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Swedes face big hit if rates rise

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18:26 CEST+02:00
Swedes could take a big hit if house prices were to fall sharply, or if interest rates were to climb, a report by credit rating agency Fitch Ratings says.

Sweden was listed by Fitch as the fifth most vulnerable country due to a combination of overvalued property and high consumer debt.

Several years of skyrocketing house prices and heavy borrowing means the economy could find itself in a tight spot if the situation were to change suddenly.

New Zealand, Denmark, the UK and Norway were in a more vulnerable position than Sweden, while house prices were lowest compared to incomes in Japan, Germany and the Netherlands.

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The ‘fairytale' boarding school nestled in a Swedish village

The words ‘boarding' and ‘school' often summon images of strict teachers, drab dormitories and downcast children. That image couldn't be further from reality at Sigtunaskolan Humanistiska Läroverket (SSHL), where boarders describe the ‘fairytale' school as a home away from home.