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Swedish Inflation rate 2.8 percent - somewhat lower

Real observable fall in Swedish housing market
Wednesday, 14 December 2011
Now there is real observable fall in the Prices of Swedish house and the housing market here has turned downhill.
The differences are large and the decline is greatest outside the big cities.
“There is a clear decline trend,” says Lars-Erik Nykvist, CEO of organisation Fastighetsbyrån (Real Estate Office).

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It is the economic turmoil and a high house prices that characterize the housing market. The only plus figure in the statistics, which otherwise shows only minus whatever period of time, are condominiums in central Stockholm.

The latest monthly figure shows a small increase of 1 percent but seen in three months and 12 months, the numbers are negative too.

Biggest drop in one year is noted for Malmo, southern Sweden. There, housing demand have fallen by at most 8 percent for detach house and the 6percent for villas.

Over Christmas and New Year, it is usually easy in the housing front, but what happens then is hard to predict, points Nykvist.
The turbulent global economy has serious repercussions here as well because Swedish jobs and incomes are strongly tied to behaviours of the international market.

The Swedish central bank in finding it hard to cut interest rates because of a huge household debts and this would ignite more people to borrow on their houses. Also Swedish house prices continue to be too high
Forcing would be house buyers or owners to live in heavy debts.
By Scancomark.se Team



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