During the pandemic Swedish the housing market used to be one of the “hottest” spots in the world, but is now experiencing a steep decline, “Bloomberg” writes.
The content will continue after the announcement
Advertising
In March, the Swedish central bank “Riksbank” announced a change in monetary policy, which has already cooled this housing market, but now rising energy prices and forecasts of their further rise are of greater concern.
Apartment prices in the country fell by 6% during the year and private house prices by 3%.
The decline in apartment prices is the strongest since August 2018, when the Nordic country suffered a correction in property prices.
The largest cities – Stockholm, Malmö and Gothenburg – suffered the sharpest decline, with property prices falling 6-9% annually.
Lenders and the “Riksbank” predict that prices will continue to fall and the decline will reach 15-20% from the high point reached earlier this year. This means that half of the decline has already been experienced, but the decline is likely to continue.
