ASK THE EXPERT
Why is now the time to invest in Stockholm’s real estate?
In a world where distance is counted in flight hours instead of kilometers, Sweden is undergoing a transformation and becoming one of Europe’s most interesting property markets. We managed to go through the last world economy crisis without any major difficulties. The property market had about six months of downturn before recovering and we were soon back to an all-time high. Properties in Stockholm and in the rest of Sweden are considered a safe investment over time. In Stockholm, property prices have seen a steady increase every year. This is driven by a shortage of housing, one of Europe’s lowest new production, low unemployment, added population in the city and low interest rates. Historically, real estate has been one of the safest and most profitable investments and we see no reason why it wouldn’t be the same in the future.
One of the best opportunities in Stockholm today is Villa Abborrkroken, which is available for $5.45 million and suspended on a rocky plateau 23 metres above the sea. The architect, John Robert Nilsson, was inspired by art and international architecture.
What trends are you seeing in your market today?
As we have a shortage of housing we are converting a lot of our attics into apartments, which gives a different but wonderful style of living. Most often you are able to build a roof top terrace overlooking the city, which makes these homes very popular. We are also seeing a trend of converting nearby summer homes into permanent villas. The city perimeters are growing each and every year. Former industrial sites are now re-built, creating completely new green suburbs not more than 10 minutes away from the city.
A great example is this historic apartment once inhabited by movie legend Greta Garbo. The apartment is located on the top floor of the building, at the corner of Stigbergsgatan and Lilla Erstagatan, and boasts a fantastic view of the Baltic and the waters off the island of Djurgården.
What is the most unique or exciting property you currently have listed for sale?
We have a unique property for sale and a rare opportunity to own part of the cultural legacy of Western Gothenland situated on the west coast of Sweden.
With astounding views out over the archipelago, The Water Tower, which has been chosen to represent the post-war architecture of the District of Lysekil, is an impressive example of how architectural skills from different eras can come together to produce an accomplished entity in which history meets functionality.
The foundation of the building, built in 1945, is in Bohus granite and blends in agreeably with the surroundings. A lift will take you between the living spaces, with a combined floor space of over 450 square meters, where the top two apartments, which were built later, are glazed-in to enable an uninterrupted view, where the horizon becomes part of the fixtures, and the path of the sun becomes a daily spectacle.
What is the lifestyle and culture of Sweden like?
Sweden is a sparsely populated country, characterized by the longest coastline in Europe (more than 3 200 km), extensive forests and numerous lakes. It is one of the world’s northernmost countries. In terms of surface area it is comparable to Spain, Thailand or the American state of California. Sweden’s borders have been unchanged since 1905 and the country has not been at war since 1814.
Stockholm is generally referred to as Beauty on Water, or Venice of the North which is understandable, as the city is built upon 14 islands. It is surrounded by Lake Mälaren and by the Baltic Sea. The mixture of old and new, greenery and water, picturesque narrow streets and engaging modern broad ones provides an attractiveness you rarely meet elsewhere.
As water covers one third of the city area, the maritime life is an important aspect of the city. There are plenty of bridges, marinas and locks. The water is so clean that you can, in fact, catch salmon in the middle of the city, just a few minutes’ walk from the city center. The climate is very much conditioned by the sea winds, so even the warmest summer day will be contingent upon the sea breeze finding its way into the city streets.
Outside Stockholm in the Archipelago you will find a vast, fan-shaped maritime world of more than 24,000 islands, islets and skerries, of which only about a thousand are inhabited. In summer, the Archipelago is a paradise for sailors and other boaters from all over northern Europe.
The Archipelago and the parks are where people hang during summer time, museums, theaters and the opera play a natural and very important part of the everyday life during the long winters.
Villa Viboda is one property currently available that truly highlights the beauty of the country. On a large garden property, this classic 1909 Djursholm mansion, has a large lawn with apple trees, jasmine bushes and magnificent oaks. Paved paths around the entire house and lovely terraces in all directions create a lovely, protected setting, framed by a wrought iron fence with double gates out toward the street.
What should foreign buyers know about the process for buying real estate in Sweden? Can you offer any insights for those looking to purchase?
In Sweden we work with exclusivity during the sale, which is very different from most countries. Almost all homes for sale in Sweden are searchable on the Internet using one main search engine but because of the exclusivity we also focus a lot on print advertising.
It’s very straight forward to buy a home in Sweden and the deals are made via a registered real estate agent in most of cases. The buyer doesn’t need his own agent because the seller’s agent must be independent and represent both the buyer and the seller during the transaction. There are no special rules for foreigners buying in Sweden but in a few cases the house association demands that you live in the apartment to accept you as the buyer.
Those looking to invest in Sweden’s real estate should consider this six-room dream house, which is typical of the area. It is in an outstanding location, offering access to the sea and an enchanting view of the Kullen peninsula, the island of Hallands Väderö and Torekov´s famous Morgonbryggan jetty.
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