Swedish households wealthier than ever
Published: 20 Dec 10 15:39 CET | Print version
Online: http://www.thelocal.se/30968/20101220/
The net worth of Swedish households grew by 244 billion kronor ($35.58 billion) to 7.26 trillion kronor in the third quarter, the measure's highest nominal level ever, according to a new SEB study.
- Riksbank raises interest rate by 0.25 percent (15 Dec 10)
- Swedish inflation accelerates in November (9 Dec 10)
- Swedish jobless funds 'among OECD's worst' (7 Dec 10)
"The strong stock market and the continued rise in housing prices are a couple of explanations for the increase in wealth during the quarter," wrote SEB private economist Gunilla Nyström in a statement on Monday.
During the quarter, the Stockholm Stock Exchange rose 9.7 percent, while Swedish housing prices increased 0.9 percent.
The net worth of Swedish households reached its highest nominal levels ever in the quarter, but have not yet reached the previous peak achieved in the second quarter of 2007 in actual terms.
In terms of valuation in kronor, households as a group have never been richer than they are now. However, in real terms, current levels of cumulative capital are still about 20 billion kronor shy of the total household wealth levels reached in the summer of 2007.
However, household loans continued to grow strongly during the quarter, increasing 8.3 percent from last year, the same level as the previous quarter.
"Sweden has strong growth, unemployment is falling back, the stock market has risen and a large majority of households believe in rising or stagnant house prices," said Nyström.
"In this environment, The ROT deduction for home renovations is attractive and the still-low interest rates for households to take out new loans for renovations," she added.
What do you think? Leave your comment below.
Solna voted best place to live in Sweden
Solna, a suburb just north of Stockholm, is the best place to live in Sweden, according to a new ranking published on Friday by Swedish news magazine Fokus. READ () »
Ikea founder rated fifth richest in the world
Ingrad Kamprad, the founder of Swedish furniture giant Ikea, finished fifth on the Bloomberg Billionaires Index published on Friday, with an estimated fortune of $55.6 billion. READ () »
LinkedIn profile lands Swede with hefty tax bill
A Swedish man is facing a five-million kronor ($750,000) add-on to his tax bill after the authorities took a proper look at his account on the professional networking site LinkedIn. READ () »
India in no rush to open first Ikea store
The first Ikea store to open in India may not be ready for years, with the India head of the Swedish furniture giant prepared to wait until the the perfect location is found for the first of the 25 planned stores. READ () »
H&M CEO to Bangladesh: raise minimum wages
H&M CEO Karl-Johan Persson has urged Bangladesh to raise its minimum wage, adding the Swedish fashion giant is "willing to pay more" in the wake of a garment industry disaster which killed more than 1,100 people. READ () »
Pensioners to recruit ageing Swedish rockers
The Swedish Pensioners Association wants to cast off its "stuffy" image at the Sweden Rock festival, in a recruitment bid to set up a rock music subgroup of new members. READ () »
Sweden plummets in income equality ranking
The living conditions of most Swedes have improved in recent decades, but income inequality is growing rapidly, according to a new OECD report, which saw Sweden drop 14 spots from its first place ranking in 1995. READ () »
Swedish shop hits back: our Converse are real
Swedish retailer Coop has refuted complaints by US sneaker brand Converse that Coop stores are selling unauthorized pirated copies of the iconic footwear. READ () »
Young Swedes forced to live with mum and dad
More than half of Swedes in their twenties are stuck living at home with their parents in major metropolitan areas, with observers blaming politicians for abdicating any responsibility for dealing with lack of housing. READ () »
Converse in bid to ban 'fake' shoes in Sweden
Legendary US sneaker brand Converse has asked a Swedish court for permission to search outlets of Swedish retail chain Coop in a bid to clear near-perfect pirated copies of the iconic shoes off the shelves. READ () »
- 10/05 ABB executive to quit after five-year tenure »
- 10/05 Borg defends critique of strong Swedish krona »
- 08/05 EU green lights Volvo and Dongfeng merger »
- 08/05 Sweden sells toxic Baltic salmon to EU: report »
- 07/05 Swedish app lets 'everyone' write music »
- 07/05 'Invisible thread' can help fight fashion pirates »
