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February 9, 2012
Peak prices for Swedish mountain holiday homes
Published: 2 Feb 10 18:27 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/24748/20100202/
Mountain lodges in a prime Swedish ski resort have grown in value by a whopping 153 percent since 1991, new figures show.
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A holiday home by the slopes today costs an average of just over one million kronor more than it did in 1991, according to statistics compiled jointly by the Association of Swedish Real Estate Agents (Mäklarsamfundet) and property assessment service Värderingsdata.
"By and large this price development applies to many of the larger, well-established Swedish ski resorts," said Claudia Wörman, an analyst at the Association of Swedish Real Estate Agents, to news agency TT.
Holiday homes in the mountains were not immune to the carnage caused by a financial and property crisis that ravaged Sweden in the early 1990s. But prices began to recover after a few years, and since the turn of the millennium all indicators have taken a steep upward turn.
"There really has been a remarkable development in prices," said Wörman.
"We are a people that likes to ski, but it is of course also possible to travel to the mountains during the summer."
An increase in opportunities for renting out holiday homes is also believed to have contributed to the price hike.
But despite the pleasures of careering down the slopes and indulging in after-ski activities, serious investors would have been better advised to stick to the stock exchange, which rocketed in value by 500 percent over the same period.
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With inflation at 5% per annum it will take just over 14 years for prices to double. So a 153% increase over 19 years is just about keeping ahead of inflation (assuming an average rate of 5%).
Now when we throw in refurbishments, renovations and a general improvement in the standard of buildings, fittings and in-house utilities I think we can safely say that these house prices have not outpaced inflation.
Back to the topic.... well said too tiddler