Apartment prices take a tumble

After a long period of sustained growth, apartments in Sweden have now begun to drop in value, according to figures released by Mäklarstatistik.

Apartment prices take a tumble
Photo: Tuey

While the cost of apartments has risen by 21 percent over the last year, the last three months have seen prices drop.

Statistics show that apartment prices in Stockholm city centre have fallen by three percent since August.

“The situation is difficult to predict,” said Lars Kilander, CEO of the Association of Swedish Real Estate Agents, in a statement.

“Interest rate hikes, an unstable environment and inaccessible political decisions can be weighed up against tax cuts and an economy that remains strong,” he added.

Houses have gained 13 percent in value over the last twelve months.

The quarterly statistics are based on the sales of 15,673 apartments and 15,080 houses in the August to October period.

The average price of an apartment in central Stockholm is 54,126 kronor per square metre. Prices in central and suburban Gothenburg and Malmö have remained stable over the last three months.