Other
- In-house property management and technical teams in Malmö office
Notable Properties
- Malmö Central Station Area: 85,000 m² mixed-use, including the Light House office tower, retail galleria and transport links
- Hyllie Boulevard (Hyllie) 120,000 m² office and logistics complex, with DSV and PostNord facilities
- Västra Hamnen (Western Harbour): 65,000 sq m of office assets including Øresund House and buildings next to Turning Torso
- Citadellet (Central Malmö): 40,000 m² prime office property leased to EY, PwC and Mannheimer Swartling
Features
- Malmö portfolio to have BREEAM In-Use Excellent or Very Good status – 92%
- Business development team in Copenhagen dedicated to transborder connectivity
- Electric vehicle charging at all parking facilities (over 2,000 charging points)
- Pilot innovation lab for logistics technology
Market Position
Wihlborgs holds about 22% of the market share of prime commercial properties in Malmö. Average office rent in the Malmö CBD is around SEK 3,800 per square meter per year, around 25% below Copenhagen prime, but with similar specifications. 94.2% occupancy rate as of Q2 2025. Wihlborgs is listed on Nasdaq Stockholm (large cap) and has a market capitalization of approximately SEK 42 billion.
Contact Information
Website: www.wihlborgs.se
2. Castellum AB
Castellum AB is one of Sweden’s largest listed property companies, with a large and growing footprint in Malmö. Castellum is not the largest owner but has focused its investments in Malmö in the northern growth corridor of the city and logistics zones along the E6 and E20 motorways. The company’s portfolio in Malmö is characterized by modern specifications and sustainability certifications.
Key Points
- Malmö portfolio of around 45 properties totalling around 250,000 square metres
- Geographical focus: Northern Malmö (Bulltofta, Västra Hamnen) and Hyllie
- Logistics concentration: 55% of portfolio, warehouse & distribution
- Active development pipeline with 45,000 square meters of construction ongoing
Notable Properties
- Bulltofta Logistics Park (Bulltofta): Modern logistics centre of 75,000 m² leased to Bring, Schenker and Coop
- Västra Hamnen Phase 2 (Western Harbour): Planned office development of 35,000 m² Miljöbyggnad Silver
- Hyllie Gate (Hyllie): 28,000 m² mixed-use office and retail space next to Hyllie Station
- The Stadium Area (Central): 22,000 m² of office property for tenants related to sports and events
Features
- Miljöbyggnad Guld for all newconstruction
- Malmö portfolio 3.5 MW solar PV plants
- Green roof programme with sedum and bio-diversity planting
- Tenant energy monitoring portal with real-time energy consumption data
Market Position
Castellum maintains an investment-grade credit rating (BBB+ stable). Malmö assets account for some 8% of the company’s total property value. The average rent for logistics space in Malmö is SEK 1,100/sqm/year. The company’s occupancy rate in Malmö is 93.8%. Castellum has committed to achieving net-zero operational emissions across the portfolio by 2030.
Contact Information
Website: www.castellum.se
3. Stadsfastigheter AB
Stadsfastigheter AB is the municipal property company of Malmö City. It manages public sector buildings, schools, elderly care and affordable housing. Stadsfastigheter is not a commercial real estate company and all surpluses from the properties are reinvested in property management and development. The company plays an important role in the urban renewal of Malmö, especially in socio-economically challenging areas such as Rosengård, Herrgården and Lindängen.
Key Points
- Portfolio of c. 800,000 square metres of 120 schools, 45 elderly care facilities and 5,000 public housing units
- Geographic distribution across all Malmö districts, with concentration in Rosengård (20%), Södra Innerstaden (15%) and Fosie (12%)
- Mandate is new construction and renovation of existing public buildings
- Annual investment budget of around SEK 1.2 billion
Notable Properties
- Rosengård School Complex (Rosengård): 35,000 m² multi-building campus including grundskola, preschool and sport facilities
- Malmö City Hall (Central): 25,000 m² municipal administrative building and council chambers
- Lindängen Elderly Centre (Lindängen) – 15,000 m² care facility with 200 units and integrated health clinic
- Hyllie School (Hyllie): 18,000 m² newly built primary school (2023) with Miljöbyggnad Silver certification
Features
- Life-cycle cost modelling for all capital projects (minimum 40-year horizon)
- In-house maintenance and operations teams (450 employees)
- Indoor climate monitoring systems compliant with Arbetsmiljöverket standards
- Percent for Art on all major capital projects (1% of construction budget)
Position in the Market
Stadsfastigheter is not publicly traded but is supported by the credit rating of Malmö City (AA+ from S&P). The company’s investment decisions are driven by political priorities, not commercial returns. In growth areas development profits are often used to cross-subsidise renovation projects in socio-economically challenged districts. The company has attained ISO 50001 certification for energy management across the portfolio.
