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Swedish home buyers cancel bookings on new houses at record rate

Swedish households are increasingly pulling out of reservations to buy new-build homes as the housing market has cooled rapidly and demand for new developments dwindles. 
A view of the city with Stockholm City Hall, center, in Stockholm, Sweden, Thursday, July 27, 2023. | Photo: Pavel Golovkin/AP/Ritzau Scanpix
A view of the city with Stockholm City Hall, center, in Stockholm, Sweden, Thursday, July 27, 2023. | Photo: Pavel Golovkin/AP/Ritzau Scanpix
By Niclas Rolander / Bloomberg

About 65% of contracts for planned new dwellings were canceled in the past six months by buyers choosing to take the cost rather than follow through on purchases in a slumping market, according to data published by state-owned lender SBAB on Friday. That’s the highest share since at least 2014.

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