Swedes get wealthier in 2010

Swedes’ personal wealth increased 2.8 percent to 6,990 billion kronor in the first quarter of 2010, according to SEB bank. The figure means Swedes are richer than ever before.

The rise is due mainly to rises in the stock market and house price increases. Households’ total debt now corresponds to 26.8 percent of their assets, somewhat lower than previously.

The Stockholm stock market rose by 8.6 percent in the first quarter; Swedish house prices grew 1.1 percent.

The figures mean that falls in wealth measured in 2007 and 2008 have now been entirely recovered.

“Continued stock market rises and rising house prices have strengthened households’ wealth situation,” said SEB personal finance economist Gunilla Nyström.


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