Abstract The purpose of this study is to examine whether the profitability and capital structure of Swedish real estate companies changed during the period following the financial crisis of 2008 and the gradual introduction of stricter credit conditions, using 2010 as an analytical breakpoint. The study analyzes 73 Swedish real estate companies during the period 2005–2015 and compares the development in 2005–2009 with the development in 2010–2015. Profitability is measured through return on assets (ROA) and return on equity (ROE), while capital structure is measured through the debt-to-equity ratio and the interest coverage ratio. The study is based on secondary data from Retriever Business and is analyzed using descriptive statistics, paired t-tests, correlation analysis, and multiple linear regression. The results show that ROE and the debt-to-equity ratio decreased on average after 2010, while ROA remained more stable over time. However, the paired t-tests show that the differences between the two periods are not statistically significant at the five percent level. The regression results do not provide clear support that the period after 2010 itself explains changes in either ROA or ROE. However, the results show that the interest coverage ratio has a positive relationship with ROA, and that the interaction between leverage and the period after 2010 has a negative relationship with ROE. This indicates that the relationship between leverage and return on equity is more negative after 2010. The study concludes that the results show certain descriptive changes in the profitability and capital structure of Swedish real estate companies after 2010, but that these changes should be interpreted with caution. Since credit conditions are not measured directly, the study cannot establish a causal relationship between stricter credit conditions and profitability. The study contributes by highlighting how the key financial ratios of capital-intensive companies may be associated with changing financing conditions, while emphasizing the importance of distinguishing between statistical relationships and causal effects.