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Swedish mortgage business actually fell last year

Thursday, 12 January 2012
More evidence that the Swedish housing marketing was stalling, in 2011 the amount of mortgages taken by would be house buyers dropped dramatically.

During the period from January to November, as few as 6000 were items granted than the corresponding period last year, down nearly 10 percent, writes Swedish newspaper Svenska Dagbladet, referring to figures from the Swedish Mäklarstatistik, the Swedish real estate statistic

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In December, it was reported that a record number of items, that is houses remained for sale on the market. Economic turmoil and tighter lending conditions contributing to the slowdown.

Also the fact that there have been increased talks of Swedish houses being over valued might have also killed the zeal for people to want to buy houses. The household debt must also be reduces as Swedish people continue to borrow and remortgaging their houses. The government instituted a lending ceiling of 20percent of down payment for mortgage buyers that is seen to be too high.
By Scancomark.se Team




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