Apartments prices in downtown Stockholm Downtown Stockholm has some magnificent apartments. In what is probably the most beautiful capital city in the world, even an ordinary interior will be invariably be compensated for by a great view close by or a charming streetscape. Traditionally, Östermalm is where ‘the establishment’ lives and nowadays the nouveau riche also. Then there is Bohemian, up-and-coming Södermalm and professional, thirty-something Vasastan, which has its own little going out ‘strip’. Kungsholmen is full of established neighbourhoods, offers easy access to Riddarfjärden and provides wonderful people-watching opportunities on Nobel Dinner night. According to Mr Hans Bodén of estate agents Jurist&mäklarhuset in Östermalm, the most expensive streets to buy on are Strandvägen and Narvavägen. Not so surprising, perhaps. Bodén says that people will always pay for a sea-view. Bodén confirms however that prices in Östermalm are very stable so investments are in theory safe. Monthly service charges vary enormously depending on how elaborate the communal areas are and on the level of service provided. But if you have a taste for beautiful things, do attend a viewing for a look at some truly magnificent properties. Bodén recommends in particular one beautiful penthouse on Narvavägen. With three bedrooms, a balcony and magnificent view, the starting price is SEK 8,500, 000. The helpful people at Svensk Fastighetsförmedling, the largest estate agency in Sweden, provided average sale price per square metre information for apartments throughout the city.   Average price per square metre     Highest price achieved per square metre       July 2002- June 2003 January 2003- June 2003     Kungsholmen      29 452 39 646   3 rum, 99 m2 Södermalm 26 795 40 540   1 rum, 37 m2 Vasastan 29 921 46 539   1 rum, 26 m2 Östermalm 30 174 47 647   1 rum, 17 m2 According to Mr Nils Lagerlöf, who works for the agency, their most expensive properties are those with a view over Riddarfjärden at northernmost Södermalm. This area, known as Mariaberget, is, after Gamla Stan, the oldest part of Stockholm with historic residential properties and picturesque streets. Lagerlöf says prices on Södermalm have gone up a lot in the last ten years and he believes it still a good investment area. Lagerlöf says there is nothing to stop foreigners buying apartments in Sweden. He advises foreign buyers to understand fully, however, that apartments are for owner-occupiers only in Sweden and not for investors. He says that the tenants associations of apartment buildings are strict about this. Acknowledging the extraordinary speed of the sales cycle here in Stockholm (properties are sold within hours sometimes), Lagerlöf says the best advice he can give is to watch the websites. A great search-engine for buyers is www.hemnet.se, which searches most agency listings. Dagens Nyheter has an excellent property supplement also on Sundays. Probably the next best advice though is just to study the apartment market by going to as many viewings as possible. If you want to look for an estate agent in a particular location the Stockholm edition of The Yellow Pages has more than ten pages of listings. “Fastighetsmäklare” is the Swedish for estate agent. FMF is the estate agents’ professional body in Sweden and has a website at www.fmf.se. -Edwina Hogan © 2006, Swedish Bulletin. All rights reserved