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Swedish flat prices continue upward climb

The Local · 14 Oct 2010, 13:52

Published: 14 Oct 2010 13:52 GMT+02:00

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Apartment prices have also risen at the same pace in the last quarter in central Gothenburg compared with a year ago, according to sales statistics from real estate companies Fastighetsbyrån and Svensk Fastighetsförmedling and the Association of Real Estate Agents (Mäklarsamfundet).

The figures are published on the Mäklarstatistik real estate statistics website.

"The housing market for the country as a whole can be described as stable, especially regarding house prices. However, there are regional differences with discrepancies going both up and down," Peeter Pütsep, CEO of Svensk Fastighetsförmedling, said in a statement.

"Apartment prices in central Stockholm and Gothenburg are now back at 2007's peak levels. Apartment prices tend to fluctuate more than house prices."

House prices across the country grew 1 percent in September compared with the previous month, with an average home costing 2.21 million kronor ($337,000).

"The parliamentary elections, mortgage lending ceiling, and interest rate hikes appear not to have affected house prices in any significant way so far. As for the mortgage ceiling effect, we need to wait a couple months to see if and how it has affected prices," said Pütsep.

While the prices of apartments remained flat overall across the country between August and September, prices rose 2 percent in central and greater Stockholm, 1 percent in central Gothenburg and 2 percent in greater Gothenburg. In central Malmö, prices rose 5 percent, but remained flat in greater Malmö.

Story continues below…

The price per square metre for a flat in central Stockholm has reached 56,152 kronor, 34,113 kronor in greater Stockholm, 36,765 kronor in central Gothenburg, 23,713 kronor in greater Gothenburg, 21,133 kronor in central Malmö and 18,025 kronor in greater Malmö.

The Local (news@thelocal.se)

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Your comments about this article

14:56 October 14, 2010 by omphus
Still cheap compared to the rest of the world market
15:22 October 14, 2010 by bartman
I disagree omphus. Stockholm is definately not cheaper than the rest of the world. In Australia for example your apartment will be double the size for the same price and the avgift will be half.
15:51 October 14, 2010 by ISayWhatPeopleThink
I'm with Bartman, I think the apartment rent fees in Sweden are ludicrous for what you get in return in many cases. And a 10 percent increase in just a year? Insanity.
16:27 October 14, 2010 by Mb 65
Sweden is going the same way as England. Just wait for the bubble to burst.
22:49 October 14, 2010 by JLondon
@Mb 65

"Sweden is going the same way as England. Just wait for the bubble to burst"

You mean just Stockholm prices or all of Sweden?
01:13 October 15, 2010 by jazzIIIlove
seriously, just a invest a home in Stockholm, you may not need to work for your rest of your life.
08:11 October 15, 2010 by omaster
I completely disagree with bartman. Where are you living? Tasmania to get those prices? I find stockholm to be wayyy cheaper then Australia. My sister looked in Australia while I looked in stockholm and she couldn't even find somewhere she could afford and she was looking double the distance out of the city as I was. Maybe there are some places in the centre of stockholm super expensive but on a whole it s much cheaper.
13:27 October 15, 2010 by Mb 65
I was thinking of Stockholm and Göteborg. But you cannot make that much profit when selling a house in Sweden as you must pay tax on the profit you make in England you keep the lot
01:44 October 17, 2010 by beanjeanie
I agree with Omaster comments. You can get a 30 - 40 year old renovated 2 bed room apartment (around 75msquare in the suburbs of stockholm (less than 10 km from the CBD of Stockholm) for around AUD$110 to 150k. However, similar 2 bedroom apartment in Sydney will set you back at around AUD$400k.

In addition, buying your own place in Sweden, you will have to pay Capital gains tax of 30% when you sell compared to 0% in Australia. Althought Sweden allows you to claim the interest payments on your loans as oppose to Australia. However, i would still take the the cgt free option over being able to claim the interest component as cgt will be a bigger amount when you sell.
01:25 October 19, 2010 by rumcajs
well, I live in Prague now and a little flat with 2 bedrooms costs about 2M SEK the CHEAPEST and that's a s***t hole. In stockholm you can still buy a farely "liveable" 2 bedrooms flat for 1M. ............. and do you know how much we make? I make 10000 SEK and that's said to be a good salary.
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