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Prise fall of Swedish villas as the Swedish real estate section gets constrictedMonday, 27 February 2012
There is intense fall in the prices of Swedish real estates especially the exclusive ones such as villas.
According to Swedish business daily, Dagens Industri, one in every fifth Swedish villa is now on sales – meaning being sold at a discount – some as much as 50 percent. Also in several municipalities, more than every third house price has been reduced.
In the past four weeks, 21 843 villas and townhouses remained up for sale on residential site Booli. This is an increase of 21 percent over the corresponding period a year ago.
In many municipalities, including Stockholm, Västerås and Linköping, supply has increased more than 35 percent.
One explanation to back the fact that supply has increased is that advertisement has soared. On average villa on Booli has been up for sale for 126 days, which is an increase of 8 percent in one year. In many municipalities, advertisement time increased far more than 30 percent.
Statistics show that nearly one in five Swedish villa, 19 percent have seen their prices reduced, compared with the initial ad. In several municipalities the figure is higher than 30 percent, according Booli.
In Stockholm and Gothenburg the fall is 12 percent of the villas price reductions, while Malmö region has seen its fall just above the average of 21 percent.
The average starting price has gone up by 6 percent to Skr2 million last year. In Stockholm, which introduced the agreed price even for houses at the turn, the exclamation risen by an average of 13 percent to 4.8 million. In 118 municipalities, including Malmo, is starting bids lower today than they were a year ago, according Booli.
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