Home prices in Sweden are falling

Gothenburg SwedenPhoto: Pasi Mämmelä / Pixabay
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Home prices are plummeting all over Sweden. According to the Valuegard price index, prices have fallen by 3.8% in one month.

“We are heading for a very dramatic six months,” Nordea’s analyst Gustav Helgesson stated.

According to Valuegard’s latest housing price index, prices are plummeting across the country. In one month, prices have fallen by 3.8%. The decline is greatest in the big cities.

Seasonally adjusted, the decrease amounts to 2.2%. Nevertheless, this is a remarkable figure, Helgesson added.

“Dramatic”

“It is still very dramatic. In one month, this is the biggest drop since the Lehman crash,” he said.

Nordea predicts that the decline will continue, partly because of implemented and planned interest rate increases in Sweden. They believe there could be a bigger drop of 10% by the end of next year, measured from the levels in March this year.

Pessimism among Swedish households has also increased. Almost half of Swedes believe house prices will fall in the future.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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