Home Property in Sweden
How to buy a house in Sweden?
Here you will find the detailed information about real estate purchasing in Sweden:
- the right way to choose the property and to effect the deal;
- property taxes and duties that should be paid;
- everything about home loans in Sweden;
- home property management and renting;
- rental, commercial properties and related investment properties.
Real estate for sale
Most recent offers from house owners in Sweden and from real estate agencies. Advertisements with the fixed price and auctions are listed here.
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Real estate market in Sweden is stable and resistant to any external factors, which makes it attractive for investors. However, prices for real property here are far from cheap. Swedish real estate prices are considered to be among the highest in the whole world. The average price for real property in Sweden was €240 000, as of 2013. And this amount keeps growing.
The most expensive housing is in Stockholm, where apartment prices are 70–80 % higher, than those across the country. Average housing prices in the capital are currently around €7300 for a square meter.
Exceptionally high prices are also observed in Gothenburg. Square meter of local property is worth around €4600. The cheapest real estate is considered to be in northern Sweden. A small house here can be purchased for some €30 000.
According to analytics, Swedish real estate market is going to grow further. This will be aided by persistent demand for property in Sweden.
If you already know, how to purchase real property in any other developed European country, be sure that you are also familiar with real estate acquisition in Sweden. Otherwise, this guide will help you figure out general terms of this process.
Having chosen a desired piece of real estate and firmly decided to purchase it, you should start the actual process of property registration in Sweden.
This requires opening an account in a Swedish bank, in order to make any payments related to the deal. This account is usually opened based on a four-digit personal number, available to every resident of the country. Foreigners may also open an account based on their visa.
The next step is to make a 10 % deposit and sign a preliminary sale and purchase agreement, which should mention several important details: names of both parties, name and description of real property, including its value, terms of property transfer and amount of the deposit.
After preliminary agreement has been signed, it is recommended that the buyer conducts an assessment with the assistance of a qualified specialist. Such assessment may reveal possible defects in any system (such as sewage, heating, gas supply, etc.). It is not a mandatory requirement, but is highly desirable – if any failures are detected, the buyer may get a compensation only based on the results of aforementioned assessment.
In case some defects or property damages have been detected, the buyer has a right to cancel the deal or demand property value reduction.
After the assessment, principal agreement has to be signed and the remaining amount of property value has to be paid. Having signed the agreement, the buyer is already entitled to property, but not yet a registered owner, since registrations in Sweden have a higher priority.
Swedish real estate is registered at the relevant department of the national land registry. Upon completion of this procedure you will receive a so called “Lagfart” – an ownership transfer certificate.
Investments in Swedish real estate are liable to the following taxes and duties:
- stamp duty – around 1 % of property value;
- agent’s fee – 3.5 % of property value (usually covered by seller);
- registration of ownership at the national land registry – 1.5 % of the cadastral value;
- VAT – 25 %;
- property sales tax – 1.5 %;
Real estate tax in Sweden is the same for both foreigners and residents of the country. archived version