Sweden: House Rents Increases The Most in 30 Years
Swedish tenants are facing the highest rent increase in 30 years, according to reports from the country's media.
After negotiations between landlords and the Tenants Association, rents will increase by an average of 4.2% for nearly 1.1 million apartments in the next year.
Each year, the lessor and the lessee negotiate the rent in Sweden. Last fall, when the parties entered negotiations, inflation in Sweden exceeded 10 percent for the first time since 1991, and landlords cited rising costs and interest rates to demand a modest rent increase.
The Swedish Tenants' Association objected to the request, saying the increase was too high because tenants were already faced with rising living costs.
The country's inflation rate in April was 10.5%, and Riksbank, Sweden's central bank, has raised interest rates continuously since May 2022 to curb inflation.
Sweden: House Rents Increases The Most in 30 Years
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