Record number of apartments for sale in Sweden
The number of apartments up for sale in Sweden has hit a new record high, with falling prices one of the possible consequences according to an expert at the country's biggest websites for property listings. If you're thinking of buying a home in Sweden despite these uncertain times, you've at least got a lot to choose from. But if you're thinking of selling, you may have more competition than you expected.
The number of bostadsrätter (a Swedish kind of condominium, usually an apartment, which is one of the most common forms of home ownership) being advertised on Hemnet was last week up 11 percent year-on-year.
"It is the highest recorded weekly figure since as far back as we've got data, that is 2014," Erik Holmberg, analyst at Hemnet, told Swedish news agency TT on Tuesday morning.
He said the record number was remarkable, but one of the main reasons included a slower-moving market where apartments are out for sale for a longer period without getting snapped up, in combination with an unusual number of new advertisements being published in recent weeks despite the corona crisis.
The number of new bostadsrätter ads rose 28 percent last week compared to last year, which according to Holmberg could end up pushing prices down if demand does not follow supply.
Swedish vocabulary
spending too much time looking at Hemnet's property porn (knarka, 'to do drugs') – hemnetknarka
apartment – (en) lägenhet)
market – (en) marknad
supply and demand – tillgång och efterfrågan
buy and sell – köpa och sälja
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If you're thinking of buying a home in Sweden despite these uncertain times, you've at least got a lot to choose from. But if you're thinking of selling, you may have more competition than you expected.
The number of bostadsrätter (a Swedish kind of condominium, usually an apartment, which is one of the most common forms of home ownership) being advertised on Hemnet was last week up 11 percent year-on-year.
"It is the highest recorded weekly figure since as far back as we've got data, that is 2014," Erik Holmberg, analyst at Hemnet, told Swedish news agency TT on Tuesday morning.
He said the record number was remarkable, but one of the main reasons included a slower-moving market where apartments are out for sale for a longer period without getting snapped up, in combination with an unusual number of new advertisements being published in recent weeks despite the corona crisis.
The number of new bostadsrätter ads rose 28 percent last week compared to last year, which according to Holmberg could end up pushing prices down if demand does not follow supply.
Swedish vocabulary
spending too much time looking at Hemnet's property porn (knarka, 'to do drugs') – hemnetknarka
apartment – (en) lägenhet)
market – (en) marknad
supply and demand – tillgång och efterfrågan
buy and sell – köpa och sälja
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