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Persistent increases in rents in Stockholm partly driven by a new law

Monday, 08 April 2013
The market for renting a second hand home has changed in Sweden has become lot expensive after the new law on leasing was passed by the government. Big cities such as Stockholm is seeing increased families that are being hit by the increase as apartments in the capital have become more and more expensive to rent.

Second hand renting referred to as a type of situation when some one re-rents his or her apartment to some one else when he or she travels abroad or to another city or otherwise has seen such rents spiked.

According to a new report out today, the inner city of Stockholm has seen rents for a two-bedroom apartment, for example, increased by 19 percent in one year.

This has forced some families to move to other cheaper destinations as it becomes unbearable for them to pay the rents. Families with children are the hardest hit and many have it hard to find something more long term in terms of rents.
With the prices of houses in Sweden becoming unaffordable, despair is beginning to hit residents of Stockholm and many big cities of Sweden. Since January, it has been reported that many rents remained at unacceptably high levels. This was before the amendment of the rules on February 1, which means that condominium owners who rent or those who sublet can charge more in rent.

In related development, the Swedish households expect a stronger development of house prices in April compared to what they did the previous month.

Boprisindikatorn or  house prices indicator published by the bank, SEB which shows the difference between the proportion of households who believe in rising prices and the proportion who believe in falling prices, rose to 45 in April, from +35 last month.

Of those surveyed 59 percent, believe on rising house prices, compared to 51 percent last month, while 14 percent believe in falling prices, compared with 16 percent the previous month.
The study was carried out via a survey conducted during the period March 26 to April 3.
By Team

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