The town of Jotene in central Sweden is selling 29 plots of land at prices starting from 1 krona (9 cents) per square metre.
According to CNN, the city has a population of just 5,000 people and is located on the shores of Scandinavia’s largest lake, Vänern. The city’s mayor, Johan Mensson, said they were “selling out” because of the economic downturn and the shrinking rural population.
“The housing market in our region and Sweden as a whole is currently developing very slowly due to high interest rates and a slight recession, so we wanted to inject into the market. We also see a low birth rate and an aging population,” he explained.
The land that had been on the market for many years was put up for sale. Since May, regarding 30 interested buyers have contacted them, four of whom have already purchased plots of 700-1200 square meters. The only requirement is that construction of the house must begin within two years of purchasing the plot.
“It’s gone viral and we’ve had thousands and thousands of requests on our phone exchange. We have two people on the phone exchange at City Hall and they’ve been sweating a lot over the last few days. We’re basically in crisis mode,” the mayor added.
They had to suspend the bidding process until early August to decide how to proceed. The article notes that the land will likely be auctioned off. For now, anyone can buy it, but these rules may be revised.
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2024-07-08 09:59:52
