Land for a cup of coffee, house for 1 euro in Europe

The Göten region in Sweden is causing a stir by offering land for sale for the price of a cup of coffee, with such loose terms and conditions that buyers from all over are calling to inquire. Similar programs are attracting great interest from potential customers and are part of plans to attract residents, preserve or stimulate the real estate market in Europe.

The village of Hallekis in the Gotene region of Sweden has only 800 inhabitants.

Gotene Regional Government

The romantic countryside

The Gotene region, about 320 km from the Swedish capital Stockholm, is selling about 30 plots of land with prices starting at 1 krona (2,400 VND)/m².

According to CNN, these are the plots of land where the lucky buyer can build their dream home for living or as a vacation home. The Göten region is full of rural Swedish culture with a population of about 13,000, including the main town of the same name with a population of about 5,000. The region is located on Lake Vanern, the largest lake in the European Union. For those who like hiking, Göten also has a small mountain nearby, Mount Kinnekulle. In addition to the Platabergens Geopark, the region is also home to another UNESCO-listed protected area, the Lake Vanern Peninsula and the Kinnekulle Mountain Biosphere Reserve.

The mayor of Gotene, Johan Mansson, said the reason for the "shocking" land sale was the economic downturn and population decline. They decided to choose plots of land that had been on the market for many years but had no buyers, ranging in size from 700 to 1,200 square metres. The program was launched last month and was immediately inundated with buyers.

"We have two people on the phone and they are sweating for days. We are basically in crisis mode," said Mansson. Due to the high demand and calls from all over, the authorities decided to postpone the sale until early August to consider it carefully and possibly hold a tender. According to the current regulations, buyers do not need to be Swedish citizens or commit to permanent residence here. However, local authorities may consider this further. In addition, Mansson added that buyers must start building the house within two years of purchase, with construction costs estimated at 3-4 million kronor.

Cheap housing times

Mayor Mansson did not rule out plans similar to the €1 home sales schemes in Italy. "We have a lot of land left and we will have to sit down and see what else we can do beyond selling 30 plots. If you want to live peacefully in this country, we can provide a high quality of life that is perfectly adequate," he said.

Several small towns in Italy are offering €1 homes, mostly in the south, as a way to combat population decline and restore historic buildings rather than demolish them. However, according to House Beautiful , buyers need to consider the costs involved to actually take advantage of such a program. The programs all require buyers to commit to renovating their homes within one to three years. Closing costs typically range from $5,000 to $6,000. After that, renovation costs can run as high as $25,000, not to mention the costs of hiring contractors to renovate and finish the house inside and out in these remote locations. Many places in Italy have €1 home programs, including Sicily, Tuscany, and Piedmont, as well as villages outside Rome.

Real estate investment abroad

On June 29, House Beautiful listed the places worth investing in foreign real estate at this time, taking into account price trends and places worth living. The list includes Portugal, Spain, the British Turks and Caicos Islands, Costa Rica, Mexico, the UAE and Colombia. In addition to some countries on other continents, the reasons why foreigners invest in real estate in Europe come from many factors, including the euro's lower value compared to some other currencies, and interest rates in Europe are also lower than in the US. In addition to diversifying investment channels, owning a home abroad also helps buyers access new cultures and environments.

Source: https://thanhnien.vn/dat-gia-1-tach-ca-phe-nha-gia-1-euro-o-chau-au-185240629210603154.htm