The April figures from Swedish real estate statistics now show unchanged prices for condominiums in the country, central Stockholm as well as Gothenburg after rising slightly in March.

In the case of villas, a price increase of one percent is seen, ie the same increase as the month before.

- We now see a slowdown in the gains we have had for almost six months.

In the autumn, prices cooled and then it picked up speed again, that rise has now leveled out again, says Per-Arne Sandegren, head of analysis at Swedish broker statistics to TT.

Adjusted mortgage rates

Long before the Governor of the Riksbank, Stefan Ingves, announced last week that the policy rate would be raised to 0.25 per cent, mortgage lenders had chosen to increase their mortgage rates, Per-Arne Sandegren points out, which has become important.

- If you tie up in a couple of years, the interest rates are rather a couple of percent and then there are suddenly quite large differences in that extra million that you need to borrow.

It will be visible money.

Marcus Svanberg, CEO of Länsförsäkringar's real estate agency, shares this view and calls the Riksbank's recent interest rate hike an "alarm clock for many Swedes".

Where the home is geographically located will be important where there is the greatest risk of decline in the big cities, says Marcus Svanberg.

- We now receive signals from our metropolitan brokers that there is a little more hesitation and it takes a little longer to sell the homes at the same time as people out in the country are not affected to the same extent, he says.

Silence in Malmö

Traditionally, the change first strikes at the tenant-owner side and then spreads to the housing market.

In the housing market, there is now a region - Malmö - where prices have stopped in April.

- It is more fast-moving in the condominium market, but then we must also remember that the pandemic pushed up house prices even more.

This may indicate that we will see an adjustment on that side, says Marcus Svanberg.

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