Götene sells lakeside plots for just 10 cents to boost population

The location might tempt people to participate in the program. The town of Götene is situated on the shores of Lake Vänern, the largest lake not only in Sweden but also in Scandinavia and the entire European Union (EU).

CNN reports that around 18,000 people live in the Götene region—just under 5,000 in the town and 13,000 in the municipality. However, this number could soon increase due to the new program.

In these areas (in northern Sweden, about 190 miles from Stockholm), 29 plots have been put up for sale. Prices start at 1 krona per square meter (about 10 cents). On this terrain, buyers can build year-round or vacation homes.

According to CNN's calculations, building a house on a purchased plot usually costs around 3-4 million kronor or between 260,000 and 380,000 dollars. Meanwhile, the plots typically cost about 500,000 kronor (about 48,000 dollars).

The program launched last month is open to everyone—you don’t have to be a resident of Sweden or declare a permanent residence in Götene. There is only one condition—the buyer must start building a house within two years of purchasing the plot.

"We have received thousands of applications," admitted Mayor Johan Månsson. Due to the high interest, the bidding process has been halted until early August.

As he explained, the program was launched because several unfavorable factors had accumulated. The main reason is the economic slowdown and the decline in rural population. "The housing market is additionally in weaker condition due to high interest rates and a slight recession. Therefore, we wanted to boost and stimulate the market a bit," he explained.

The mayor emphasized that in the future, the town might introduce a program similar to the "1 euro houses" in Italy. The uncertainty about this idea stems from the fact that although there is still a lot of available land, an analysis needs to be conducted to calculate how many plots can be offered.

Italy has long been fighting the depopulation of towns by offering cheap houses. In December 2023, the authorities of the town of Pratola Peligna in the province of L’Aquila in the Abruzzo region decided to take this step. Currently, about 7,000 people live there.

Fifteen abandoned buildings were put up for sale. Potential buyers of the 1 euro houses had to meet several conditions, including signing a contract with the authorities within two months and presenting a renovation plan that had to be completed within four years.