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Holiday Home Insurance Sweden

Holiday Home Insurance Sweden

Sweden is considered to be a silent hot-spot 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 registry 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 approximately. £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. The main holiday home areas are: Blekinge, Dalarna, Gaevleborg, Gotland, Halland, Jaemtland, Joenkoeping, Kalmar, Kronoberg, Malmoehus, Norrbotten, Oerebro, Oestergoetland, Skaane, Soedermanland, Stockholm, Uppsala, Vaermland, Vaesterbotten, Vaesternorrland, Vaestmanland and Vaestra Goetaland.