STOCKHOLM - Social distancing rules are prompting Sweden’s real estate to turn increasingly to livestreaming house viewings to keep the property market going amid fears of a sharp price fall as COVID-19 hits the economy.
While Sweden has opted against the total lockdown seen across much of Europe, physical house viewings have slowed as most people observe social distancing measures. A handful of couples also turned up for a physical viewing a few minutes later - trooping in one by one to avoid overcrowding. Now the economy is set for its worst year since the start of World War Two. The government reckons gross domestic product will fall 7%.“At the start of 2020, we had a forecast ... of plus 5 percent for this year or around there, now we believe it will be minus 5, 10 or maybe 15%,” said Jens Magnusson, economist at SEB. “But we don’t expect a crash in the housing market.”