Posh Östermalm pushed off top flat-price list

Posh Östermalm pushed off top flat-price list
Several affluent but less traditionally upper-crust neighbourhoods in inner-city Stockholm have managed to rob Östermalm of its status as the most expensive for property owners in Sweden.

A review of kronor per square metre prices in Stockholm by Swedish Estate Agency Statistics (Svensk Mäklarstatistik) shows that Vasastan, Norrmalm and the old town Gamla Stan hit an average of 65,510 kronor ($10,127) per square metre in February.

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Östermalm, meanwhile, had flat buyers parting with an average of 64,823 kronor per square metre when properties changed hands in February.

“Maybe it is too early to talk about a trend,” said analyst Claudia Wörmann to the Svenska Dagbladet newspaper, which analyzed the latest statistics.

“Smaller apartments usually have a higher square metre price and there are more big apartments in Östermalm,” she offered as an explanation for the price.

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Prices in the past twelve months in Östermalm did go up by eight percent, which was still less than the ten-percent climb in Vasastan, Norrmalm and Gamla Stan.

The average metre square price across all of inner-city Stockholm was 61,878 kronor, compared to 38,802 in central Gothenburg and 20,428 in Malmö.

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