Stockholm house prices double in a decade

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.

Stockholm house prices double in a decade
An estate agency ad showing prices in different parts of central Stockholm. Photo: Tomas Oneborg/SvD/TT

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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