@misc{9228947,
  abstract     = {{The Swedish office real estate market has entered a period marked by rising vacancies, accelerating polarization between submarkets, and a structural reorientation of tenant demand partly as a result of hybrid work trends. Earlier research has established that tenant characteristics, creditworthiness, sector exposure, contract structure, and concentration bear directly on risk, property values, and financing terms, yet a coherent understanding of how this information is collected, structured, and applied in Swedish practice has been lacking. Thus, the aim of this study is to examine how tenant risk information can be obtained, structured, and implemented in property management, property valuation, and credit assessment within the Swedish office segment.
The study employs a qualitative, abductive research design combining a literature and document review and ten semi-structured interviews with property owners, valuers, lenders, and industry media.
The findings indicate that the contemporary vacancy development is driven by an interaction of structural, cyclical, and contract-related forces, with the structural component appearing to dominate, particularly in peripheral and lower-quality submarkets. Four risk categories emerge as central: financial stability and creditworthiness, sector affiliation and cyclical sensitivity, contract structure and lease term, and tenant mix and concentration risk. Property managers are shifting from a reactive to a more proactive engagement with tenants. Valuers address tenant risk primarily indirectly through vacancy, rent, and yield assumptions. Lenders operationalize the information at a greater level of detail through rent-roll analysis and differentiated credit terms.
The study also contributes with a qualitative framework that structures tenant risk management for practical implementation by both property owners, valuers and lenders.}},
  author       = {{Lindskog, David and Olsson, Elmer}},
  language     = {{swe}},
  note         = {{Student Paper}},
  title        = {{Steget före: hyresgästrisk i det svenska kontorssegmentet}},
  year         = {{2026}},
}