The Swedish real estate market has taken a hit as prices in Stockholm, a city renowned for its low prices, have soared in recent months, according with the latest data from the Swedish Real Estate Association.
Sweden’s real estate is considered a good investment for a number of reasons, but it is also an extremely volatile market.
According to the Swedish government, prices have been rising at a faster pace than inflation in recent years.
The Swedish Real Property Association (SSNA), which tracks prices in Sweden’s three major cities, reported that the number of sales of Swedish real estates rose by 1.6 percent last month compared to the same month last year.
In Stockholm, the number rose by 2.5 percent.
According to the Stockholm-based real estate agent, the price of Swedish property rose by 6.5 per cent year-on-year in the first six months of 2018, while in Gothenburg it rose by 4.2 per cent.
In Helsinki, it was up 4.5% year-by-year.
The number of buyers in Helsinki rose by 13.4 per cent to 10,000 in the same period.
The data released by the SSNA showed that the price per square foot in Stockholm jumped from 6,823 in the third quarter of 2018 to 7,734 in the fourth quarter of 2017.
The average price per sq. foot in the city also increased by 3.4 percent year-over-year to 1,731.
According a Swedish real-estate website, the Swedish housing market has been on a buying spree in recent weeks.
According the site, in August, the average price for a Swedish apartment was 8,000 Swedish crowns ($1,250).
That number jumped to 10 to 12,000 crowns in the following months.
The site also noted that there has been a surge in interest in apartments.
The website reported that prices for Swedish homes have increased by 2,000 to 3,500 percent since February.
According a report published in the Swedish newspaper Expressen, Stockholm’s average rent rose by 7.5 to 12 percent in the second quarter of this year, according the report.
According the real estate website, there are about 6.8 million square feet of apartment space in Stockholm.
According that, about 1.7 million square meters of apartment spaces are vacant.
According Expressen’s report, Stockholm has one of the highest vacancy rates in Europe, while Stockholm’s other major city, Gothenberg, has one the lowest.
According it, Stockholm is the largest housing market in the world, with nearly one million square kilometers of residential space.