Contact Information
Website: www.stadsfastigheter.malmo.se
4. Einar Mattesson
Einar Mattesson is a privately held, family-owned real estate company from Stockholm that has expanded to Malmö over the last fifteen years. The company’s focus is rental residential properties (hyresrätter) alone, with an integrated development, construction and management model. Einar Mattesson has concentrated on suburban growth areas and brownfield redevelopment sites in Malmö, typically acquiring land through municipal allocations (markanvisning).
Key Points
- Malmö portfolio of approximately 2,200 residential units (115,000 square metres)
- Geographic focus: Hyllie (35%), Västra Hamnen extension (25%), Kirseberg (20%) and Lindängen (20%)
- Vertically Integrated: In-house architects, construction teams and property management
- patient capital structure with loan-to-value always below 45%
Notable Properties
- Hyllie Terrass, Hyllie: 450-unit residential scheme (2022-2024) with retail at ground level and courtyard gardens
- Kirseberg Park (Kirseberg): 380-unit development on former industrial land, featuring passive house certification
- Västra Hamnen Etapp 3 (Western Harbour) A 320-unit development with views of the harbour and geothermal heating
- Lindängen Lyftet (Lindängen): 280-unit social sustainability project with integrated community facilities
Features
- Standardised building system (Einar Mattsson Hus) for uniform quality
- Geothermal heating & solar PV for new developments
- Tenant engagement programme with annual satisfaction surveys (90.5% satisfied, 2024 result)
- 24-hour emergency response, internal maintenance (average 1.8 hours)
Market Position
Einar Mattesson is privately rated but has a conservative capital structure with no bond issuance. Residential rents in Malmö are governed by the use-value system (bruksvärdesystemet), usually 5–8% below new comparables in Stockholm. In Malmö, the annual tenant retention rate is 91%, slightly below the company’s average of 94% in Stockholm. Bolaget har utsetts till Årets Hyresvärd i Malmö av Hyresgästföreningen två år i rad, 2023 och 2024.
Contact Information
Website: www.einarmattsson.se
5. Genova Property Group AB
Genova Property Group AB is a listed property company with a clear focus on community service properties (samhällsfastigheter) such as preschools, schools, healthcare centers and social housing. The company entered the Malmö market in 2021 and has expanded rapidly through acquisitions as well as development. Genova has long-term lease agreements with municipal and state tenants, which provides stable, inflation-adjusted cash flows.
Key Points
- Malmö portfolio of about 90,000 sq.m. / 35 properties
- Geographic Distribution: Fosie (25%), Rosengård (20%), Södra Innerstaden (20%) and other districts (35%)
- Portfolio mix: 45% preschools, 30% schools, 15% healthcare, 10% social housing
- 35,000 sqm development pipeline under construction.
Notable Properties
- Fosie Preschool Campus (Fosie): 12,000 m² facility comprising four municipal preschools (480 children)
- Rosengård Health Centre (Rosengård): Healthcare centre of 8,500 m² with primary care, maternity and rehabilitation
- Lindängen School (Lindängen): 15,000 m² F-9 schoolleased to Malmö City on 20-year agreement
- Kirseberg Social Housing (Kirseberg): 110-unit rental building for municipal housing queue applicants
Features
- Purpose-built designs tailored to municipal tenant requirements
- Triple-net lease structures which transfer maintenance responsibilities to tenants (municipalities)
- Miljöbyggnad Silver or Gold on all new development
- Acoustic and indoor air quality requirements above the minimums of the building code
Market Position
Genova is listed on Nasdaq First North Premier and has a market capitalization of around SEK 6.5 billion. The company’s Malmö portfolio has an average direct yield of 5.8 percent and a weighted average lease term of 14.5 years. The credit ratings of municipal tenants are AA or above, which lowers the counterparty risk. 2025 will mark the year when all new developments from Genova will be aligned with the EU Taxonomy.
