• Sweden edition
 
Sweden's average home price at 'record high'

Sweden's average home price at 'record high'

Published: 07 Feb 2013 15:13 GMT+01:00
Updated: 07 Feb 2013 15:13 GMT+01:00

New housing figures reveal that would-be homeowners will be set back back 1 million kronor ($157,634) on average when buying a house anywhere in Sweden.

"All 21 counties now have an average price over 1 million kronor and that's the first time this has happened, I believe," Martin Verhage at Statistics Sweden's (SCB) told The Local.

Verhage said the developments were a surprise to the researchers, but pointed out that over the past two years, house prises in Sweden have crept up 2 percent nationwide.

SEE ALSO: Sweden's most expensive addresses

House prices increased in 17 out of 21 counties when compared to 2011. The counties that saw the biggest growth included Blekinge, Norrbotten and Uppsala - all of which shot up by 6 percent in 2012.

Decreasing house prices, meanwhile, were reported in three counties. The largest being in Gotland by 4 percent, followed by Kalmar at 2 percent.

As for the nation's most populated counties, prices in Greater Gothenburg and Greater Stockholm increased by 4 and 3 percent respectively, while prices decreased in Greater Malmö by 1 percent.

Sweden's highest average home price was in Stockholm, at just over 3.7 million kronor, with Västernorrland the lowest at just over 1 million kronor.

SEE ALSO: Check out the latest home listings in The Local’s Property Section

SEE ALSO: Find your next home with The Local’s Rentals Section

The Local/og

Follow The Local on Twitter

Don't miss...X
Left Right

Your comments about this article

19:15 February 7, 2013 by rohermoker
1 Millino Kr ($160,000) that is called AFORDABLE here in Minnesota. Prior to the price colapse it was not uncommon to see the "low" cost homes going for $250,000.
19:40 February 7, 2013 by bjorkon
Sadly in Sweden it will cost you more than that to build the average home due to massive labour costs. So in real terms a bargain!
20:43 February 7, 2013 by Beavis
1 million kr is still a bargain. compare it to Dublin where the average is still 3 million even after 60% has been knocked off due to a crash in Dublin Ireland, and those houses are made of cardboard
04:20 February 8, 2013 by AndrewDoyle
That is extremely cheap. Here in Perth, Australia you will not find a house near civilization under $300,000 and even then, you are going to be in a somewhat undesirable area or in a house that needs some serious renovations. Sweden truly has it good.
07:19 February 8, 2013 by just a question
This is the new slavery. Pay for the rest of your life a house that doesn't cost not even half of its price. It is happening everywhere. It could be worse, for example in Norway or Denmark houses are more expensive. The human being has been and will always be a stupid creature.
07:33 February 8, 2013 by karex
If it were just the housing prices increasing a bit it wouldn't really be a big problem. But taken into context, the situation takes on a different light. Fuel for instance, is not subsidized here as it is in the US. The labor costs are very high so are energy and worst of all food. Never mind the high taxes, all of which increase disproportionately with regards to wages. Sweden has never been known for being a country which is attractive wage-wise, and top that with salaries not keeping pace with the rise in the cost of living in recent years, the entire picture paints a difficult scenario.
10:04 February 8, 2013 by FlidmcFlid
Karrex (#6): I think you'd be surprised actually if you read the latest UBS report on wages in Sweden (specifically Stockholm) vs. take home wages and prices of goods and services within a country.

In the latest comparison of purchasing power around the world, UBS found that Stockholm (where New York was set at 100) had prices 91.9 of New York and if including rent 81.9 showing that prices are actually lower than New York. When take home wages are taken into account, Stockholm is 78.1 to New York (100). So in reality, Stockholm is slightly cheaper and people get paid slightly less than New York making it overall only slightly more expensive to the average family - and this is before social welfare supplements and other such indices are considered. The full report is listed on the UBS website. It also lists average salaries of various workplaces - which I think you'll find rather enlightening.
10:08 February 8, 2013 by ShaunD
Here in rural Dalarna the average price in the village where I live is around 380,000kr or $59,300 !!! Great if you purchasing a house but bad news if you are trying to sell one !
13:22 February 8, 2013 by karex
#7 Sounds interesting, but picking out large cities is not representative of the country. Stockholm and New York are cities where a large number of high wage earners concentrate. The rest of the country sees lower wages with equivalent costs. Fuel, energy, food and taxes are not lower in other places, but wages are. Plus social benefits are largely funneled to parts of society and in general terms not evenly spread. If you're not on temporary or permanent disability, unemployed, or bearing children you don't see much in terms of social benefits.
15:59 February 8, 2013 by Rishonim
The reality is that in the rest of the world when you buy a home you pay the loan premium while in Sweden you only pay the interest. In conclusion owning a home in Sweden is no big deal as it is affordable to anyone with a proper credit score.
16:08 February 8, 2013 by FlidmcFlid
#9. Of course it isn't totally representative, however, if you look at the matrix that UBS used to calculate their wages/costs you'll see they mostly calculated from low level white collar and blue collar jobs such as mechanics, factory workers and desk workers using their net salaries to judge whether prices vs. wages were unbalanced. Unless there is a massive difference between factory workers and teachers across the country (given that house prices and rent tend to be peoples largest outgoings along with transport and food) I find it hard to believe that the average person wouldn't be better off outside big cities than in them, hence why they focus on the most expensive parts of the country. I know that in my line of work I'd be paid the same or more outside Stockholm and my outgoings for transport and accommodation would be less.

