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Real Fall in the prices of flats in Sweden


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Thursday, 14 July 2011
Prices for condominiums in Sweden fell during the month of June with 4 percent, compared with May.
Swedish real estates broker statistics show the fall which also reflects that it was the third consecutive month that housing prices went down. Houses or what is known here as Villa prices, however, were unchanged.

According Peeter P�tsep, CEO of Swedish Property dealers association, it is too early to determine whether it is a seasonal temporary downturn or a sustained trend of price adjustment for flats.”

“It's a downturn, but we tend to be cautious about because this is a single summer month. We'll see how in the following months things will go,” he says.

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The fall in prices of the condominiums in June was the biggest in central Malm�, down 9 percent compared with May. Peeter P�tsep explains that the fluctuations often are much higher there than in, for example Gothenburg and Stockholm, among other things, the base is smaller, such as new construction can affect the statistics. In both Stockholm and in central Gothenburg, prices fell 2 percent.

How house prices could develop in the future, is difficult to predict right now, believe P�tsep. Several factors come into play, including rising mortgage rates, mortgage ceiling imposed recently and the power of the country’s economic development. There is growing preoccupation abroad through debt issues in Europe and also in the USA.

“It is extremely difficult to assess. There is an uncertainty that I think will there for be a while.”
Any doubt in the market tend some customers who wait to see that picture becomes clearer, and brokers across the country, according P�tsep noticed that it takes longer to sell items.

The number of condominiums sold during the second quarter of this year was 17,156, more than 1100 fewer than the same period last year, while 11,241 homes were sold during the second quarter, 600 more than during April to July last year.
By Scancomark.se Team


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