One of the men was so severely injured he died at the scene. The second man is in intensive care, according to the hospital in Skellefteå.
The incident occurred on Norra Järnvägsgatan, where the balcony released from the wall and crashed down from the third floor.
Police have cautioned all residents in the building not to go out their own balconies. The cause of the accident is still unknown.
“We haven’t been able to establish that so quickly. We will first conduct a technical investigation,” Anders Björk, commander on duty at the Västerbotten police, told TT.
To the best of their knowledge, police believe both men were on the balcony when it came crashing down.