- 06/05 The British barber a cut above the rest »
- 06/05 Government locks horns with opposition over jobs »
- 03/05 Spotify snags Swedish music app Tunigo »
- 03/05 India seals Ikea's emerging-market push »
| 19/05 | Account Manager Sweden | Sollentuna |
| 19/05 | Lead Software Engineer, Environment | Linköping |
| 19/05 | Management Consultant to Global Business Services Advisory Services with Shared Services and Outsourcing Advisory experience | Stockholm |
| 19/05 | Manager for Application Management | Stockholm |
| 19/05 | Manger Intern Sales & Customer ServiceThule Group | SKÅ |
| 19/05 | Nordic Sales Executive Platform Computing | Kista |
| 19/05 | Quality Engineer | Stockholm |
| 19/05 | Senior Consultant | Stockholm |
| 19/05 | TCMS Software Engineer | Västerås |
| 18/05 | C++ Developer | Stockholm |
- 18/05 Economists warn against German euro exit »
- 17/05 Germany cool to France's EU economy plan »
- 17/05 Au pairs rules relax for non-German families »
- 16/05 Germany refuses to slam French economic policy »
- 16/05 Capri-Sun drink wins false advertising award »
- 15/05 Anaemic economy feels winter chill »
- 15/05 ThyssenKrupp bins 3,000 admin jobs »
- 15/05 Pay deal for metal workers averts strike »
- 14/05 First ever strike hits Amazon's German unit »
- 14/05 Volkswagen plans giant car plant in China »
- Manger Intern Sales & Customer Service
- Account Manager Sweden
- Lead Software Engineer, Environment
- Management Consultant to Global Business Services Advisory Services with Shared Services and Outsourcing Advisory experience
- Manager for Application Management
- Nordic Sales Executive Platform Computing
- Quality Engineer
- Senior Consultant
- TCMS Software Engineer
- LCI Coordinator
- 01:40 Something you dont know about SWEDEN
- 00:57 Acting workshops or courses in English
- 23:35 Need to help to choose the best place.
- 23:06 E-cigarettes / Snus Recommendations.
- 22:03 Are Swedish girls "off limits" for...
- 21:52 Where to buy rubbing alcohol?
- 21:10 Marriage in Sweden-Need URGENT help
- 19:19 Summerburst 2013 festival
- 17:45 Does any business owner needs a partnership
- 15:33 What does Lagom really mean?
Create an account with Banc De Binary, the world’s most reputable binary options firm, and start cashing in today! You can start by practicing with our free $50,000 demo account.
www.bbinary.com
Expat counsellor & talk therapist offers counselling for stress, relationship issues, sexuality, culture adjustment & life coaching. Private & confidential. Stockholm or Skype. Contact me today! 08-559 22 636 or
CLICK HERE
Casa Birgitta in Algarve, Portugal. Reduced price in best location. Private estate on white sand beach. All amenities included. Book here today! edward_george1@hotmail.com
Find products and services that are specifically focused on English speakers living in Sweden!
FULL DETAILS
Individuals & Couples - Stockholm Beth Rogerson PhD - Clinical, Marriage & Family Therapist
Click or call 08-5580 1266 now
Your comments about this article:
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated. Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.
Keep it up. Crash your economy.
State everything is wonderful because you are still at least 50cm away from the wall which you are travelling towards, at 200 Kilometers Per Hour.
Did anyone in Sweden even notice, when the Swedish economy crashed in the 90's?
I just don't get it!!
Who comes up with this data?
Most of that debt is external to Sweden, due to the Swedish banking system.
Eventually that debt has to be repaid.
Of course the downside is that few children means no future.
I see you spuing a lot of F.U.D on this website, Whats your angle?
To All lese, Just a quick remark Intrest = Proffit, offcorce the banks want the intrest rate to go up.
I say keep the intrest rate down and stimulate the economy. hell im planning on buying a house next year when I move back to Sweden .!
It is a travisty that the Swedish taxpayer foot the bill for example;
The recent wedding for the crown princess and her "Boxter" looking boyfriend.
The Royal family has their own private money, and using taxpayer funds to restore a church for that wedding was gross misapropriation of funds. This should be a proscecutable offense and they should be sued by the taxpayers to return all the money that was taken.
There a far more important issues that the tax money could have been used for in Sweden.
Also, to save more tax money, Sweden could end the monarchy and replace them with actors at scale wages, like Disneyland does for it's tourists having actors dress up like some of the Snow White storybook characters.