Swedish Regulator Rebuffs Hemnet and Closes Case Against Rival Booli

Hemnet's attempt to enlist Sweden's competition regulator against state-owned rival Booli has come to nothing. The Swedish Competition Authority, Konkurrensverket, has closed the case without opening a full investigation, leaving the country's dominant property marketplace empty-handed.

The complaint dates to December 2025, when Hemnet asked the authority to examine Booli, which is owned by state-backed mortgage lender SBAB. Hemnet argued that public ownership gives Booli an unfair advantage and distorts competition in the market for housing adverts. When it lodged the complaint, Hemnet said it was happy to let the regulator handle the question.

Booli, founded in 2007 and built around free listings, has become the clearest alternative to Hemnet, which still handles roughly nine in ten Swedish home sales. That grip has long drawn scrutiny of its own, over pricing and market power, which is part of why the dominant player casting itself as the wronged party raised a few eyebrows.

Konkurrensverket did not agree. In its decision it said it had found insufficient indications of a competition problem harming either rivals or consumers, and so saw no reason to take the matter further.

Earlier this month Hemnet had pressed the regulator to rule before Sweden's new public-sales legislation takes effect on 1 August, and challenger portal Boneo backed a similar call. Both evidently wanted Booli's status pinned down before the new rules took effect. The authority moved quickly, just not in the direction either wanted.

For Hemnet, the setback arrives during an already awkward stretch. Its shares have shed more than half their value over six months and sit roughly 72% below the record high reached in March 2025. Fourth-quarter net sales fell 4.4% to SEK 348.1m, and published listings dropped 26.4% year on year, while agents have been drifting elsewhere. Booli's recent listings deal with agency group Fastighetsbyrån only adds to that pressure.

Hemnet said it was surprised and disappointed by the decision, according to Dagens Industri, and its shares slipped again on the news, hovering close to record lows.