Sweden is the largest country in Scandinavia with Stockholm and its fourteen islands being the Capital city.
Bordered by Norway and Finland, Sweden has had a property construction boom, with over 50 of apartment properties being built in the last 47 years.
 
PURCHASE
 
There are no restrictions on foreign nationals purchasing property in Sweden.
It is usual for an Estate Agent to be consulted when purchasing property in Sweden. They will handle all the necessary paperwork and will keep both parties informed of how the transaction is progressing.
When you have found your ideal property your agent will prepare the “contract of sale” and both parties will confirm to this by adding their signatures.
It is common practice in Sweden to have the property in question valued by an independent property surveyor.
It is the property purchaser’s obligation to apply for the new title deeds within 3 months of the sale transfer and submit them for registration Your Estate Agent will arrange this for you.
 
COSTS
 
Stamp Duty around 1 of the property purchase is charged on the registration of the property.
The Estate Agents fees are normally paid by the seller.
Property tax is charged at 1.5 of the properties regularly assessed value. For newly built property or reformed property there is no property tax for the first five years, with the next five years getting a reduction of 50. The expenses incurred when reforming a property carry a VAT of 25
 
MORTGAGES
 
Swedish banks tend to offer mortgages of 75 of the property value, usually with fixed rate option periods. Repayment periods are also flexible the average period being 20 years. There is a 2 tax payable on the mortgage deeds for Swedish based mortgages.