Many of us have picturesque towns of Europe on our travel bucket list, but for those who want a more permanent stay, here’s another possible proposition: Why not buy land there, too?
A town in Sweden made this a less expensive opportunity, as it sold plots of land for the low, low price of 1 Swedish krona per square meter–that’s approximately P5!
READ: Gotene, Sweden Sells Land for 9 US Cents or P5 Per Square Meter
Located 200 miles southwest of Stockholm with a population of 5,000, the small town of Götene, Sweden has become a travel interest after it announced its inexpensive lot sale.
In an interview with CNN, Mayor Johan Månsson pointed out the town’s economic troubles and gradually diminishing population numbers as the major reasons for the sale.
“The housing market is currently very slow in our region and Sweden in general because of high interest rates and a bit of a recession, so we wanted to give an injection into the market,” he said.
“We’re also seeing low birth rates and an aging population so we have to do something, bring more people here,” the mayor continued.
Due to these factors, the local government moved to sell 30 plots that have been on the market for a couple of years. The scheme, which was launched just last month, initially attracted 30 buyers, with four of them buying plots for 1 Swedish krona. After news of the sale spread online, the local government received “thousands and thousands of requests” from interested buyers across the globe.
The town has currently paused the bidding until early August due to the demand. However, once it resumes, the 1 krona price tag may already increase, as it will continue a bidding process instead. In the same report by CNN, Mayor Månsson says that plots of land usually range around 500,000 krona or around P2.7 million. Meanwhile, building a house would cost from three to four million krona or P16.5 million to P22 million.
Aside from the lot sale, the mayor also hinted that they may offer inexpensive houses too, similar to what is done in Italian communities. “We have a lot more land, and we’ll have to sit down and see if we can do something to make something more of it other than just these 30 plots. We need something to offer the callers.”
The previous lot sale scheme allowed anyone to buy a plot, regardless of residency or citizenship, with a stipulation that a house must be built within two years of purchase. However, CNN reports that those permitted to purchase may be subject to change, especially in light of visa requirements.
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