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Stockholm apartment prices hit record levels

Xinhua, September 15, 2015 Adjust font size:

Apartment prices soared in the Swedish capital over the past 12 months, according to new figures published on Monday.

In downtown Stockholm, apartment prices had increased by 17 percent in August compared to the same period last year, reaching a record average of some 88,000 SEK (10,600 U.S. dollars) per square meter, daily newspaper Dagens Nyheter reported.

"The number of purchases had increased compared to last year and the paperwork is being completed more quickly," said Per-Arne Sandegren, chief analyst at the realtors' organization Svensk Maklarstatistik, which published the data.

Meanwhile, houses in greater Stockholm cost nearly 5 million SEK (605,000 U.S. dollars) on average, double the figure for the country as a whole.

Housing prices in Sweden have far outpaced the increase in salary levels in recent years, the paper reported, as politicians mull how to curb Sweden's growing household debt. (1 U.S. dollar = 8.27 SEK) Endit