Now we can offer refurbished apartments in safe and sofisticated Sweden from 17,600 Euros!
Are your funds on deposit with a safe High Street Bank earning you a return of perhaps as much as 2% per annum but where your capital is actually depreciating in value?
Why not consider an investment that offers a true net return of between 6 & 7% per annum (depending on exchange rates) and a high probability of capital appreciation, or simply invest in a holiday home that your family can enjoy in one of Europe's most civilized societies.
We have 24 apartments in the town of Tranas that recently underwent a total refurbishment at a price that in London would represent the equivalent of a 10% deposit.
Whether you are a keen fisherman, golfer, into a healthy outdoor lifestyle or simply an investor, then Sweden awaits to amaze you! Certainly not your traditional sun, sea & crazy nighlife location, Tranas in Sweden is a safe friendly place for you and your family to holiday. Nevertheless, you will find sandy beaches around the lakes where you can enjoy every water sport imaginable! The 4 month summer season is an experience you will cherish. Just imagine 20 hours of daylight in July and summer temperatures that often average above those in the UK. And not to mention the fantastic winter atmosphere and sports!
You will find all this in a beautiful location where the cost of living, contrary to common belief, is on par with the rest of Europe.
In Tranas you can enjoy a 3 course buffet lunch for 7 Euros including a beer!
OVERVIEW
We are currently offering this substantial purpose built apartment block of original mid 60`s construction which has undergone extensive refurbishment to include new kitchens with fully fitted appliances & new fitted bathroom suites.
Original features included solid wood block flooring to main living rooms, central heating throughout, double glazing with dust free venetian blinds that are sealed between the glass panels, door entry system operated from telephone hand set, individual post boxes in entrance lobby and much more.
During the period 1999 to 2008 over 3000 apartments were sold throughout Sweden as holiday homes to Norwegian buyers, we are now privileged in being able to provide the same opportunity to the UK.
PROJECT LOCATION
The apartment blocks are located just 2 kms out of town and are shielded by a backdrop of pine trees with footpaths leading to local bathing facilities.
There is a bus stop right outside affording easy access to Storgatan, which is the main High Street and vital nerve centre of this historic town. Storgatan is famous for being the longest and widest shopping street in Sweden and boasting a wonderful selection of shops, cafes, restaurants and art galleries. It also holds a regular market day where stall holders sell their local products. During the summer months a number of musical events take place and are being enjoyed by tourists and locals alike.
Tranas is situated just by the big lake Sommen, which is the gem of this area, with a unique nature and many islands. Here you can experience the idyllic atmosphere of the skerries, bathing and fishing. There is also a boat park with a capacity for 1.000 boats.
Tranas is a great place to spend your summer and winter vacations and also a wonderful place to live. It provides ample opportunities for active leasure time and cultural activities.
Visit the many museums, and sights of historical interest, enjoy a round of golf or some of the many other outdoor activities.
Some of the finest fishing with numerous species to many to mention or try a spot of ice fishing during the winter period. Or perhaps a memorable boat trip on the old steamship Boxholm11 with lunch laid on, might just take your fancy.
OR you can rent a boat by the day from the marina which holds 1000 craft and go on your own adventure tour.
For the cycling enthusiasts, over 130 klms of track around the lakes circumference with many areas of sandy shoreline to enjoy. Bicycles can be rented by the day or week.Tranas Golf Club is situated close by to Lake Sommen just two kilometers from the city center
INDOORS AMENITIES
Passenger Lift
Central heating to all apartments and common parts
Constant hot water
Internal cleaning of common parts and external up-keep of gardens & pathways
Ground floor entrance lobby leading to wide spiral staircase serving all upper floors
Secure door entry system operated by telephone hand set
Substantial Basement area divided to provide storage rooms for each apartment
There is also a communal Laundry/Wash room facility in the Basement.
OUTDOORS AMENITIES (For those there is a separate annual charge per apartment/family of approx 100 Euros which entitles you to a special card giving access)
A new swimming pool
A tennis court
A safe play area for children which has a wonderful selection of swings & slides
Several barbeque areas for the family to enjoy and where you can mingle and meet with neighbours
Ample car parking areas for everyone.
RENTAL INFORMATION
Renting an apartment in Sweden is a way of life, in excess of 60% of the population follow this tradition. Whilst it is customary for landlords to grant tenancy agreements for a 3 month period with the tenant having the right to determine by giving 3 months notice, most tenants tend to rent for longer periods. The landlord does have the right to give notice but there are certain conditions that may apply including offering alternative accommodation, but such matters are normally a matter of negotiation.
Pine View Apartments clients currently have the choice of a vacant or fully tenanted apartment depending on whether your reason for buying is for investment or private family use.The following calculations are based on an exchange rate of 10.5 SEK to the Euro
2 Bedroom Apartment 82sqmGross Rental Income = 4700 SEK per calendar month equal to 448 Euros
Current Service Charge Costs 3296 SEK per calendar month = 314 Euros
Net Income = 134 Euros pm or 1608 Euros per annum which equals to minimum of 6% net return on investment!1 Bedroom Apartments 63sqm:
Gross Rental Income = 3900 SEK per calendar month equal to 371 Euros per month.
