Sweden experienced an unprecedented surge in condominium sales during 2021 and 2022, setting new records in the real estate market. In 2022, a staggering 148,090 condominiums were sold across the country, with a total value reaching an astounding 469 billion Swedish kronor.
The surge in sales also saw a substantial increase in the average price of condominiums. The median price for a condominium rose by nearly 14 percent, from 2.785 million kronor in 2021 to 3.165 million kronor in 2022.
Notably, the three major metropolitan areas, Greater Stockholm, Greater Gothenburg, and Greater Malmö, played a pivotal role in driving the high sales figures. A significant portion of the total sales value, approximately 79 percent, came from these regions, with Greater Stockholm alone contributing nearly 277 billion kronor. This represents 59 percent of the country’s overall sales.
The surge in demand was also evident in the number of transactions. In 2022, there were 20,750 more condominium sales than in the previous year, marking a considerable increase of 16 percent. More than 61 percent of all condominium sales took place in the three major metropolitan areas, with Greater Stockholm accounting for 41 percent, Greater Gothenburg for 11 percent, and Greater Malmö for just over 9 percent.
However, there were significant regional variations in the average price of condominiums. Stockholm County recorded the highest average price, with condominiums selling for nearly 4.6 million kronor in 2022. On the other hand, Västernorrland County had the lowest average price at slightly over 1 million kronor.
The surge in condominium sales and rising prices indicate a robust and dynamic real estate market in Sweden during 2021 and 2022, reflecting increased demand and investor interest in the country’s property sector.