Land costs the price of a cup of coffee, houses cost 1 euro in Europe.

The Gotene region in Sweden is causing a stir by offering land for sale at the price of just one cup of coffee, with lenient terms and conditions, attracting a flood of calls from potential buyers. Similar programs are attracting significant interest from potential customers and are part of plans to attract residents, preserve heritage, or stimulate the real estate market in Europe.

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

Gotene regional government

A picturesque countryside

The Gotene region, located about 320 km from the Swedish capital Stockholm, is offering around 30 plots of land for sale at prices starting from 1 krona (2,400 VND) per square meter.

According to CNN, these are plots of land where lucky buyers can build their dream home to live in or as a holiday retreat. Gotene is a quintessential Swedish countryside region with a population of around 13,000, including the town of the same name with a population of approximately 5,000. The region is situated on Lake Vanern, the largest lake in the European Union. For hikers, Gotene also boasts a nearby small mountain, Mount Kinnekulle. In addition to the Platabergens Geopark, the region also includes another UNESCO World Heritage site: the Lake Vanern Peninsula and the Mount Kinnekulle Biosphere Reserve.

Mayor Johan Mansson of Gotene said the reason the government is selling land at "shocking prices" is due to the economic recession and declining population. They decided to select plots of land that had been on the market for many years without finding buyers, ranging in size from 700 to 1,200 square meters. The program launched last month and immediately attracted numerous interested buyers.

"We have two people in charge of answering the phone, and they've been working non-stop for days. We're basically in crisis mode," said Mr. Mansson. Due to overwhelming demand and calls coming from all over, the authorities decided to postpone the sale until early August to carefully consider the situation and possibly hold a tender. Currently, buyers do not need to be Swedish citizens or have committed to permanent residency. However, the local authorities may reconsider this. Furthermore, Mr. Mansson added that buyers must begin construction within two years of purchasing the property, with estimated construction costs of around 3-4 million krona.

The era of affordable housing

Mayor Mansson did not rule out the possibility of implementing plans similar to the €1 housing programs in Italy. "We have plenty of land and we'll have to sit down and see what else we can do besides just selling 30 plots. If you want a peaceful life in this country, we can offer a high quality of life in a perfectly suitable way," he said.

Many small towns in Italy, primarily in the south, are offering €1 house programs to address declining populations and to restore older buildings instead of demolishing them. However, according to House Beautiful , buyers need to consider the associated costs to truly benefit from these programs. The programs stipulate that buyers must commit to renovating the house within 1-3 years. Fees related to completing the purchase typically range from $5,000 to $6,000. Afterward, renovation costs can range from around $25,000, not including other expenses related to hiring contractors for renovations and finishing touches in these remote locations. Many Italian regions currently have €1 house programs, including Sicily, Tuscany, and Piedmont, as well as villages near Rome.

Investing in real estate abroad

On June 29th, House Beautiful listed some of the best places to invest in real estate abroad at this time, taking into account price trends and livability. The list includes Portugal, Spain, the British Turks and Caicos Islands, Costa Rica, Mexico, the UAE, and Colombia. Besides some countries in other continents, the reasons why foreigners are investing in real estate in Europe stem from several factors, including the euro's depreciation against other currencies and lower interest rates compared to the US. In addition to diversifying investment channels, owning property abroad also allows buyers to access new cultures and environments.

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