Sweden-a Scandinavian nation

Sweden is the largest country in northern Europe and Stockholm is its capital city. Sweden, a democratic nation, is a member of the United Nations and has also joined other elite forums. The country has a rich inheritance, fraught with war and ancient civilisation. In warring time, it kept itself aloof from all warring nations and it shows by the way of the people residing there - they love to be peaceful and cool all the time. The population density is among the lowest in Europe and the wealth distribution pattern follows a very homogenous pattern, making Sweden a very prosperous country.

Economic condition of Sweden

Sweden is an export-oriented market and having proven its dexterity in all the areas of economy, its growth rate has been phenomenal over the years. Ongoing privatization has a unique blend with the social reforms. Pharmaceuticals, communication services and the oil market are fuelling the growing economy. In 2006, GDP was recorded at 5% and the unemployment rate has taken a dip. All these factors are making Sweden a place worthwhile for real estate investment. The income distribution is in equilibrium, as Ginni Co-efficent fixed at .20 which is great in comparison to all other nations. The living standard and high tech enabled life pattern has pitted Sweden among the top notch nations. Sweden is all set to capture the imagination of entire world by putting itself on the growth track.

Real Estate Market in Sweden

The Swedish Real Estate industry is growing with annual sales of 130,000 new homes. The average price range starts from US$120,000. The quality of houses is very high. Mild climate, and the ability of Swedish people to invest heavily in real estate market, is driving the property market, particularly the housing segment. During the last two years, prices have grown many folds. Government regulations and control of the real estate industry is very stringent. In fact, a two-year university course is required in order to become a licensed broker. Stockholm and Gothenburg are the two densest urban areas in Sweden and the real estate market is having its major base surroundings these two areas. Malmo is another city, expected to be growing by in an year or two, as a bridge construction work is underway, joining it with Copenhagen. Thus, the market is expected to take a high jump. Real estate is now started gaining attention from all the major nations as now Sweden has started creating infrastructure required for the soaring demand of the real estate market.

Process of striking a deal in Swedish Real Estate Market

Real Estate Agents carry the entire burden as well as responsibility of making through a deal for all the parties involved. It is not common to have your property valued but it is always good to hire independent surveyors. When you are satisfied with your requirements regarding purchase of property, a completion date can be agreed through your Real Estate Agent. It should be clearly known that the main task rests at buyer’s end to apply for the deed of the title within 90 days of the sale transfer and submit for registration. Stamp duty on registration of title deeds could be charged at the rate of 1% of the purchase price. Tax is payable at an annual rate of around 1.5% of the properties and is also levied on registered foreign ownership of property.

Conclusion

Swedish real estate market is now gaining momentum as investors are finding it a viable option to lay aside their wealth in this fast growing market. This market has witnessed a growth phase and now with boost in tourism and better facilities, the growth is expected to be at a more rapid pace. With FDI pouring in without blinking go get a real chunk by putting your wealth in the Swedish real estate market.

For further details, have a look at all these resources-

http://www.amlaspain.com/p-sweden-real-estate.html
http://property.practicallaw.com/4-204-1290
http://property.practicallaw.com/4-204-1290
https://www.rreef.com/GLO_en/bin/RREEF_Global_Real_Estate_Investment_Performance_2006_and_2007_(March_2007).pdf
http://www.isa.se/templates/News____2530.aspx

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