Swedish town sells land for the price of a cup of coffee

Gotene Mayor Johan Månsson said the economic downturn and a sharp population decline prompted local officials to sell 30 plots of land at rock-bottom prices.

"Real estate in this area in particular and the whole country in general is very gloomy because of high interest rates and economic recession, forcing us to find every way to stir up the market. Not to mention, the low birth rate and aging population also have to consider plans to attract more immigrants," said Mr. Månsson.

According to local government regulations, land buyers can build houses or resorts. Anyone can buy, without having to reside in Sweden or commit to living here permanently.

After a month of implementation, there were 30 interested people, 4 of whom decided to buy plots of 700-1,200 m2 for one krona per square meter.

The news of the land being sold for the price of a cup of coffee spread widely, and Mr Månsson said things began to spiral out of control as thousands of calls were received from around the world. This forced the town to suspend the sale until August to streamline the process and organise the auction.

According to Mayor Gotene, in addition to the land purchase, each house built here costs about 3-4 million krona. The only requirement of the government is that the land owner must build the house within two years from the date of purchase.

Gotene has a population of 5,000 in the town centre and a total of 13,000 in the surrounding areas. The town is considered one of the most beautiful rural areas in Sweden, situated on Lake Vänern, the largest natural lake in Scandinavia and the EU, about 10 times the size of Lake Constance. It is also close to the Kinnekulle mountains, which are home to two UNESCO-listed sites: the Platåbergens Geopark and the Lake Vänern Islands.

Besides, this small town is also about 300 km from the capital Stockholm of Sweden, convenient transportation.