Positive Turnaround in the Real Estate Market in Gothenburg

After an extended period of uncertainty in the real estate market in Gothenburg, as well as in all of Sweden, we are now seeing a positive shift. Franchisees Oskar Rydström and Elin Edström from Notar Göteborg Väster discuss the increased housing supply this fall and the new opportunities emerging in the market. With more homes up for sale and a rising demand, a dynamic environment is created, benefiting both sellers and buyers.

Oskar Rydström and Elin Edström, the franchise owners at Notar Göteborg Väster

The market in Gothenburg has really started to pick up pace

The recent positive interest rate announcements are starting to have an effect, giving more people the opportunity to act. We predict an increased supply during the fall, primarily due to a previously cautious market. We notice that many are eager to make deals before the market fully recovers.

It is becoming more common to sell one's home before purchasing a new one. A key reason for this is to know exactly what resources they have at their disposal, especially in a relatively restrained market. We are now seeing that early contact with a real estate agent is more important than ever to understand one’s situation and prepare for the future purchase of their dream home.

A major change we've observed since early summer is the growing interest in what we call the “pre-market.” Here, sellers can set their own terms regarding access and price and only sell if the right offer comes along. The pre-market has been hesitant for a long time, but we now see that more people are willing to make deals on these terms. A significant reason for this is that customers realize better times are ahead, which poses a “risk” of rising housing prices in future bidding wars.

In summary, we are optimistic about the fall and believe that deals, which have taken longer to close over the past year, can now be completed more quickly if the right preparations are made.