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Real Estate in Sweden - Real Estate Investment

Prices for property in Sweden
From around $40,000 for an apartment
From around $60,000 for a villa
From around $70,000 for a bungalow
Country homes vary from around $200,000
Real estate agents are paid by commission and represent both seller and buyer. Seller is responsible for paying the commission which typically runs between .5% and 5%. In Sweden, the estate agent is a middleman and is under a legal obligation to look after the interests of both the seller and the buyer in a property deal. This means that the estate agent has to inform both the vendor and the buyer about the consequences of the contracts which are drawn up, and the terms and conditions which apply to the closing of the deal. For major property transactions a lawyer is typically responsible for drafting contracts. The lawyer will charge a fee based upon the work done. All registered property units have specific names and codes, normally consisting of the name of the municipality or city where the property is situated, an area name and numbers for local identification (for example Uppsala Ekeby 2:9). The Land Register contains information for every property unit including the location of the property, the registered owner (and the registered leaseholder where applicable), mortgages, easements, tax assessment values and the most recent transfer, including the purchase price. The records and documents submitted to the Land Registry are public. The Land Register is computer based and can be accessed on-line.
Maklarsamfundet (Association of Swedish Real Estate Agents) address: P.O. Box 1487 S-171-28 Solna Sweden phone/fax: 46-8-734-6680/46-8-27-81-53 The Maklarsamfundet was founded in 1919. There are approximately 1200 members representing 45% of all practicing real estate salespeople in Sweden.
Sweden has a lot to offer the international property investor.
In addition, two public bids for property companies were launched by foreign investors.
A major investment destination By 2003, Sweden was Europe's third largest recipient of cross-border real estate investments. Large inflows to Sweden have contributed to making the Nordic region, including also Finland and Denmark, a cross-border investment destination on par with France. Corporate real estate interests that have entered Sweden include US- and UK-based property investment funds, public German real estate funds and pan-European property investment companies. The Swedish property market distinguishes itself in a number of ways most important of them being:
*Sizeable investment market In terms of office volume, Stockholm is one of Europe's ten largest property markets. High proportion of European purchases Together with the UK and France, Sweden now ranks as Europe's most attractive property investment destinations. Sweden accounted for 11 percent of all European property purchases by foreign investors in 2003. By the end of 2003, foreign investors owned real estate assets valued at SEK 108 billion (EUR 12 billion), some 25 percent of all institutionally held property.

 

 

Real Estate