Swedish government says preparing incentives to boost housing construction

The Swedish government is currently working on reforms to boost flagging housing construction, Finance Minister Elisabeth Svantesson said on Wednesday.

"On the housing market, I share the view that we have problems,", Svantesson told a news conference. "That's why the government now is preparing reforms to increase incentives for housing construction."

Housing starts dropped by 50% in Sweden in the first quarter as higher interest rates, rising construction costs and lower demand hit building firms, data showed in May.