IMF warns of Real Estate risks in Sweden
The housing market as well as commercial real estate in Sweden has come into the spotlight as home prices have fallen over the past nine months and real estate companies are facing a capital tightening as the volume of large bonds coming to maturity.
The housing market as well as commercial real estate in Sweden has come into the spotlight as home prices have fallen over the past nine months and real estate companies are facing a capital tightening as the volume of large bonds coming to maturity.
Some data suggests that the risk of credit loss will increase even as the housing slump persists, commercial real estate in Sweden also a concern.
The large volume of bonds issued by asset holders that are due to mature in the next few years has raised concerns about the risk of financial instability.
Even if banks in Sweden have strong capital and liquidity to help cushion severe macroeconomic shocks, the country still needs to be vigilant about risks to financial stability.
Last year when inflation started to accelerate and the country's central bank (Riksbank) responded by increasing borrowing costs. Forecasters expect housing prices to fall 20% from their peak as the Riksbank prepares to raise interest rates further.
While the Riksbank has announced a 25-point interest rate hike, most economists believe that the Swedish Central Bank will have to do more after inflation in December 2022 rose to a three-decade high.
IMF warns of Real Estate risks in Sweden
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