Prices of flats in Sweden’s major cities have increased 600-750 percent since 1996, according to inflation-adjusted figures from real estate company HSB.

“We definitely have a housing bubble”, Lars Wilderäng, economy blogger at Cornucopia, told Swedish television SVT. “It is so bad that the politicians did not want to talk about it during the election campaign, which indicates it’s pretty bad“.

Prices rose the most in the country’s third biggest city, Malmö, with 750 percent. Increase in Stockholm and Gothenburg were 600 and 650 percent.