Swedish Apartment Supply Tightest Since 2008

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The number of apartments available for sale in Sweden is at the lowest level in five years, according to Hemnet, the country's biggest property website. 

A total of 6,613 apartments were available during the second week of January, one of the busiest times of the year, marking the lowest amount since the company started gathering data in 2008.  

During the same time period there were 11,281 single-family homes for sale, the least since 2011, Bloomberg reports.

"The turnover is high and properties are sold fast, which means that there is no build-up," Hemnet spokesman Staffan Tell told Bloomberg.  

Apartment prices increased 11 percent in the year through November, while single-family homes increased by four percent, according to Swedish property price data from Svensk Maeklarstatistik.

Homes in cities such as Stockholm and Gothenburg are selling quickly, keeping supply tight, Bloomberg reports.  

"Another reason for the small amount of homes for sale is that there were no unsold homes from the fall that reappeared after Christmas because the market has been so good," Pasha Sabouri, chairman of Swedish real estate agent association FMF, told Bloomberg.