Market Size of Sweden Luxury Residential Real Estate Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sweden Luxury Residential Real Estate Market Analysis
Sweden Luxury Residential Real Estate Market is expected to register a CAGR of more than 4% during the forecast period (2022-2027).
The COVID-19 pandemic severely affected the luxury homes market, as the market experienced decline in sales transactions. Due to the pandemic restrictions and lockdown measures which affected sales in the country. Furthermore, construction of new housing units was also affected during the crisis. Now the sector is in recovery phase.
Moreover, in the housing sector multi dwelling buildings were dominating one-or-two dwelling units. In 2021 more than 8,476 authorized building permits were given, up by 46.9% compared to 2020 (with 5767 building permits). In addition, production price was increased in 2020 in both multi dwelling and one-or-two dwelling buildings. Meanwhile, production prices were lowest in region 2 (located in the middle of Sweden), where the production price was SEK 31,165, and highest in Greater Stockholm, where the production price was SEK 45,281.
Furthermore, the demand for luxury homes is driven by people's growing preference towards luxury amenities, and wealthy buyers who are looking for reliable places for real estate investments. Also, millionaires and ultra-high net worth individuals (UHNWI) driving the demand for luxury homes market in the country. Also, in 2020, more than 590,000 millionaires and 5,243 UHNWI were present in the country.
