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The expert: the effect may be greater
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The Corona pandemic causes house prices to fall across the country.
In Stockholm, the breed is the largest. Condo prices fell 1.7 percent, new figures show.
The WHO pandemic warning had a direct impact on Swedish house prices. When the coronavirus was classified as a pandemic, a sharp decline in house prices in Stockholm began, according to the Valuegard HOX index.
In the second half of March, prices fell 4 percent in the capital, and then fell another 2 percent in the first half of April.
Prices are going down
Sweden’s private home price index fell 0.5 percent in March. The biggest effect has been the loss in tenant-owned apartments, where the value has fallen 1 percent. The villain index, on the other hand, only supports 0.1 percent.
In Stockholm, the tenants and owners index fell 1.7 percent, while the housing index increased 0.1 percent. In Gothenburg, both the tenant index and the housing index fell 0.8 and 1.4 percent, respectively. In Malmö, condos are down 1.5 percent and villas are up 0.3 percent, the Valuegard HOX index shows.
Photo: Klemner Studio
Claudia Wörmann, housing economist at SBAB.
Unemployment can worsen
The situation could be even worse, according to Claudia Wörmann, housing economist at SBAB.
– If many people go from layoffs to unemployment, we will be in a different position that will have more effect on the real estate market than we see today, when many layoffs are not yet unemployment. Today’s amortization easements and low interest rate serve as an air bag against a sharp and rapid drop in prices, it says in a press release.
Those who can wait now with their relocation decisions, Claudia Wörmann believes.
– There are still those who, for various reasons, cannot postpone the change of home. Those who previously had impressions like weekend fun and the group that was in the market for the purpose of speculation have completely left the market today, making the customer group more dedicated.
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