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Another example of Nordic co-operation, How Norwegians and Danes are influencing the Swedish real estate market

Wednesday, 31 October 2012
The Norwegians and the Danes have been the leading players in influencing the Swedish house market. The Danes, due to their own economic conditions at home, which has led to fall in the prices of Danish houses, have withdrawn from the Swedish property market.

The effect is that house prices in southern Sweden, which used to be their playground has fallen. Then the Norwegians had still been playing in northwest and wester Sweden. But something seem to be happening there, along the Norway - Sweden border that has attracted attention.

Sales of villas and holiday homes in Strömstad which is supposed to be the play ground of the Norwegians has declined by 35 percent in the last twelve months, compared to the same period earlier. This became the largest decline in at least 20 years, the real estate organisation, Bohusläningen, identified on Wednesday.

This area typically has a large and affluent clientele from Norway and also possess a hot housing market, but there is low market activities here today as before. The industry blames the increased demands on the down payment rules that the market is now required today than before, the strong Swedish krona as well as the very bad summer this year,

So due to bad weather, Norwegians could not buy Swedish holidays home because they instead choose to go abroad.

"The Norwegians went overseas instead. In addition, the strengthening of the Swedish Krona has made houses as expensive for they are if buying at homes in Norway, "says Leif Fourong, real estate broker to the Swedish business daily, Dagens Industri.

The Nordic co-operation in many sectors have been managing well but external forces will always interfere in swaying the benefits of that cooperation outside the zone of non interference.
Scancomark.com

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