Why Invest?
Sweden, ‘land of the midnight sun’ is a place where the sun literally does not set. Sweden is a rich nation in every sense of the word. One of the largest country in Europe by area it has a beautiful, diverse and interesting landscape.
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Market Report
Sweden property market survey reveals that investment in Stockholm real estate is regarded as most profitable on the continent. Stockholm is developing fast and with a strong bullish stock market, stable economy things for the property market in Stockholm look great.
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Economic Overview
Being one of the richest countries in the world, Sweden enjoys a high standard of living. It is well-known for its comprehensive social welfare structure. The economy of Sweden is largely based on services, heavy industries and international trade. Sweden is world's leading producers of iron ore. Major industries include mining, lumbering, steel manufacturing and tourism.
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Visa/Residency Issues
For short term visits generally of less than 3 months an entry visa is not required by the nationals of some countries.
EU and EEA should have a passport or identity card to enter Sweden. For a longer stay of more than three months a residence permit must be applied for. Normally visa for Sweden is granted for 90 days and it is only in exceptional cases that a longer stay is allowed which can extend to a year. A resident permit can be temporary or permanent.
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Getting to Sweden
The main international airport of Sweden is Arlanda. It is half an hour’s drive to the north of Stockholm. There are regular flights on a daily basis to and from most European capitals. An approximate flight time to Stockholm from London is 2 hours and 30 minutes.
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Fees & Taxes
- It is compulsory for everyone living or working in Sweden to pay taxes. Tax rates in Sweden are very high even higher than UK.
- Permanent residents are required to pay tax on their worldwide gains and capital gains.
- Temporary residents are required to pay tax on Swedish sources that is Swedish employment or property.
- Non-resident landlords are taxable on rental income accruing in Sweden at a rate of 30%.
- Residents are allowed certain allowances and deductions from their worldwide taxable income.
- Stamp duty is charged on registration of title deeds and would usually be around 1% of the purchase price.
- Real Estate Agents fees on average of 3.5% are payable by the seller and it would be wise to check they are registered and insured.
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Sweden
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Basic Information
| Population |
9 million |
| Languages |
Swedish, but English is widely spoken |
| Area |
175,500 sq miles (450,000 sq km). Nearly 2.5 times the size of the UK |
Currency
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Swedish Krona (SEK)
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| Dialing Code |
+46 |
| Emergency Services |
112 |
Sweden Overview
Sweden is the third largest country in Western Europe, between Norway and Finland sharing land borders with them. Almost half of the country is covered with green forest.
The urban parts of Sweden are modern and sophisticated on the other hand the countryside offers simpler, quiet and tranquil lifestyle. It is connected to Denmark by the Oresund Bridge. It became a member of the European Union in January 1, 1995. Its capital and largest city is Stockholm, with a population of 802,611 and 2 million in metropolitan area. The country is divided into 25 provinces.
Sweden progressed within a century from a poor, underdeveloped agrarian country to be one of the world's most modern societies. Sweden has been a politically stable county. Although democratic its socialist approach has made it a sophisticated welfare state with high taxes. It offers high standards of living and is expensive. It is a modern sophisticated country which offers Free state-run education for the children of all Swedish residents, regardless of nationality. It has always attracted immigrants. Its main cities especially Stockholm has quite a number of foreigners working there specially in computing. The expatriate living in Sweden can enjoy the same benefits as the nationals. Capital of Sweden is Stockholm, which is a modern and clean city with extremely low crime rate. The city has preserved its old buildings. It has 150 museums which show the Swedes’ great interest in history. The main cities of Sweden especially Stockholm offer a range of entertainment facilities like theatres, cinemas, restaurants and bars.
Average Property Prices
The average prices of houses in Sweden are SEK1, 885,000 (€194,790). In Stockholm, and the average price of houses SEK3, 407,000 (€364,242).
Buying Process
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The first thing that must be done is that purchasers before buying property in Sweden must find out about the citizens registration number.
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When buying property in Sweden it is a normal practice to hire the services of a real estate agent. Real estate agent can also take the role of a lawyer.
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After selecting the property you wish to purchase you have to agree on a purchase price.
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Once an offer is accepted a deposit of 20% is usually given to the seller in order to hold the property.
- When the transaction is completed, it is the buyer's responsibility to pay stamp duty and apply for deeds of title within three months of the sale transfer and submit them for registration
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