* Net sales 142.5 mln crowns vs 115.3 mln last year<\/p>\n
* Sees Q2 sales above target range of 15-20%<\/p>\n
* High demand for houses and a low supply – CEO<\/p>\n
* Shares up 3% (Adds comments from CEO interview)<\/p>\n
STOCKHOLM, May 31 (Reuters) – Swedish online property listings firm Hemnet posted a 24% jump in quarterly sales in its first earnings report since going public, helped by demand for large apartments and houses with gardens as Swedes seek more space for home-working and leisure.<\/p>\n
Net sales for first quarter rose to 142.5 million crowns ($17.15 million) from 115.3 million a year earlier.<\/p>\n
Hemnet also sees second-quarter sales rising above the group\u2019s financial target range of 15-20% year-on-year.<\/p>\n
\u201cWe see a high demand for houses and a low supply,\u201d CEO Cecilia Beck-Friis said in an interview. \u201cThe demand for larger apartments or houses has increased as people want to have an extra room where they can work from home, for example, or they want to have a garden.\u201d<\/p>\n
Swedish house prices surged in 2020 and a recent report by Nordea forecast a further 9% growth in 2021.<\/p>\n
A growing number of sellers are also choosing to upgrade their listings, contributing to growth in average revenue per listing for Hemnet.<\/p>\n
\u201cWhen you sell your home, it\u2019s probably the most important transaction in your life, and you really want to ensure that you get the maximum exposure and interest in your home,\u201d Beck-Friis said.<\/p>\n
However, the number of published listings on Hemnet\u2019s website fell to 44,000 in the first quarter from 46,800 a year earlier, the company said.<\/p>\n
Beck-Friis said there were more sellers in March last year as people fearing a possible lockdown rushed to get their property listed for sale.<\/p>\n
Founded in 1998, Hemnet was acquired by General Atlantic and Sprints Capital in 2016 and is now Sweden\u2019s largest housing portal.<\/p>\n
The company\u2019s shares, which have nearly doubled in value since listing on Nasdaq Stockholm last month, were up 3% in early trade.<\/p>\n