Introduction -
Sweden is considered to be a silent hotspot for property investors, There are no
legal restrictions on foreigners buying property in Sweden and sales of holiday
& second homes are creeping up all the time. The housing stock is modern with
other 50 % of apartments being less than 50 years old. The sense of open space
in the country is wonderful and many Brits are buying cheap summer houses in the
country. Because Sweden is known for the high cost of living, many
property investors have been put off buying in the country as it is wrong
assumed that property prices are also expensive. This is not the case, property
prices are still lower than the United Kingdom and there is plenty to choose
from. Have a trawl round a few of the Swedish property websites and you will
seen that property is often at bargain prices. Sweden is the largest country in
Scandinavia and the fourth largest in Europe, bordering Norway and Finland,
although it is located within the Arctic Circle. temperature is hotter in the
summer than the UK’s and not as wet in winter. recent reports have suggested
that buying property in Sweden is a fairly safe bet, the economy is strong and
stable and returns in excess of 300 % and being predicted in the next 10 years
making it a top five location for property purchase for investors hoping to make
strong returns of their investment.
Swedish Holiday Home Insurance - insurance for your Swedish holiday or
second home is easily available from the United Kingdom and as with any property
purchase, insurance should be one of your first considerations. The insurers
will require to know a variety of information before they are able to provide
you with a quotation, make sure that you know the constriction of the property.
Sweden is not known for natural disasters ( it usually suffers only one minor
earthquake per annum) or exceptional weather claims, flooding has caused some
problems in the past. As with most other countries, Sweden is keeping an eye on
climate change and it is predicted that this is likely to increase the risk of
flooding in the western part of the country (in Värmland and Västra Götaland,
which contains Gothenburg) Conversely property owners in other parts of the
country will have less to worry about, because in the past flooding has often
been as a result of melting snow and the level of snow fall is predicted to drop
in the face of warmer weather. If you are intending to rent your property
out, you will need to make sure that any Swedish holiday home insurance you buy contains
adequate Public Liability Insurance. Whether you decide to do holiday lettings
or look for a more long term renter, make sure that you seek professional advise
from a local professional that knows the local rules and regulations relating to
letting property. This information can usually be obtained at the same time as
you purchase your property. AssetSure are
able to offer insurance for an Sweden holiday home.
The Holiday Home Market in Sweden - in common with other European countries,
property prices are more expensive in the major cities, Stockholm, Gothenborg
and Malmo are the major cities where you can expect to pay more and there is
great demand for property in these areas and this keep prices high. 20% of
Sweden's population live in and around Stockholm and many of the population
migrate to this area looking for better work prospects. There are two other
areas in the country that have witnessed above average price increase;
Gothenburg, where a tunnel linking the city to Copenhagen is thought to be
generating business opportunities which are creating a strong demand for housing
and Malmo, located on the South Coast attracts commuters from Copenhagen as the
property prices are so high in the city
Buying a Swedish Holiday Home - as mentioned above, there are no
restrictions on foreign investors buying investment property or holiday or
second homes in Sweden. In an attempt to boost sales and to cut down on red tape
,the process for buying property in Sweden has been simplified a great deal over
recent years. In fact, a good deal of residential property sales often takes
place without the intervention of a solicitor and the process can be completed
in matter of days. If you are happy with this situation, you cane expect to pay
agent fees of between 3 & 5 %. Most British people though still
prefer to seek out quality legal advise as it gives them a sense of security and
quality legal advice can never be underestimated. The process briefly, is as
follows; the vendor has the responsibility of giving the buyer as much
information about the property as possible and the buyer must find out as much
as possible about the property. This is where quality legal advice is important.
The price is agreed between the two parties then contact is made with "Lantmäteriet"
(The Swedish land registration Authority.) They will write a "Köpebrev" which is
a contract between vendor and seller. In this contract, a full description of
the property is stated as well as the agreed price and information on how and
when to pay for the land regisgtry entry. The cost of this document is about
£200. If the property is large ( in excess of 2 hectares) the buyer has to
ask for "förvärvstillstånd", This additional document is also provided by the "Lantmäteriet"
and costs approx. £250. The "Lantmäteriet" will then register the new
ownership and the buyer gets a document called "Lagfart". The cost for document
is £65.00 and on top of this, you will have to pay stamp duty which is 1.5 % of
the purchase price. The cost of extras such as furnishings can be deducted when
calculating the amount of stamp- duty required.
So if you are seeking an holiday home insurance quote for a property in cities
like Stockholm, Gotherburg, Malmo or Uppsala why not see if we can help?
In addition, Assetsure provide overseas property insurance and holiday home
insurance for other countries including Australia, Austria, Belgium, Bulgaria,
Brazil, Canada, Cape Verde, Chile, Croatia, Cyprus, Czech Republic, Denmark,
Estonia, Finland, France, Germany, Greece, Egypt, Hungary, Iceland,
Ireland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Monaco,
Montenegro, Morocco, Netherlands, New Zealand, Norway, Poland, Portugal,
Romania, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland,
Thailand, Turkey, United Arab Emirates, United Kingdom (UK) and Venezuela.
Guide to Holiday Home Insurance Sweden