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Swedish Property Boosted by Economic Conditions

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real estate  Sweden  Savills  SEK  Property Investment Sweden  Peter Wiman  Swedish Real Estate 

Swedish Property Boosted by Economic Conditions

By - Monday 30 May 2011

A maturing property market buoyed by strong economic growth makes investing in Swedish real estate a viable option for international buyers. This is according to Savills, which noted that transaction levels in the country have increased over the past year.

The real estate advisory firm reported that by the end of the first quarter of 2011 total turnover reached SEK19.5 billion, up from SEK 8.5 billion in the corresponding period of 2010.

Sweden's Gross Domestic Product (GDP) has also experienced strong growth in the wake of the financial crisis. Since the beginning of 2010, GDP has continued to climb upwards. This trend is expected to continue into 2011 with a positive GDP growth of 5.5 per cent expected by forecasters.

"The strength of Sweden's economic recovery in 2010 surprised forecasters and at the end of 2010 turnover totalled SEK115 billion, double the level reached in 2009. Today most of the Swedish macro economic indicators are positive or have a very positive outlook," said Peter Wiman, head of research at Savills Sweden.

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