Housing prices downward one of the places fastest is Sweden

Soaring inflation and rising borrowing costs have sent housing prices on a steep downward trajectory across the world, but one of the places where this trend is playing out the fastest is Sweden. 

To Swedes, the situation is especially striking as recent corrections have been shallow and short-lived, and many young home buyers have never experienced a crash.

 A handful of formerly frothy markets, including in Canada, Australia and New Zealand, are in the midst of declines, and more than a dozen developed economies are either in a real-estate downturn — defined as two consecutive quarters of falling prices — or about to sink into one. 

After a series of interest rate hikes by Sweden’s central bank, the biggest fear is now that consumer spending will grind to a halt. Household debt amounts to more than 90% of Sweden’s gross domestic product

Bloomberg 12 December 2022

https://www.bloomberg.com/news/articles/2022-12-12/sweden-s-free-falling-property-market-triggers-worst-slump-in-eu