“For the cost of a cup of coffee.” A Swedish city offers land for sale to revive the housing market

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A Swedish city offered those wishing to buy 29 plots of land at a very low price, no more than the cost of a cup of coffee, and starting at one Swedish krona per square meter in a city 200 miles away from the capital, Stockholm.

CNN reported that the city of Utna, southwest of the capital, Stockholm, decided to sell 29 plots of land at prices starting from one Swedish krona (9 US cents) per square meter. Lucky buyers can build their dream home on it to live in or to keep for vacations, since it does not require the person to be a resident of Sweden or to reside there.

City Mayor Johan Mansson justified the reasons for this step by saying that the issue is a combination of the economic downturn and the decline in the population in the countryside.

He added: “The housing market is very slow in our region and in Sweden in general, due to high interest rates and a little recession, so we wanted to revive the market.”

He continued: "We are also seeing a declining birth rate and an aging population, so we have to do something and bring more people here." He described the situation as "exceptional and requires exceptional measures... so we took this step."

Source: CNN - Publication date: 30.06.2024 - https://r.rtarabic.com/xtyc