Swedish Rents Surge to Record Highs, Hitting Tenants Hard
Stockholm, Sweden – Rents across Sweden have climbed to unprecedented levels, with newly-built rental properties experiencing the most dramatic increases, according to recently released statistics from Statistics sweden. The data reveals a 13.2 percent jump in new rental property costs over the past year alone.
This surge marks a significant shift from the period between 2016 and 2022, when annual rent increases averaged between 0.8 and 1.9 percent. Since 2023, rents nationwide have risen by nearly 13.7 percent.The latest figures, published today, show the average monthly rent for a three-room apartment nationally is now SEK 9,118, a SEK 67 increase from 2024. In larger municipalities with over 75,000 inhabitants, the average rent for the same size apartment is SEK 9,218, up SEK 106 year-over-year.
Major cities are experiencing even steeper increases. In Stockholm, a three-room apartment now averages SEK 10,139 per month, while in Malmö, the average is SEK 10,432. Rents in thes cities have increased by SEK 173 and SEK 249 respectively as 2024.
New construction is driving much of the increase, with rents rising 13.2 percent between 2023 and 2024, bringing the average monthly rent for a newly built three-room apartment to SEK 12,177 in 2024.
Private landlords have implemented the largest rent hikes,increasing annual rent from just over SEK 131,000 to SEK 154,000 between 2023 and 2024. Municipal housing companies saw a more moderate increase, from SEK 130,500 to just under SEK 138,000 during the same period.
Marie Linder,Federal Chairman of the Tenants Association,expressed concern over the escalating costs. “The figures really show that it has become much more expensive to live in rental rights. Rental increases are like a cost that never disappears, they remain year after year. While mortgage borrowers can exhale as interest rates go down, tenants continue to pay more, while food and electricity have become more expensive. It makes life tough for many. we see how more tenants end up in financial trouble. The evictions are increasing,” Linder stated in a press release. “Concerns are growing and yet those who own their accommodation have repeatedly get new relief from the government. Here, the tenants are left in the stall.”
