Buying income property in Sweden
August 8, 2007 11:04pm CST
I would like to learn how to buy income property a flat or an apartment in Stockholm, Sweden or in close proximity thereto. I travel to Sweden every other summer and I would like to buy a small flat and rent it out. I have heard that most people are renters in Sweden and once they rent an apartment, they never leave because it's so hard to find a place to rent which means you don't have to worry about finding renters or people moving in and out. Does anyone have any idea on how to finance and find flats in Stockholm?
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12 Aug 07
I can't answer your question but I think it's a good one, and I started looking for the answer on the internet. The Swedish government's website is running too slowly right now for me to get past the home page. However, a couple of considerations would be: - make sure there are no restrictions on foreign ownership of the type of property you want to buy - understand the tax implications fully - have a clear plan for getting your income out and understand what the tax implications of selling the property will be. Some of this depends upon your own country of residence and your tax status there, as well as on the Swedish laws. If you travel to Sweden after owning the rental property, currency fluctations will be of less concern to you than they would be if you never had a need for Swedish currency. Since you will be earning money in the same currency as you will be spending it, this could work out well for you. I hope to see some informative answers to your question from someone who knows about purchasing real estate abroad. It may be that there is an investment category here with answers. (I just joined so don't know what all is here).
13 Aug 07
Hi Jill, Thank you so much for your information. We are planning to buy the rental property with my in-laws who live in Sweden. We are not going to move there as of yet, but rather will see how things work out. Good points on the tax implications...I must research this! I look forward to any information you come up with and I appreciate your taking the time to find out! Thank you Jill!