Apartment prices keep falling

Swedish apartment prices are continuing to fall and house prices have stagnated, according to figures published on Friday.

The value of apartments in central Stockholm fell by 9 percent in the past three months, with an average flat now worth 50,500 kronor per square metre, according to Mäklarstatistik, which compiles statistics on behalf of the real estate industry. The figure represents an increase of 12 percent since a year ago, but is a substantial fall compared with the highs of 56,500 kronor in August last year.

Prices in central Gothenburg and Malmö rose by 8 percent over the past twelve months, but fell over the past three months.

House prices are now ten percent higher than a year ago, but have stagnated during the past three months. In greater Stockholm, house prices rose 14 percent over the past year, and indications are that prices will remain stable over the coming months.

House prices in the Gothenburg area rose 7 percent over the past twelve months and are expected to keep rising over the coming few months.

The price of the average house in greater Malmö rose by 10 percent last year, and will continue to rise over the next few months.

Peeter Pütsep, CEO of estate agency Svensk Fastighetsförmedling, said that apartment prices in the cities would fall somewhat over the course of the year.

“We will see over the next few weekends how homebuyers are thinking,” he said.

“I think house prices will be quite stable this year and rise a bit in greater Gothenburg and greater Malmö over the next few months,” Pütsep said.

Properties in Sweden