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Swedish house prices have soared by 39 percent in five years

Swedish house prices have shot through the roof in the past five years, rising by 39 percent nationally, a report commissioned by real estate firm Fastighetsbyrån and carried out by Mäklarstatistik suggested on Friday, noting in particular that Stockholm house prices have increased by an average of around 1,000 kronor (€105) per day.

Swedish house prices have soared by 39 percent in five years
House prices have been on the rise in Sweden. Photo: Fredrik Sandberg/TT

“When you look back on the past five-year period, we can see strong price increases in general,” Johan Engström, CEO at Fastighetsbyrån said, noting that although the largest percentage changes were seen in north-eastern Sweden, in Norrbotten and Västerbotten, the Swedish capital and its surroundings remains the most expensive region in which to buy a house.

”But now we can see a tendency of the increase in house prices stagnating somewhat. Mortgage payments and stricter rules on lending, as well as higher prices, are starting to make their mark on the market,” he said.

The municipality of Härjedalen, in central Sweden, stood out, however, with a percentage increase of 166 percent over five years. And in the affluent Stockholm suburb of Danderyd, the average value of a house has risen by 4.29 million kronor (€450,000) over five years.

“One of the main reasons to the steep price increases (in Stockholm) is the limited supply,” Engström said.

“In some attractive areas with little, or almost no new productions, it’s a lot of pressure on the houses that come out on the market. It becomes pretty clear when you see that house-owners in Danderyd ‘earn’ several thousand kronor a day on their house.”

The report compared price developments between January and July 2012 and the same period in 2017.  

DRUGS

Police turn to Swedish eBay to sell drug den

Police have turned to the Swedish version of eBay, Blocket, in order to sell off a house that was seized during a raid on drug dealers in northern Sweden.¨

Police turn to Swedish eBay to sell drug den

When police raided the home in Örträsk, Västerbotten, the district court ruled that the entire house should be seized, meaning the local police became the new owners of the property.

The house had been used to cultivate and then sell marijuana plants, which were also seized by the authorities.

With apparently no need for the five-bedroom house, officers decided to write up an advertisement on popular buy-sell site Blocket. The ad, which they make no mention of the previous owners, reads unlike a typical real estate ad and lists every fault of the accommodation, including water damages, stained floors, and internal damages.

Police admitted that the interest for the house has been low.

“The property should be carefully examined before a purchase is carried out. Come to the opening if you are considering buying,” the announcement reads.

The police decision to use Blocket has raised eyebrows among the officers’ colleagues.

“I’ve never heard of anything like it,” police lawyer Erik Lindström told the Folkbladet newspaper.

Blocket, which is similar to eBay, is Sweden’s largest buy-sell site and the third most visited website in the country.

TT/The Local/og

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