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Götene, about 200 miles from Stockholm, is selling plots of land starting at 1 krona per square meter or nine US cents per 10 square feet. Buyers must build a home on the land with plans to either live there permanently or use it as a vacation property, according to CNN.
Götene’s mayor, Johan Månsson, told CNN the town decided to launch this scheme to attract more people to the area, which has seen “low birth rates and an aging population” for some time now.
The plots being put up for sale had been on the market for many years, Månsson said.
Since the town launched the scheme in May, it has received thousands of requests and the government has decided to pause buying until early August so they can fine-tune the process.
CNN reports that when Götene starts selling off land again, it is likely there will be a bidding process instead of just selling the plots at that low price of 1 krona per square meter.
Götene, Sweden
Jan Kjerrman / 500px | 500px Plus | Getty Images
Building a house in the area typically costs 3 to 4 million krona, or $283,000 to $377,262. Plots of land usually cost 500,000 krona, or $47,158, Månsson said.
As of right now, anyone can buy a plot. The town does not currently have any specific rules about legal status, but visa rules are still up to the Swedish government.
Götene’s only official requirement is to build the house within two years of buying the land.
With their scheme going viral, the town’s mayor says it is considering selling more land or even cheap houses like the viral one-euro homes that Italy has become known for.
“We have a lot more land, and we’ll have to sit down and see if we can do something to make something more of it other than just these 30 plots. We need something to offer the callers,” he told CNN.
Månsson said this program has brought hope to the town.
“If you’re seeking a quiet life in the country, we can bring you a high quality of life,” he said. “It’s the perfect match.”
Götene is located in a rural area near Lake Vänern, the largest lake in Sweden. It is also close to several UNESCO-rated sites: the Platåbergens Geopark, Lake Vänern Archipelago, and Mount Kinnekulle.
Conversions from Swedish krona to USD were done using the OANDA conversion rate of 1 euro to 0.09 USD on July 1, 2024. All amounts are rounded to the nearest dollar.
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This article was originally published by a www.cnbc.com . Read the Original article here. .