Swedish home prices rose 3.4 percent month on month in seasonally strong January, after four months with falling prices, the Nasdaq OMX Valueguard-KTH Housing Index (HOX) showed on Wednesday.
Compared with the July-September period, apartment prices were down 1 percent while single-family home prices were unchanged.
Prices of single-family homes rose 9 %, the Svensk Maklarstatistik association said
After Toronto, Stockholm, Munich, Vancouver, Sydney, London and Hong Kong round out the top six, according to the banking giant's latest Global Real Estate Bubble Index
Home prices in Sweden have increased sharply since the 2008 global financial crisis, driven by the combination of a strong economy, low mortgage rates, a chronic housing shortage and rapid population growth, specifically an influx of refugees and others moving to urban centers for jobs and schools. But even during the recession Sweden’s real estate market didn’t suffer much, thanks to the shortage of housing and the swift countermeasures taken by the government and central bank, said Olof Manner, head of research for Swedbank, a financial services group based in Stockholm.
This emerged during a meeting of Sweden Minister of European Union Affairs and Trade Ann Linde and Union minister M Venkaiah Naidu here today.
Frankfurt and Brussels are emerging as tempting alternatives to London as European financial hubs in part because they have cheaper accommodation costs than Paris.
Apartment prices in Sweden rose 8 percent in February from a year earlier, figures from an association of Swedish real estate agents showed on Tuesday.
Prices of single-family homes rose 10 %, the Svensk Maklarstatistik association said in a statement.
Apartment prices in Sweden rose 8 percent in January from a year earlier, figures from an association of Swedish real estate agents showed on Tuesday.
A boom in Swedish home prices since the late 1990s has driven up household debt to among the highest levels in Europe, raising concerns among policy makers.
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