Current Service Charge Costs 2531 SEK per calendar month = 241 Euros
Net Income = 130 Euros per month or 1560 Euros which equates to a minimum of 6% net return on investment
Rents will be increased shortly by 5%, this will obviously make the Net Return slightly higher.
SERVICE CHARGES
If you are considering a purchase for personal use as a family holiday home your service charges referred to as "monthly common area costs" will apply:
If you are considering purchasing an apartment for investment purposes, your gross rental income less deduction of the Service charges' which are referred to in the economic plan' will provide a Net return of approximately 6% or 7% per annum.SERVICE CHARGES: which at first glance may seem quite high include all of the following outgoings:
Annual property tax
Buildings and public liability Insurance
Cleaning of all internal and external common parts including snow clearing and gritting during winter months.
Heating and lighting of the common parts and if you do not occupy your flat during the winter months it also includes heating within your apartment maintaining a safe minimum temperature. (Please note: all radiators have an independent meter fitted which registers electricity consumed for which you are liable over and above the minimum usage referred to).
Constant hot water 24 hours daily
Lift maintenance
All common area costs for cleaning and painting of the facade, renovation of ceilings, Pipes, drainage. Exterior renovation and exterior electrical ventilation equipment
2 Bedroom Apartments 82sqmCurrent Service Charge Costs 3296 SEK per calendar month = 314 Euros per month.1 Bedroom Apartments 63sqm:
Current Service Charge Costs 2531 SEK per calendar month = 241 Euros per month.
All of the above outgoings are included in the annual service charges, pre-calculated and approved by shareholders and certified annually by an accountant.
You as an owner have the right to voice and determine your own affairs by democratic vote held at the annual general meeting of association members.IN ADDITION: Each apartment has a centrally heated storage room in the Basement and a separate secure caged area for your Bicycles, skies etc. and in addition there is a secure cold cupboard for boxed or canned food products i.e. sacks of vegetables etc. There is a communal laundry room on the ground floor with a washing machine, spin dryer and ironing facilities.
COOPERATIVE ASSOCIATIONWhat is a cooperative apartment?
A share of Freehold land upon which your apartment forms part thereof.
People who live in cooperative apartments are members of a housing cooperative and own a share of the cooperative's buildings and land in common, enjoying occupancy rights to their apartments for eternity.
Shares (memberships) can be sold and can be inherited or transferred in the same way as other assets.Can you borrow money to buy a cooperative apartment?
After a customary assessment of creditworthiness, banks and other lending institutions may grant loans with the share pledged as collateral.Can you rent out your cooperative apartment?
Yes, you may sublet your apartment for a specified period provided that the board approves. If the board does not approve the sublease, you may lodge a complaint with the rent tribunal. Permits issued by the rent tribunal may be restricted to a certain period of time and may be subject to conditions.
A housing cooperative is an economic association whose purpose is to convey occupancy rights in residential or commercial space with cooperative apartments in the building owned by the cooperative to its members (members of the cooperative). The rules that must be followed in a cooperative are found e.g. in the bylaws of the cooperative. In addition, there are rules stipulated in the Swedish Cooperative Societies Act and the Swedish Cooperative Housing Act. Decisions pertaining to finances and management are made jointly by the members. Members are called once a year to an annual cooperative membership meeting which all may attend and express their opinions on the activities of the cooperative. The board of directors of the cooperative is elected at the cooperative meeting.Is membership in the cooperative obligatory?
Yes. You must be a member of the cooperative before you move into the apartment. The board of directors decides on membership. If you are not accepted as a member of the cooperative, you may lodge a complaint with the local rent tribunal.How do the finances work?
The objective of a cooperative is to look after the interests of all members especially their financial interests and in the optimum way. All cooperatives associations have to provide an "economic plan" in order to satisfy the legal requirements based on the rules and regulations that control it and these are subject to certification by qualified experts in various fields and indeed in the matter of a cooperative requiring finance from a Bank or institute, must be verified and approved in order to qualify for same.What are the cooperative's costs?
Interest expense and or capital repayments of approved Bank loans, property tax, and other taxes. Building Insurance, costs for heating and water, communal lighting, lift maintenance as well as maintenance for repairs, upkeep and or additional amenities, depreciation, management fees, administration including auditing fees etc.How are repairs, maintenance etc… financed?
There are two types of funds for maintenance and improvements that are gradually built up using monthly allocations (common area costs based on the m2 of ones apartment) which are included in the monthly fee. A common fund for financing planned maintenance and improvements as well as an individual fund for e.g. renovation and modernization of your own apartment.Who sets the amount of the monthly fee?
The board of directors sets the annual fee so that it covers the costs of the cooperative. The annual fee is allocated to the memberships in proportion to the share price or share sum, depending on the wording of the bylaws.
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