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Stockholm flat as Swedish property prices climb

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14:01 CEST+02:00
The price of apartments in Sweden will continue to rise over the next three months, according to statistics from the industry organisation Mäklarstatistik. The forecast comes after a 15 percent increase in prices already this year.

The market is hot for houses too. Mäklarstatistik's figures show an increase of 10 percent this year and further rises are predicted.

However, the market in Stockholm appears to be showing signs of cooling off. Apartments have fallen in price in recent weeks, while house prices in the Swedish capital have flattened out.

"The prices for flats in central Stockholm have shown a tendency to decline in the last month - it's too early to talk of a break in the trend," wrote Mäklarstatistik in a press release.

In the last twelve months, the prices of apartments in the greater Stockholm area have risen by 17 percent. In Malmö the figure is 18 percent, while flats in Gothenburg have risen by a more modest 11 percent.

"Increased interest rates and declining property tax cancel each other out to a great extent," commented Lars Kilander, managing director of the Association of Swedish Real Estate Agents.

"Despite increasing running costs, the price of apartments in general are expected to continue rising, but at a slower rate."

Tuesday's figures from Mäklarstatistk were based on the sales of 12,255 apartments and 13,207 houses during the period June to September 2006.

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