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, 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.