As for social welfare, medical care falls under that umbrella too, don't forget. That is a massive outgoing for many households without socialised medicine.
15:52 April 13, 2013 by zcotty
These are riduculous prices when compared to Sweden's neighbor Finland. You have to go out pretty far into nowhere to get a crappy house for 120 000 €.
Today's headlines
Florida 'mystery knight' dies in Sweden
Michael Boatwright (R) and Medieval knight re-enactors.

Florida 'mystery knight' dies in Sweden

The "motel mystery" American who baffled US authorities by only speaking Swedish when he woke up from a coma last year has passed away, Swedish media reported on Wednesday. READ () »

Swedes open coffin of 850-year-old king
Photo: Bertil Ericson/TT

Swedes open coffin of 850-year-old king

UPDATED: Scientists pried open the 850-year-old casket of King Erik the Holy on Wednesday, hoping to find out more about the king, his crown, and his eating habits. READ () »

TeliaSonera announces first-quarter profit drop
TeliaSonera CEO Johan Dennelind. File photo: TT

TeliaSonera announces first-quarter profit drop

Stockholm-listed telecom operator TeliaSonera on Wednesday said profits had fallen in the first quarter, but hoped offering customers more data solutions in the future would turn things around. READ () »

'Imperfect EU better than revolting nationalism'
Fredrik Reinfeldt. File photo: TT

'Imperfect EU better than revolting nationalism'

Swedish Prime Minister Fredrik Reinfeldt on Wednesday urged young voters to head to the European parliamentary polls on May 25th "to cure the European disease of nationalism". READ () »

Ericsson quarterly profit defies sluggish sales
Ericsson CEO Hans Vestberg at the first quarter press conference. Photo: TT

Ericsson quarterly profit defies sluggish sales

Swedish telecom giant Ericsson on Wednesday announced a drop in sales but posted a sharp rise in first-quarter profit, which nonetheless fell shy of analyst predictions. READ () »

Fatal Norrköping brawl
Four brothers held as cops fear brawl reprisals
Photo: Johan Nilsson/TT

Four brothers held as cops fear brawl reprisals

Swedish police fear that several people involved in a brawl in eastern Sweden on Monday night may be seeking revenge after two brothers were shot dead. READ () »

Sponsored Article
Beautiful pearls of southeast Sweden
The town of Västervik.

Beautiful pearls of southeast Sweden

Ask a Swede, and they are likely to say that their favourite holiday spot is in the southeast of Sweden. Eastern Småland and Öland offer a smörgåsbord of all the things dearest to the Swedes - from the beloved children's book author Astrid Lindgren to deep forests, long sandy beaches, perfect spots for that all-important 'fika', and a surprising amount of space, peace and quiet. READ () »

Weekend weather to bring summer warmth
Swedes enjoy hot dogs and cherry blossoms in Stockholm's Kungsträdgården. Photo: Jessica Gow/TT

Weekend weather to bring summer warmth

The sun is set to stick around and temperatures could climb into the twenties over the weekend, Swedish meteorologists said on Wednesday READ () »

'Day-care rapist' admits molesting eight kids

'Day-care rapist' admits molesting eight kids

A 21-year-old man confessed on Wednesday to sex crimes against eight children at a day care where he was working as an intern. READ () »

Swedish cops nab man for having big muscles
An unrelated bodybuilder. File photo: Ann Törnkvist

Swedish cops nab man for having big muscles

Police in Sweden's south who hauled a muscular man in for steroid testing have had their knuckles rapped, after it was ruled that big biceps cannot be grounds for narcotics suspicions. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
TT
Gallery
Inside the 850-year-old king's coffin
Features
Sponsored: South-eastern Sweden offers Öland beaches and more
Gallery
Swedish underwear shop puts staff in front of the camera
Gallery
IN PICTURES: The Local's Property of the Week - Täby
Sponsored: India+Sweden Week - India Unlimited
Features
Sponsored: India+Sweden Week - A film, food, and finance feast
National
University applications rocket to record high
finest.se
Gallery
People-watching April 18-20
TT
Society
Kids in Victorian garb mark Swedish Easter
Shutterstock
National
Swedish MP ordered chemtrail probe
Society
Swedish supermarket Ica pulls contested Easter commercial off air
Kungahuset
Society
Swedish royals set baptism date for princess
finest.se
Gallery
People-watching April 16
Advertisement:
Politics
Who's the prime minister's heir?
Alfie Atkins
Society
Are children's books the key to families integrating in Sweden?
National
'Sweden Dem protests cater to party's martyr image'
National
'Swedish research grants were fantastic, but now it's like Australia'
Society
Only in Sweden: The ten problems you'd never encounter elsewhere
National
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
YouTube
Features
Video: Oliver Gee finds out how to embrace The Swedish Hug
TT
National
Abba duo hints at reunion
Private
National
Flash mobs hug it out across Sweden
Finest.se
Gallery
People-watching April 11-13
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

718
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com