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I don't understand why housing is so expensive, across the board, the Nordic countries. I understand winter is an issue ....
but ...
still. She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
I understand winter is an issue ....
It's not. The issue is the same as in Ireland and Spain.
The Serious People claim that the value of an apartment in a "middle of nowhere" town in Finland is 2400e/m2.
Of course it is nothing like this.
It's not like I haven't done that stuff before.
(sigh) She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
Have to dig into it to discover why people haven't snapped them up. Answers could range from Helsinki government unwillingness to change the zoning and/or issuing permits allowing conversion up to the people who have thought of it don't have and can't borrow the money to buy and convert them. She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
Is it? Compared to percentage of income or what?
At least in Sweden, there is (still) a large public owned housing sector which sets the standard for rents, which should keep them at fairly decent level.
Is it perhaps that construction workers are (still) unionised well-paid workers? Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se
In the last 10 years, the price of tenant-owner apartments nationwide has risen by 153 percent [Me: eek!,] while small houses have grown in value by a comparatively modest 72 percent. [Me: "modest" 72%????] In 2000, buyers had to pay 8,314 kronor per square metre ($115 per square foot) for a flat in Sweden. But by the end of 2010, Swedish apartment prices had risen to 21,057 kronor per square metre ($293 per square foot).
In 2000, buyers had to pay 8,314 kronor per square metre ($115 per square foot) for a flat in Sweden. But by the end of 2010, Swedish apartment prices had risen to 21,057 kronor per square metre ($293 per square foot).
(cite)
Looking at the price rise and comparing to the average Swedish salary I conclude Sweden (and Finland) is experiencing a real estate bubble. She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
Note that average price is skewed towards units that are hold for a short time and also more costly units. From what I have seen the price rise has been moderate outside the mayor cities. Outside the mayor cities is also where the renting market with the controlled rents works best as there is no housing shortage and the town council acts as landlord of last resort.
To pick from the adds: Alvägen 4 - 5 room house in Vännäs kommun/Vännäs | Hemnet
695 000 kr
Vännäs is a nice little town outside Umeå.
Södra Vägen 8 - 5 room house in Stockholm | Hemnet
4 600 000 kr
Ok, it is also bigger, but there is also a lot of bubble going on.
European Tribune - Housing bubble in Sweden going pop?
After some debate an interesting line-up formed. On one hand the central bank and the real estate salesmen denied that a bubble could be predicted at all. The central bank because bubbles can be known in their limited world and the salesmen because everybody knows that prices go up-up-up. On the other side was Bostadskreditnämnden, the treasury and the largest banks.
Still has not popped. Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se
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