A $1.5 million, 5,000 square-foot, two-bedroom apartment in Stockholm is one of the cheapest in Scandinavia, but you’ll need to be very selective.
Here’s how to get one.
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Swedish authorities require a deposit of 1,000 kronor ($1,898), with a 30 percent deposit for the first month and 50 percent for the second.
This makes it difficult to get into Sweden’s many banks, which require a minimum deposit of 300 kronors ($1.848) to open an account.
If you don’t have enough money to pay the full amount, you’ll have to apply for a loan.
This process is similar to what happens in Germany, where a deposit amount is usually less than the initial loan amount.
Once you’re in the country, you need to register your property with the local authorities.
For this, you will need to provide a deed and a rental agreement.
If this doesn’t work out, you can also apply to the municipal property authority to obtain a certificate of occupancy.
You’ll have the right to appeal this decision to the court.
The process is complicated and expensive, so it is worth checking with your local authorities before making the leap.
If the process is too complicated for you, consider a different home ownership option in Sweden, such as renting an apartment instead.
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