Stockholm rents rise 20 percent in one year

The cost of subletting an apartment in the Swedish capital continues to rise quickly, despite a growing supply, with the average price 20 percent higher now than it was at the same time last year.

Stockholm rents rise 20 percent in one year
Swedish rental prices on the rise

Stockholm prices have increased the most nationwide, according to new statistics courtesy of Swedish buy-sell site Blocket.

In the Swedish capital, an average one-room apartment will set a tenant back 6,043 kronor ($941) each month. Gothenburg landlords charge an average 4,375 kronor, with flats in Malmö in the south coming in at 4,265 on average.

Despite the housing shortage across the country, however, the supply has increased since 2012. There are 11 percent more flats advertised on Blocket now than at the same time last year.

There have been a total of 47,500 apartments advertised, although a number of these are likely to be false ads.

Related story: How to avoid fraud in the Stockholm house-hunt

In Stockholm, there have been 8,000 ads placed for one-room apartments this year.

“We believe that the development will continue for the rest of the year, but will then drop off a little,” Robin Suwe, spokesman at Blocket, told the TT news agency.

“We don’t yet see any signs that subletting apartments should be harder because of the higher price brackets. More and more apartments are being rented out thanks to the increased supply,” he added.

Prices have also increased due to a new law, which came into effect on February 1st, which gives apartment owners more flexibility in setting rents for sublets that are more in line with the actual costs of ownership.

TT/The Local/og

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Fraudsters escape prison for major online scam

Several fraudsters who used Swedish buy-sell site Blocket to defraud 268 people of more than one million kronor ($156,000) won't end up going to prison following a court ruling.

Fraudsters escape prison for major online scam

One of the main perpetrators of the scam was initially sentenced to two years in prison for offences dating back to 2008. However, he avoided prison in part because five years elapsed from the time the crime was committed to the time the ruling was handed down, the local Hallands Nyheter newspaper reported.

Many of the dodgy deals involved victims shelling out hundreds of kronor for mobile phones, computer games, and other electronic items. One victim was tricked into paying for a phantom mountain cabin while another bought several non-existent puppies.

It’s estimated that over a million kronor was spent on the fake items although the actual number is likely to be much higher as it is believed many victims failed to report the fraud.

A total of 23 people, most from western Sweden, were prosecuted with 22 convicted of serious fraud. Most denied the charges.

The three suspected ringleaders were sentenced to 18 months in prison. A 26-year old residing in Halmstad was given a two year sentence for serious fraud.

A total of 13 of the 22 people convicted appealed their convictions. One 26-year-old avoided a prison sentence and was instead given a fine and released on probation as the court took into consideration that he was 21 when the fraud took place.

Many others had their sentences modified and reduced. Only two men, aged 26 and 27 years old respectively, were given a prison sentence of a year each. A 23-year old woman was acquitted completely.

In its lengthy ruling, the court added that the crimes were organized and had been carried systematically with offenders working together to target victims.

Last month it was revealed that fraudsters were posting fake apartment listings to target students with Blocket urging users to keep their wallets sealed under a contract is signed.

“If a landlord starts talking about sending money, that’s when you should report him to us,” a spokesperson for Blocket told The Local.

In July, it was reported that a man had conned 50 Swedes to part with 400,000 kronor for items that the buyers never received using Blocket.

The Local/pr

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