Strategier i lågkonjunktur - En studie om hur bygg- och fastighetssektorn bemöter marknadsförändringar

Sammanfattning: The construction and real estate sector have been operating in a prosperous environment for a long time, enabling high production and turnover. However, the economic situation has been strongly impacted by the Covid-19 pandemic and Russia's invasion of Ukraine in Q4 2022, resulting in a recession that is expected to last for several years. Historically, economic crises have led to decreased housing investments and lower employment, which is also forecasted in today's market situation. Therefore, construction and real estate companies need to be well-prepared for different business cycles, where implementing strategic tools can mitigate business losses. The purpose was to investigate what strategies construction and real estate companies use to cope with the current recession, with a focus on condominiums. The study is based on the following research questions: - What strategies are being implemented to cope with the current recession? - In what ways do housing policy measures reflect on the real estate sector? - Is there a risk that sustainability efforts are being sidelined in the current market situation? The study was conducted using a qualitative method in combination with an abductive approach. The work was initiated with a literature review to gain a deeper understanding of the housing market and different types of strategic tools. The study also examined previous economic crises that affected the real estate sector. Then, a qualitative analysis was conducted using semi-structured interviews with a total of eleven companies. Suitable companies and candidates were identified in collaboration with the consulting firm Svefa. The study presents several conclusions that emerged from the theoretical framework and the results of the data collection. It identified that both reactive and proactive strategies are required to meet the current recession, where the latter has become increasingly difficult. Due to an unstable world situation, business cycles are becoming shorter, making it more challenging for companies to influence and control future outcomes. The reactive work is becoming more critical, where cost minimization becomes the primary focus in many cases. The study also includes an aspect concerning sustainability and whether it risks being jeopardized in today's pressured economy. It was found that sustainability work to some extent is overshadowed by cautious budgeting. Due to hesitant customers, certain housing qualities are prioritized over environmental work. The strategic work is in many cases strongly interconnected with housing policy outcomes, where the study concludes that building regulations need to be clarified. The democratic process through the planning monopoly challenges the companies' demand for flexibility in the zoning planning process. Something that is also demonstrated in the study is the opportunity to take advantage of the innovation potential created during a recession. In a time of a pressured economy, companies can care for their projects further and streamline their operations to be better equipped to handle the crisis.