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Swedish home prices rise despite slow growth

Swedish home prices rise despite slow growth

Published: 16 Jan 2013 09:05 GMT+01:00

Prices for tenant-owned apartments (bostadsrätter) jumped up 8 percent last year, compared to 2011, while prices for single family housed crept up a more modest 2 percent.

In December, however, prices for both houses and apartments had fallen by 1 percent nationwide.

"After 2011's dip for tentant-owned flats, we saw prices went up for all of 2012, despite financial uncertainty, a large supply, and longer selling times," Peeter Pütsep, head of real estate agency Svensk Fastighetsförmedling, said in a statement.

He added that price increases were most significant in Stockholm and Gothenburg, saying that trends in 2013 will likely mirror those of 2012, as long as Sweden isn't hit with major job losses.

Currently, the average price for a house in Sweden is around 2.1 million kronor ($323,400), while the median price in the Stockholm area is 3.8 million kronor.

In the Gothenburg area, houses cost 2.9 million kronor on average, the same as average house prices in Malmö.

TT/The Local/dl

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Your comments about this article

11:30 January 16, 2013 by riose
Median is not a synonym of average, TL.

I just performed a quick search on a real state site, and there is almost twice as many houses in Sthlm area under 3.8M than over it. Definitely not median. Maybe average.

Sources?
12:59 January 17, 2013 by bjorkon
- House prices are purely based on how much the bank will lend people.

- Banks have been getting looser with money, and overall rates have continued to come down in 2012.

- When rates go up, or if they change rules on repayments (most people I know only pay the interest!) the prices will go straight back down again.

Simples.
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