Property Investment Opportunities in Sweden

March 5, 2009 - PRLog -- Often considered too remote or perceived as too expensive, Sweden rarely features in a property investment portfolio. However, with an average property price of €155,000 in Q4 2008, Europe’s 4th largest country may be worth considering.

Those in search of a lifestyle investment may want to take a look at Sweden’s ski resorts. While perhaps not the first on many people’s list of Europe’s top ski destinations, Sweden has over 25 ski resorts. These include Åre, currently hosting the FIS Ski World Cup finals, Storlien on the Norwegian border and Vemdalen, home to Klovsjo, voted Sweden’s prettiest village by travel writers.

Perennially popular with Swedish skiers, the country’s ski resorts are now being discovered by foreigners, particularly Norwegians who are attracted to the considerably cheaper prices in the neighbouring country. With a long and guaranteed ski season (November to April), many resorts are currently under expansion. For example, Storlien plans to extend its facilities and development at Klovsjo means the resort’s accommodation will cater for 2,000 visitors on completion.

In common with many developed countries, Sweden’s property market has not been immune to the economic slowdown and according to official statistics, house prices experienced a year-on-year drop of 2% in Q4 2008, the first annual decrease since 1996. Falls were higher in Greater Stockholm and Gothenburg where property prices went down by 5%. However, monthly statistics released for December show a turnaround – prices increased by 3% in Gothenburg, 2% in Malmö and 1% in central Stockholm.
 
As the Swedes prefer renting to buying, property investment in Sweden provides plenty of opportunities for buy-to-let, particularly in the cities. For instance, Malmo, situated a bridge journey away from Copenhagen, is popular with commuters to Denmark who prefer to live in Sweden where the property is cheaper. Properties in many ski resorts also have good letting potential since most resorts are popular with holidaymakers year round.

“Sweden is definitely an unusual addition to a property portfolio,” says James Gonzalez, Market Analyst at Obelisk Investment Property, “and not one most people would think of. However, its surprisingly low property prices and a reasonably healthy property market make it one to explore.”

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