Contact Information
Website: www.genova.se
FAQ
What makes Malmö’s real estate market unique compared to Stockholm and Gothenburg?
The Malmö market is marked by its international integration. About 18,000 people commute to Copenhagen each day, which creates a need for flexible offices and logistics facilities that support cross-border trade. In Malmö, the population is younger (median 36.5 years) and the share of rental housing is higher (52% of stock) than in Stockholm (45%) or Gothenburg (48%). Brownfield sites enable development at land costs around 60% below Stockholm prime, so land availability is much higher.
How does the Øresund Bridge affect Malmö commercial real estate demand?
The bridge has made Malmö a low-cost alternative to Copenhagen for logistics, back-office and research operations. Companies that need Copenhagen but are constrained by Danish labor costs, taxes, or space set up Malmö offices. About 15 percent of all commercial leases in Malmö’s prime office stock are occupied by tenants doing business across national borders. Properties in close proximity to the bridge have a rent premium of 15-20% compared to inland properties, given the shorter transport times to the Danish markets.
Which districts in Malmö are experiencing the strongest real estate development?
Development is currently concentrated in four districts: (1) Hyllie with the Citytunnel station, Malmö Arena and logistics clustering, with 250,000 m2 under construction or planned; (2) Västra Hamnen, where expansion continues with residential and office developments on former industrial land; (3) Kirseberg, which is experiencing brownfield conversion from industrial to mixed-use; and (4) Rosengård, which is receiving significant municipal investment in public buildings and social housing. Nyhamnen, a former port area, is the next big development area with plans for 2,500 housing units.
What environmental certifications are common in Malmö’s real estate market?
Miljöbyggnad (Silver or Gold) is standard for all new residential and commercial projects. BREEAM-SE (Sweden) Excellent logistics are required for cross-border facilities that need to be internationally comparable. The Citylab certification signifies Västra Hamnen’s ongoing development as a sustainable district. EU Taxonomy alignment is now a requirement for financing from Swedish and European institutional investors. All municipal land allocations in Malmö City require Miljöbyggnad Gold.
How does municipal ownership affect real estate development in Malmö?
Like Stockholm, Malmö City owns around 65% of the land within the city borders. Developers who can demonstrate social sustainability, provision of affordable housing and integration of public amenities are preferred in the city’s land allocation (markanvisning) process. Stockholm has rather passively used land allocation, whereas Malmö has insisted on a certain percentage of rental units at below market rents from developers, to promote socio-economic mixing. The process generally takes 12 to 18 months from the application stage to the allocation stage.
What are current rental levels and vacancy rates in Malmö?
Prime office rents in the Malmö CBD are in the range of SEK 3,500–4,200 per square meter per year, approximately 50–60% of Copenhagen prime. Secondary office rents are 2,200-2,800 SEK. Hybrid work patterns have pushed office vacancy to 8.7% (up from 5.2% pre-pandemic). Prime logistics rents are SEK 1,000–1,300 per square meter per year and vacancy is 2.9%. Residential rents for new production are in the SEK 1,600–2,200 range per square meter per year under the use-value system, with vacancy under 1.5%.
How does cross-border commuting influence real estate investment in Malmö?
Cross-border commuters (around 18,000 a day) generate demand for properties with certain characteristics: proximity to Hyllie Station (direct trains to Copenhagen every 20 minutes), secure bicycle parking (Danish commuters often cycle to the station) and flexible office arrangements to accommodate Danish workweeks (typically Monday–Thursday in Malmö). International schools and family-sized apartments lure Danish commuters away from residential developers. About 12 per cent of new residential units in Western Harbour are for Danish or international buyers.
