Bad news for those who want to sell their home
New figures from Swedish Real Estate Statistics make gloomy reading for those who want to sell their villa or condominium.
There has been a turbulent period in the housing market in recent years with sharply rampant interest rates on housing loans.
In addition, many potential buyers have been pressured by rising living costs when, among other things, food prices and the price of fuel have gone up considerably.
Bottom
Now new figures from Swedish Broker Statistics show that there are rock-bottom figures when it comes to the temperature of the housing market.
– Not since 2017 have so few condominiums been sold during a three-month period as during November to January, reports Sveriges Radio.
During the past three months, only 963 condominiums have changed hands.
– The prices of both villas and condominiums fell by three percent compared to the period before, emphasizes SR.
The fact that the housing market is so slow can create major problems for people who want to move or for other reasons need to sell their home.
In Greater Stockholm, the prices of condominiums have fallen by almost one percent in January and in Greater Gothenburg the fall is over 2 percent.
Positive signals
The brokerage community still sees light at the end of the tunnel.
– Interest rate cuts are now expected with great probability, speculators are starting to come back to the viewings and the majority of brokers believe in unchanged prices during the first quarter of the year.
This is emphasized by Mäklarsamfundet’s CEO Oskar Öholm to mäklarstatistik.se.
Looking at the whole country, the price of condominiums fell by -0.8 percent in January and by -2.7 percent November to January.
For villas, the price drop during January was -0.6 percent in the whole country and -3.1 percent in Greater Gothenburg, which suffered an extra large drop.
The average price for condominiums is currently around SEK 43,000 in Sweden.
Big differences
The average price for condominiums in central Stockholm is SEK 102,000.
The corresponding figures for central Gothenburg and central Malmö are SEK 60,000 and SEK 37,000, respectively.
The average price for villas is also much higher in the Stockholm area compared to the rest of the country.
In Sweden as a whole, the price is SEK 3.7 million.
In the metropolitan areas of Stockholm, Gothenburg and Malmö, the corresponding average price for villas is SEK 6.4 million, SEK 5.1 million and SEK 4.8 million.
The average price for holiday homes in the country as a whole is currently SEK 2.2 million.
Photo: J. Briscoe
Text: The editors
