Photo: TT News Agency / Reuters
The impact of the economic crisis in Sweden on the real estate market will be felt in the second half of 2020. This was stated by chief economist of Bank of the company Handelsbanken Christina Nyman, writes The Local.
In April the average price of apartments in the country decreased by 3.4 percent, the house fell 1.1 percent. In Handelsbanken predict a further fall of price tags. “We expect that the recovery from the current crisis will be relatively slow, with a continued high level of unemployment for several years,” predicted Nyman.
According to the calculations Handelsbanken, housing prices in Sweden at the end of 2020 will be reduced by 10 percent. If unemployment reaches 15 percent, the collapse of the value of real estate can be 20 percent. “A key role (in the formation of housing prices — approx. “Of the tape.ru”) plays the labor market. In addition, the mood of citizens affected by the economic instability,” concluded Nyman.
Earlier in may it was reported that Sweden is ready to record economic crisis since the Second world war. Its possible development is connected with the refusal of the authorities of the country from the strict quarantine because of pandemic coronavirus.
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