Four bedrooms in a converted water tower in Sweden
$ 2.2 million (SWEDEN KRON 19.7 million)
This four bedrooms Home is a rebuilt, 108-foot-high water tower on Vaxon, an island in the Stockholm archipelago, about 35 minutes east of central Stockholm, the capital of Sweden. The brick tower was built in 1923 on one of the highest points in the field of drinking water supply and was used as a reserve only in 1989, said Jan Tivenius, an agent of Residence-Christie’s International Real Estate, which has a statement.
The current owners bought it in 2000 and rebuilt it into a seven-storey house with an electric sauna on top of a lantern. The property, about a third of a hectare in a hilly park with pine trees, has considerable revenue-generating potential, Mr Tivenius said: Telecommunications companies currently rent an antenna space on the roof of the tower and a small apartment above two cars. also rent.
An unpaved driveway leads uphill to the main entrance to the tower, which opens onto a combined kitchen, living and dining area with 16-foot ceilings and herringbone oak floors. The circular brick walls are lined with large arched windows. The second entrance at the rear provides access to the wooden deck.
The base of the tower has two concentric walls – an inner circle with an outer corridor around – a configuration that was supposed to provide additional support for the reservoir above, Mr Tivenius said. The hallway provides space for a pantry, bathroom and office, as well as a wooden staircase to the above floors.
The second floor has three bedrooms, a bathroom and a pantry. The lights are provided by window-shaped windows.
The primary suite and another bathroom occupy the third floor, where there are tiles with a glass cut-out, which can be seen below.
The fourth floor is an open space, which the owners used in various ways as a music room, a TV room and a guest room. There was a water tank on the fifth and sixth floors; the floor is now separated. The fifth floor is used for storage and the sixth floor has a bathroom and a computer room for telecommunication equipment.
The property is located next to a kindergarten on the east side of Vaxon, which stretches for about two miles from end to end and offers an active harbor and a variety of shops and restaurants. The island is part of the municipality of Vaxholm, an archipelago of the Baltic Sea comprising 70 islands and about 5,000 inhabitants. A series of bridges connect the islands with central Stockholm; the bus from Vaxon takes about an hour. Ferries also transport tourists to Vaxholms Kastell, a massive island fortress that was first built in the 16th century to defend Stockholm.
After falling in 2017 and 2018, Swedish housing prices rose sharply again. Prices last year increased by 7.5 percent compared to 2019, which is according to a. Record number of transactions report from Nordea, the big Nordic bank. Government agency Statistics Sweden showed an overall increase in prices of 6 percent for one- and two-story buildings and a 10 percent increase in prices for holiday homes.
This growth was driven almost exclusively by demand for houses, in contrast to flats and other flats, said Susanne Spector, an economist and chief analyst at Nordea. As in many other markets around the world, the pandemic shifted buyers’ priorities toward garden and remote real estate, she said.
The supply of homes is limited because “the normal rotation of older people moving from their homes to city centers has been disrupted because people have to stay at home,” she said.
Unlike most other European countries, Sweden relied heavily on voluntary measures to slow the spread of coronavirus instead of introducing strict blocking measures. Since April 2, 2006 the country reported 813,191 Covid-19 cases and 13,498 deaths. His excessive mortality rate in 2020 was significantly lower than in most European countries, but higher than in its northern neighbors.
However, consumer confidence continued to grow, which further stimulated price increases. Many households feel well prepared to shop, Ms. Spector said: “Household wealth increased during 2020 – it was a very good year for households overall. Most people have kept their jobs, interest rates are low and the stock market has flourished. “
Competition in the home sector is so fierce that during the first month of 2021, bidding wars led to an increase in selling prices by an average of 8 percent higher than claimed by Erik Holmberg, market analyst Hemnet, Swedish site list. In February, the average time in the house market reached a historic low of 18 days, he said.
Camilla Eggenberger, the agent overseeing Swedish sales for Fantastic Frank, said she had never seen such a big difference between the demand for houses and flats in her 33 years on the market. Everyone wants a piece of land, she said.
“Swedes are known to be very concerned about how they live,” she said. “We spend a lot of our income on our homes.” Now more than ever, people are stuttering and I think they are spending even more money on their homes. “
In Greater Stockholm, with a population of approximately 2.4 million in the metropolitan area, the house market is extremely fast. “It’s really crazy,” Mr. Tivenius said. “Prices have risen 15 to 20 percent a year.”
In the suburban areas immediately around the city, houses have an average of 10 to 15 million Swedish crowns ($ 1.14 to 1.72 million dollars), depending on the area, he said. Anything cheaper would require a major overhaul. The price of more exclusive real estate is between 15 and 20 million crowns (1.72 million to 2.29 million dollars), while waterfront real estate is usually close to 35 million (4 million dollars), he said.
Apartments in central Stockholm average around 100,000 crowns per square meter, which is $ 1,060 per square foot.
Who buys in Sweden
Foreign buyers make up a small proportion of homeowners in Sweden. In 2020 Statistics Sweden states that 37,979 holiday homes were foreign-owned – about 6 percent of the total. The Norwegians accounted for about a third of these owners, closely followed by the Germans and the Danes, 27 percent each. Another 2.2 percent are owned by Swedes living abroad.
In Stockholm, less than 1 percent of holiday homes are owned abroad.
Ms Eggenberger said her non-resident buyers were often diplomats or Swedish citizens who returned to the country after working elsewhere “with a lot of money to spend” for many years.
Basics of purchasing
There are no restrictions for foreign buyers in Sweden. It is usually not necessary to hire a lawyer – the seller’s broker usually handles everything in the transaction, Mr Tivenius said.
In greater Stockholm, the agent’s commission may vary, but homes are usually around 1.5 to 2 percent on average, he said.
Languages and currency
Swedish; Swedish crown; 1 crown = 0.11 USD
Taxes and fees
The buyer pays a stamp duty of 1.5 percent of the purchase price. This only applies to houses, not apartments, said Mrs Eggenberger.
Annual property taxes from this house are approximately 8,500 crowns (970 USD).
Jan Tivenius, Residence-Christie’s International Real Estate, 011-46-70-617-96-06; christiesrealestate.com