Stockholm house prices double in a decade

Stockholm house prices double in a decade
An estate agency ad showing prices in different parts of central Stockholm. Photo: Tomas Oneborg/SvD/TT
A Swedish newspaper has highlighted just how rapidly house prices are increasing in Stockholm, revealing that Stockholmers who bought a large apartment in the city in 2006 would have earned 1,200 kronor ($147 dollars) per day on their home over the last 10 years.

House prices have doubled in the Swedish capital over the last decade according to Svenska Dagbladet (SvD), making the city exceptional even by European standards, with a central apartment worth significantly more than one in Copenhagen, Berlin, Munich or Paris when prices are considered per square metre.

The average price for a bostadsrätt (an apartment in a cooperative owned building that is a common form of home ownership in Swedish cities) in central Stockholm is now just under 95,000 kronor ($11,700) per square metre.

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Last year it was 89,000 kronor ($10,965) per square metre, and in 2006, 45,000 kronor ($5,544) per square metre. The price increase over 10 years for those who bought a 100-square-metre apartment a decade ago would equate to a value of 1,200 per day therefore.

“The thing that differentiates Stockholm is that house prices did not go down after the Lehman Brothers-crash. It was just a dip, then it continued upwards,” Per-Arne Sandegren chief analyst at Swedish Estate Agency Statistics (Svensk mäklarstatistik) told SvD.

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