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PRESENTED BY INVEST STOCKHOLM

Can we transform our habits for the better post-coronavirus?

It’s often said that human beings are creatures of habit. But in 2020 the rhythms and routines that guide our professional and personal lives have been completely upended.

Can we transform our habits for the better post-coronavirus?
Photo: Erik Fernholm by Therese Winberg Photography

We’ve been forced to find new ways of organising ourselves, staying productive and acting with purpose. In Stockholm, a city that prizes equality, trust and vision, both individuals and businesses are quick to engage with such themes – and to think about their long-term potential. 

What trends in work and home life could help to positively shape the post-coronavirus world by transforming some of our habits for the better? In this article, part of a series on ‘Imagining the post-coronavirus world’, we look at some of the changes being made by and inspired by Stockholmers. 

Understanding why behaviour goes viral

“Very few people know that behaviours spread just like viruses,” says Erik Fernholm, CEO of Stockholm-based 29k. “We shape each other constantly and we always have.”

The non-profit organisation offers personal growth programmes through a free app used by 40,000 people in more than 150 countries. Users are put in small groups and learn through scientific insights from the likes of the Karolinska Institute and Harvard University, as well as chat and video sessions where people open up about their experiences and challenges. 

Three new programmes focused on anxiety, relationships and meaning were released in the app in response to coronavirus.

Interested in Stockholm’s vibrant tech and startup scene? Find out more from Invest Stockholm 

Fernholm, whose background is in neuroscience and happiness research, says we influence our peer group in everything from gaining weight to whether or not to vote. That makes the choices we all make during our current challenges vital.

“The worst thing is that people feel they are passive passengers,” he says. “What usually drives deep transformation is a crisis. For maybe the first time in history we can look at where our trajectory was going and ask ‘Are we proud of that?’ ‘Do we want to change that in any way as individuals and as companies?’”

Hannah Boman, from Stockholm, has completed two 29k courses this year. She says the app has not only helped her but has also led to friends thanking her for opening up more profound conversations.

Photo: Hannah Boman

“None of the superficial stuff mattered,” says Hannah. “We were in a little bubble. Everybody poured their hearts out and you learn about yourself through listening to other people. 

“It helped me understand the phases I’ve been through during this crisis, focus on self-care and have deeper conversations with friends. My group also talked about working from home and the importance of taking a walk, of nature, or of doing yoga or meditation.”

Working from home: why flexibility demands responsibility

Working remotely has been a topic of growing significance for a few years. But now it seems central to the future of work in many knowledge-based industries.

Stockholm is known for its progressive attitude towards work-life balance. But also for an understanding that flexibility in professional relationships requires a correspondingly high sense of personal and collective responsibility. 

Find out more about the new work culture at Stockholm’s tech firms

“The fact that Swedes inherently have high levels of trust in others is especially relevant now,” says Meredith Popolo, of Trustly, the Stockholm-based payments innovator. “When there’s widespread trust among colleagues and leaders, we all hold ourselves more accountable to do our best work.”

Coronavirus prompted Trustly to bring in a remote work expert who offered guidance on scheduling, ergonomic workspaces and dealing with distractions. Some teams have seen rising productivity, says Popolo, and Trustly is seeking to understand if that’s due to working from home or new workflows introduced shortly before coronavirus.

Personally, she has benefited from the Pomodoro Technique for time management. “I focus on a task for 25 minutes, break to do three minutes of dishes, then repeat,” she says. “My work is better quality when I’m fixated on a single task for a set period of time, plus my house is a little cleaner by the end of the day!”

Photo: Meredith Popolo of Trustly

Fernholm says many people think they must be hard on themselves to perform – but in reality that can be emotionally draining.

“Users of 29k have changed their relationship to their mistakes and how brave they are,” he says. “People say they are more motivated and do better at work but at the same time feel less pressured because they are not as obsessively judging themselves.” 

Video meetings: valuing the informal

Video meetings are a crucial aspect of new working patterns. But Fernholm warns they could be counterproductive if they are too narrowly focused.

“If we aren’t honest with each other when we feel hurt in a communication, people can lose energy from video calls,” he says. “There’s less chance that you feel seen.”

Popolo, Trustly’s Head of PR and Communications, says good communication is now more important than ever. That means knowledge sharing but also finding informal ways to replace chatting with colleagues as you “stroll around the office”.

“In video calls with fewer than ten people, we encourage employees to keep their microphones on to inspire spontaneous comments and questions – unless there’s a siren or barking in the background, of course,” she says. 

Read also: Imagining the post-coronavirus world: six Stockholm traits that offer rays of hope 

Meaning in ‘post-traumatic growth’

The name 29k refers to how long we live for on average: around 29,000 days. Fernholm says the current crisis has led to spikes in anxiety and loneliness and he believes market economies encourage “selling solutions for symptoms” rather than root causes because “a ‘fixed’ customer is a bad customer”. 

But he also sees some hopeful signs of people seeking greater meaning, wellbeing and connection.

“I’ve discovered another dimension of humanity,” says Hannah Boman, reflecting on her experience with 29k. “It’s been so important during this time but also something I want to keep as part of the ‘new normal’.”

