You should now have a clear idea of whether or not you can legally purchase or sell real estate in Sweden. You probably don’t need us to remind you that buying a home comes with its fair share of pros and cons.
In the following sections, you will discover the primary benefits and drawbacks of investing in and purchasing real estate in Sweden.
The design of Swedish homes is a strong point.
You can find some truly fantastic quality of life in Sweden real estate. The average Swedish home or apartment is well insulated, protecting its inhabitants from the cold.
Furthermore, most places have everything you could possibly want.
It’s important to remember that many Swedish dwellings, especially apartments in older buildings, are quite small in comparison to those in other countries. But you can take this as a chance to get rid of all the unnecessary things in your life and embrace minimalism.
There is a wide variety of house kinds to choose from, which is a plus.
Sweden is a great place to choose a home that fits your specific needs. You have the option of living in a bustling metropolis or a quiet rural community. The same holds true for your home base, where you have the option of a rustic cottage or a sleek city condo.
When looking to buy a summer home, you can find a wide variety of possibilities in Sweden. You have the option of picking one on a secluded island, and there are also many in close proximity to the coast in the south. Additionally, if you’d like, you can buy a rustic cabin in the woods.
The good news is that in many regions of the country, you may find reasonable prices.
Surprisingly affordable home prices can be found in many regions of Sweden, despite the fact that the country is often considered to have one of Europe’s highest cost of living. Cities like Helsingborg and Malmö provide fantastic value for money if you’re willing to be flexible about where you stay.
In a similar vein, there are plenty of affordable options in the northern regions of Sweden. Consider cities like Lule and Ume if you’re interested in experiencing life in the Arctic Circle.
A plus is that you can buy property in Sweden without being a resident
The fact that you can buy a home in Sweden even if you don’t plan to move there is a major perk. Another plus is that you need not be a Swedish citizen to own a home there. least five years before they can buy a home, this is a striking difference.
There is a wide variety of accommodation options available to those who plan to spend only part of the year in Sweden. It’s important to remember, though, that you must still follow immigration laws; if you are not an EU citizen and plan to stay for more than 90 days, you will need a residence permit.
You should also know that if you live in Sweden for more than six months in a row, you will be required by law to pay taxes on any income you make while there.
The cost of real estate in Stockholm’s downtown area is high
While housing is available throughout the country, most expats choose to settle in Stockholm because it is home to the largest concentration of employers willing to hire international workers. This means you may be forced to stay put, in which case you’ll have to pay rent in Stockholm, Sweden’s priciest metropolis.
Expect to pay more than you would elsewhere, on top of Stockholm’s already high cost of living, if you want to call the city home for an extended period of time. Additionally, you should get ready for the bidding war and do everything in your power to avoid getting trapped in one.
The property market in Sweden’s major cities is very competitive
In continuation of the preceding point, you should be prepared for intense competition if you plan to look for a home in one of Sweden’s major cities. Stockholm isn’t the only Swedish city with a competitive market; Malmö and Gothenburg are just as demanding. Consequently, you may have to place more than one bid on a variety of properties before you locate the one that truly sings to your soul.
Our best piece of advice in these situations is to not let yourself become overly tied to any one physical location. Instead, be flexible and open to new experiences.
Con: Just because you own property in Sweden does not give you the legal right to live there.
It can be challenging and time-consuming to obtain a Swedish resident permit if you are not from a country in the European Union. But if you were hoping to qualify by purchasing a home in Sweden, we regret to inform you that this is not the case.
You’ll need a valid reason to stay in Sweden in order to qualify for a residence visa. Things like employment, education, and the launch of a new enterprise are all examples (under certain conditions). Both a residence permit and Swedish citizenship are unattainable through property ownership alone.
Do foreigners have any protection from Swedish government confiscation of property?
If you’re looking to buy a home in a foreign nation, you may be curious about the extent to which local authorities can interfere with your daily life. One recurring concern among international homebuyers in Sweden is whether or not the government can eventually take possession of their investment.
The government acquiring your property should not be a major concern unless one of several exceptional circumstances applies. If you’re not doing anything illegal, you have nothing to worry about.
An important fact to keep in mind is that the Swedish government declared in July 2022 that it intended to grant police officers the authority to demand identification documents from foreign nationals. This action is intended to reduce the number of illegal immigrants in the country.
If the laws are implemented, the police will be able to confiscate identification papers before determining whether or not the holder is authorised to be in Sweden.