Swedish home prices rise despite slow growth
Published: 16 Jan 13 09:05 CET | Print version
Online: http://www.thelocal.se/45640/20130116/
Home prices in Sweden continued to rise in 2012, despite concerns about growing unemployment and sluggish economic growth.
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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.
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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?
- 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.