Fernholm says the intention with 29k, which was initiated by Norrsken Foundation and the Ekskäret Foundation, both based in Stockholm, is to provide “scaffolding” to help individuals mature into “wiser decision-making”. That, he believes, is the only true way to address global problems from inequality to climate change.

We are all now familiar with post-traumatic stress disorder. But Fernholm says research suggests “post-traumatic growth” could be equally as common. 

“These people are happier, more values-driven,” he says. “They learned a lot about who they are, what they want to contribute to and they’re now using the trauma to live more purposeful lives. Research shows that safe and non-judging relationships are the catalysts of these effects, which is what we built the platform for.”

As our collective shock subsides and another video call approaches, perhaps we can all find ways to grow through new habits as we begin to create the post-coronavirus world. 

Did you know that Stockholm is recognised as one of the world’s most innovative regions? Find out more about this start-up hub and let its official investment promotion agency help you get connected.

This article was produced by The Local Creative Studio in partnership with Invest Stockholm.

 
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PROPERTY

Should you buy a home in Sweden this summer?

Considering the fickle trends in the Swedish housing market, prospective homebuyers might find themselves at a crossroads this summer.

Should you buy a home in Sweden this summer?

After a period of falling prices driven by increased interest rates, the Swedish housing market is seeing a rebound, particularly in the biggest cities.

However, it’s also taking longer to finalise home sales.

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Recent data from Swedish property listings site Hemnet indicates that while home sales – and housing prices – are on the rise, the time to complete transactions has notably increased.

For instance, the average sale time for an apartment in Sweden increased to 27 days in the first half of the year, up from 22 days during the same period last year. Similarly, houses now take an average of 31 days to sell, compared to 30 days previously.

The slowest market is in the Gävleborg region, where it takes an average of 44 days to sell a home. The fastest transactions occur in Stockholm, with apartments selling in just 16 days and detached homes in 23 days.

This variation in market activity across the country calls for a deeper look into where the best opportunities might lie for homebuyers this summer.

Renewed market confidence in Sweden’s biggest cities

The confidence in the Swedish property market is on its way up in Stockholm, Gothenburg, and Malmö, Erik Holmberg, a market analyst at Hemnet, told The Local.

“I would say that we have seen a weaker market in the last couple of years, almost everywhere in the country, since the Swedish central bank started to increase the interest policy rate, which affected the market a lot,” he said.

“But in the last half of the year or rather in the last year, the confidence has come back in bigger cities – in Stockholm, Gothenburg, Malmö… When we look at price developments last year, in three of Sweden’s biggest cities, we see prices increasing again.”

However, the analyst warned that the opposite is currently true in other areas of the country, which have seen a continued decrease in market activity and flatter developments in the same time interval.

A new trend emerging in Stockholm?

As Hemnet’s analyst explained, in Sweden, housing market trends usually start in Stockholm, when the market begins to change, causing a ripple effect.

“And that’s what we have seen. Now, market activity and prices are increasing again in the bigger cities. Usually, when the market changes, other areas in the country follow, and that could be the case now,” said Holmberg.

“When the rates and inflation situation become clearer, other parts of the country might follow the market in the big cities. Our main scenario is that we will see this spread,” he said, adding that prices in Stockholm have picked up quite fast in the last year but that the demand is still affected by the high interest rates.

“I wouldn’t be surprised if we saw swift price developments in some areas with the highest demand, such as city centres.”

The effect on the rental market

Another aspect to consider is the rental market, which could see significant changes in the short to mid-term.

Holmberg pointed out that properties which fail to sell might enter the rental market.

“What we’ve seen is that it’s harder to sell properties today, so, probably, more people who own homes and can’t sell them will put these unsold homes on the market for a while. This could affect the supply of apartments for rent and, in turn, prices,” the analyst said.

INTERVIEW:

What different types of homebuyers should know

For buyers, the current market presents a mixed bag.

“In Sweden, we often talk of having a seller’s or buyer’s market. Today, it’s good for buyers that they have a lot to choose from; there’s a record-high supply almost everywhere in the country. That means it’s easy to find something,” said Holmberg.

However, he also cautioned that the slow market makes agreeing on terms with sellers challenging, with sales times at record highs.

“Sales take some time in today’s market, and that’s important to understand for both sellers and buyers, especially for homeowners who are changing homes, meaning they’re both buying and selling something; it’s a tough market for them.

“Today, this group often chooses to sell their home before they buy something new. That makes up a big part of record high sales times; we have people waiting for the right bid before moving from the selling to the buying side…” Holmberg said, noting that the market is different compared to two to three years ago when it was “very hot”.

“So, remember that even if prices grow, it’s still a tough or slow market.”

READ MORE:

On the other hand, first-time buyers might find a silver lining in the form of lower prices compared to a couple of years ago, making it a potentially favourable time to enter the Swedish housing market.

“First-time buyers are in another situation, which may be better because the prices are lower than two years ago, of course, and if you’re just buying something, you don’t need to worry about the selling part,” Holmberg told The Local.

“That’s why this could be a good situation to enter the housing market this summer, but even so, despite supply being really high, it could still be tough because many sellers have put down a listed price but don’t necessarily plan to sell at this price.”

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