In Sweden, which refused to be quarantined, housing became more expensive

The coronavirus pandemic has not yet had a significant impact on the Swedish real estate market: house prices in the country are rising, writes The Local, citing data from research company Valueguard.

According to analysts, for the first two weeks of August 2020, real estate prices in Stockholm increased by an average of 0.7 percent. In the area of Gothenburg, the price increase was 0.3 percent. In July, the average cost of housing across Sweden increased by 2 percent.

According to experts, in the summer, the Swedish real estate market has traditionally recorded low activity of buyers, but in July 2020, home sales in the country that refused to quarantine increased by 25 percent (compared to the indicator for the same month in 2019). In Stockholm, the number of transactions increased by 60 percent year-on-year.

Earlier, in may, Sweden predicted a collapse in house prices. The impact of the economic crisis on the real estate market will become noticeable in the second half of 2020, said Kristina Nyman, chief economist at the banking company Handelsbanken.