Published 9 December 2022 at 07.14
Economy. The luxury housing developer Oscar Properties risks becoming the first major victim of the bursting Swedish housing bubble, writes Fastighetsvärlden.
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Analysis house Pareto specifically points out a secured bond from Valerum that matures in April 2023 and which is then expected to trigger bankruptcy.
According to the analysis, Oscar Properties has not reduced its indebtedness in time and is therefore sitting fixed with a capital structure that is not sustainable.
According to the analysis, the company can expect a rising loan-to-value ratio, as the company's housing prices fall and the assets, which consist of real estate values, fall in price.
Therefore, the solidity decreases rapidly and under current market conditions the housing developer cannot survive, according to Pareto.
Oscar Properties is behind, among other things, the debated landmark “Norra Tornen” at Norrtull in Stockholm and the spectacular wooden block 79&Park at Gärdet in the same city.