[The Real Estate is a] bracingly grotesque character study, which explores the Swedish housing crisis from the point of view of the new owner of a run-down tower block […]. A tour-de-force performance from Léonore Ekstrand, as Nojet, the 68-year-old party girl who inherits the block from her father, is compellingly monstrous. And the filmmakers, Axel Petersén and Måns Månsson, display technical flair.
Nojet returns to Sweden, after a lifetime of self-absorption in Spain, to claim her inheritance. But the cash cow she expected turns out to be run down and disastrously managed by her half-brother and his alcoholic son. […] Tonally, [the film] has elements of Ulrich Seidl at his cruellest and least forgiving, combined with a lurid B movie bombast.
Nobody in this film has a good side. Aggressive as it is as an aesthetic decision however, the brutal photography serves to highlight the monstrous qualities of the people who lurk within the film. The sound design is particularly notable. Dialogue is constantly assaulted by the sounds of helicopters, tannoy announcements and crackle of perpetual low level discord. It works seamlessly with a malevolent electronic score which at times sounds like it was written by a psychopath with a collection of power tools.
Wendy Ide, The Hollywood Reporter