Property prices fall in Sweden: report

Source: Xinhua| 2017-11-14 20:05:07|Editor: pengying
Video PlayerClose

STOCKHOLM, Nov. 14 (Xinhua) -- The price of apartments in Sweden's three largest cities are going down while villa prices remain steady, showed a report published on Tuesday.

The prices of apartments in Stockholm, Gothenburg and Malmo have fallen an average 1 percent last month, according to the latest monthly report from Svensk Maklarstatistik, an organization of Swedish realtors.

"It is clear now that the housing market has entered a new phase marked by price drops, even if there are regional differences," Per-Arne Sandegren, chief analyst at Svensk Maklarstatistik, told Swedish Television.

The changes are most notable in the capital city of Stockholm, where apartment prices in the city center have dropped 2 percent.

In greater Gothenburg and greater Malmo, prices have dropped 1 percent and 3 percent, respectively.

Sandegren believes the growing availability of apartments is one of the reasons behind the price drop. More apartments are being built in Swedish cities so there is a greater supply of homes, but the demand has not increased correspondingly.

"The recent slowdown and dip should be put into context: for a number of years we have had a steady price hike," Sandegren added.