• Sweden edition
 

Swedish house prices top two million barrier

Published: 17 Mar 2010 11:09 GMT+01:00
Updated: 17 Mar 2010 11:09 GMT+01:00

The price of the average Swedish house has passed the two million kronor ($300,000) mark for the first time new figures from Statistics Sweden (SCB) show.

The new record high has been recorded after an upswing of 2 percent over the period December 2009 -January 2010, according to an SCB statement on Wednesday.

Price variations remain substantial across the country however with average prices in Västernorrland in northern Sweden currently under one million kronor, the only county under the mark. At the other end of the scale, in Stockholm, average houses were worth 3.652 million.

While the big city areas of Stockholm, Gothenburg and Malmö have experienced strong 3-4 percent growth over the quarter, the counties of Kronoberg, Halland and Västernorrland recorded the highest climbs, of around 5 percent.

Only three counties recorded price falls during the period - Södermanland, Jönköping and Örebro.

Over the past year Sweden has seen average house prices climb by 9 percent, in comparison with the previous 12 month period.

The big city regions of Stockholm, Gothenburg and Malmö have performed strongly despite the deep recession and rising unemployment.

"The largest percentage change is in Stockholm with 13 percent, closely followed by Halland and Västernorrland with 12 percent each. A study of the big city regions [...] shows price rises of between 13 and 14 percent," wrote SCB.

Peter Vinthagen Simpson (news@thelocal.se)

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Your comments about this article

16:00 March 17, 2010 by BCR
How come Swedes find it acceptable to have house price inflation in the order 5 to 10% per year, but when it comes to the annual salary negotiations, their eyeballs explode at the idea of pay rises above what has been set by some random bunch of socialist do-gooders?

I feel sorry for the next generation of house buyers who will be locked into huge house loans and enslaved to the "interest only" repayments for the rest of their natural lives.

Good luck!
12:05 March 19, 2010 by rumcajs
I am not communist in case some idiot wanna call me that, but housing should not be part of the casino crap we live in.

If you play with prices of cars, alcohol, fun, or any of those kind of things, one just doesn't buy them. But when you play with the prces of housing, one cannot just say "I don't need it". I think everybody (apart from the banks and people making the houses) is fed up of expending the 50% or even 70% of their salaries in the mortgage or rent in one second every month. And yes, ... as BCR said they wanna make us slaves. We work for paying a dept for money made out of nowhere, but nothing changes just because it's good for the system to have all of us in dept and most of people just don't have a clue how it works. What's the diference between a bank and a nobody who makes "fake" notes??? What makes thos fake notes fake? Nothing. The bank has the "licence" to make them, but both of them are made out of nowhere and without any relation to the goods available in the world. The money to pay the interests doesn't even exist!!!
13:02 March 20, 2010 by tigger007
you two guys make a really good point! you do both know that debt runs the us and swedens economies. without debt no wealth! if more people stayed free from debt economies would fall(U.S.A.)
00:09 March 22, 2010 by americanska
tigger, if you are saying that leveraged money creates wealth...yes.

however, too many people get over extending on homes because they think it's an investment. it's not, it's a dwelling.
10:56 March 22, 2010 by Marc the Texan
Here's a fact for ya. Productivity creates wealth. Period. Not money.

@rumcajs, no offense, but your ideas are half-baked. Literally. Your original points may sound reasonable to the economically untrained, but if you follow those threads through to their logical conclusions, you will realize how flawed they are.
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