Housing construction is plummeting in Sweden – Sweden news

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Fewer apartments are being built in Sweden.

During the first half of the year, eleven percent fewer apartments were built compared to the same period last year, figures from Statistics Norway show.

The reason behind, according to the construction industry, is rising interest rates and more expensive building materials.

– This will have economic effects at a time when we are heading towards recession, says Catharina Elmsäter-Svärd, CEO of Byggföretagen.

See more about the drop in the player above.

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