Heads or tails? Whichever side the coin falls on, it will still bring you luck, because you can exchange it for a whole plot. An attraction of such unprecedented generosity recently opened in Yetene - a small town southwest of Stockholm. It is separated from the capital by 320 kilometers and several zeros in typical real estate prices. It seems that a spark of entrepreneurial spirit has already ignited in your eyes. So let's get down to business!
Invaluable offer at a low price
The city and municipality of Yetene is a typical rural area in Sweden. The grass is green here, the sun shines, and everything else is going according to plan. Only 13,000 people live in the municipality, with 5,000 in the center. It's hard to call Yetene densely populated, so instead of meeting a stern Swede, you are more likely to encounter Lake Vänern, the largest in the country and the EU. For fishing enthusiasts, there is the endless lake, for hikers, the endless fields, and for those who respect UNESCO's opinion, there are several sites from its list: the Platåbergen geopark, the Vänern lake archipelago, and the Kinnikulle mountain biosphere. Yetene is beautiful in every way, even in terms of prices. Recently, 29 plots of land were put up for sale at a price starting from 1 crown (9 cents) per square meter. What is the reason for such generosity in such ideal conditions? In an interview with CNN, the mayor of the city, Johan Monsson, mentioned several factors that led to the measures taken in the real estate market of Yetene.
- high interest rates when applying for a mortgage or real estate loan;
- The market has been in a recessionary phase for a long period - a moderate but stable decline.
- Yetene is quite compact and quiet, so young people prefer to move to more promising locations. Because of this, there is already low birth rates and an aging population.
In Sweden as a whole and in Yetene in particular, the real estate market is quite slow, and there are no signs of improvement yet. Therefore, the authorities in Yetene have decided to take extraordinary measures. In their opinion, the sensational announcement of the sale of 29 plots for a symbolic fee should attract young investors to the city, capable of breathing new life into it. The properties selected for sale have been available for sale for a long time but have not been able to find new owners.
Results of the Monsson adventure and new conditions for land purchase
Johan Monsson himself did not realize that his bold idea would cause such a stir. The news of selling land at an incredible price of 1 Kč/m² spread around the world literally within a few days. Poor telephone station employees couldn't keep up with the calls because there were only two of them, and there were thousands of people willing to buy land. The program started in June, but so far only four people have been able to buy plots ranging from 700 m² to 1,200 m². Such a meager number of happy owners is explained by the fact that the mayor of Yetene carefully selected candidates and temporarily suspended the program until August due to the inability to deal with all the applicants.
Soon, a special offer will appear again on the real estate market in Sweden, but with a few different conditions.
- The land will be sold at an open auction.
- The price of 1 Kč/m² will only be maintained for those plots that remain without owners.
- Within two years after purchase, the owner is obligated to begin building a house.
- Buying a plot of land can be done by both locals and non-locals non-resident
- Visa rules for investors remain unchanged, so buying land does not mean they will be able to stay in the country all year round.
To prepare the future owner and their wallet, Monsson also indicates typical Swedish prices. On average, the construction of a private house costs 3-4 million kronor (≈ $280,000-$375,000). Mayor Yetene also did not forget to mention his generosity - if he put up plots for sale at a price of 700 kronor for 700 m², then usually similar offers on the market cost 500,000 kronor (≈ $47,000).
Even more surprises from Yetene
Inspired by the success of his initiative, Mayor Johan Monsson became excited and announced the possibility of its expansion. Just like in Italy and Japan. They put houses up for sale for 1€, in Yetene they could also organize a similar scheme to populate abandoned territories and restore the former glory of the town. By publishing an announcement about the sale of land for 1 Kč/m², local authorities hardly hoped to find even one buyer. After a sudden stir, Monsson and colleagues decided to conduct a revision of all available properties. Perhaps, in just a few years, the stable population of 13,000 in the municipality will double.