In the last decade, 37% of property owners in the Swedish city have made more than SEK1million, according to a new survey, and prices are still rising
One third of those who have invested in properties in Stockholm, Sweden, in the last decade have achieved a profit – with 37% of them making more than SEK1million, a new survey shows.
Stockholm property investors earned SEK566billion (US$86billion) in real estate transactions since 2004, according to the Bjurfors Property Barometer findings, which have just been published.
During the past decade, 32% of Stockholm housing deals made a profit, involving more than half a million investors. Of these, 37% earned more than one million. On average, those who had gone plus benefits totalling SEK1.1million (US$166,962), according to the survey from the Bjuffors real estate agency.
Pontus Kopparberg , CEO of Bjufors, Stockholm, which has offices overseas, says investor profits have risen sharply thanks Stockholm’s to the rising housing market, but many choose not to sell their property due to capital gains tax charges.
Over the past 10 years, prices of condominiums in downtown Stockholm have doubled and in the long-term, property investment has produced better yields than the stock market – and will continue to do so.
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