Remember the post I wrote about “My Local Market“? Turns out my feeling of inflated prices were right. Global Propery Guide just published some statistics about changes in house prices during the first quarter of 2015. As I suspected Sweden has the fourth biggest increase in the whole world with a rise of 8,8 percent.
In one way this is great for me. That means I have made a few years salary from the increased value of the real estate I own. But it also means that it is not a good time to buy here right now, which makes me very, very bored as I felt like flipping something. Or. A flip can possibly be done, but it’s hard to find the bargains. If I come across something I still might buy it just to sell in a few months again.
Lot’s of cheap money and a demand way bigger than the supply will very likely keep prices higher for a while. Demand will probably remain high for a while, but the money looks like it might be getting a little bit more expensive the next year. That might help slow the market down a bit.
If we look globally the five hottest markets are:
1. Ireland with 17,6%
2. Hong Kong with 14,4%
3. Estonia with 9,6% (in their capital only)
4. Sweden with 8,8%
5. Israel with 8,3%
Today I’m going shopping and also plan to work a bit on my short game. Haven’t fancied playing golf in a while, but it’s coming back to me now. Hope to get a lot of rounds in the summer.
Last transaction you made was a year ago? Since that time profits of billions SEK has been made by other player in the Swedish real estate market. I dont like the feeling I get from reading this blog post, it bear attitude. Only works in bear market. Find the bull in you.
You are very right. It hurts but I know I’m exceptionally unmotivated and lazy at the moment. Need to get hungry again.