Sweden, renowned for its high quality of life, is often perceived as an expensive place to live. When considering the cost of living in Sweden, it’s important to compare key expenses like housing, food, and transportation with those in other countries, such as the UK. This article explores whether Sweden’s cost of living is indeed higher than that of the UK, providing insights into how the two countries stack up in terms of daily expenses and overall affordability.
Table of Contents
How expensive is Sweden?
The cost of living in Sweden is relatively high compared to other European countries A family of four estimated monthly costs are 2,775.4£ (37,471.0kr) without rent.
There are numerous reasons to move to Sweden, and if we should list a few, we’ll start with the excellent healthcare system, free university education, generous work benefits and so on. Although the country is often listed in the top 10 of the World Happiness Report, the cost of living in Sweden is pretty high, especially in the capital Stockholm.
In Sweden, there is no minimum wage and it is determined by collective bargaining in the given sector and industry. However, the minimum wage tends to be around 60% to 70% of the average wage by making the country way too generous to other countries.
Can foreigners open a bank account in Sweden?
If you’re about to move to Sweden, having a bank account is a good idea, and as an expat, you’re legally allowed to open one. However, the requirements to open a bank account depend on whether you’re already an EU/EEA national or not.
For EU/EEA residents the needed documents can include:
- Passport
- Resident permit
- Employment contract
- Swedish ID card
If you’re not an EU/EEA citizen, then the Swedish banks will require a personnummer (personal tax number), which is the Swedish tax identification number. Without one, you’ll still be able to open a bank account, but it’ll be with many restrictions, including no online banking options and no debit card.
Also, as a non-EU/EEA resident, you’ll have to contact the chosen bank in advance, since non-EU/EEA expats often have difficulties when simply going to the bank and trying to open an account. Also, sometimes, some banks require additional documentation, such as salary slips and utility bills.
If you’re wondering whether you can open a bank account in Sweden before arriving in the country – unfortunately, the answer is no. Sweden is known for its strict laws when it comes to opening a bank account online, and you’ll have to be present and visit the bank in person.
Accommodation costs in Sweden
How much is the monthly rent in Sweden? Rent in Sweden is very pricey, especially if you choose to live in big cities like Stockholm, Gothenburg and Malmö. Even if you have enough money, finding a place to rent can be challenging, and many expats wait for years in the queuing systems for rental accommodation. Due to the high competition in the rental market, Sweden is well known for its dubious practices when it comes to long-term leases, and expats prefer to buy a house rather than look for a rental.
If we speak in numbers, the rent for a one-bedroom apartment in Stockholm or other big cities is 10,115.37 SEK, which is £750, while large ones can reach 15,868 SEK (£1200).
The good news is that if you are renting an apartment in Sweden, water and heating bills should be included in your rent, while gas and electricity should be somewhat reasonable.
The needed documents for a rental contract in Sweden are the following:
- A personnummer
- Employment contract
- Sufficient income proof
- Guarantor (if your income is too low)
As we’ve mentioned above, finding a rental property is more challenging than buying an apartment, and on that note, the country is known for its low interest rates. There are no legal restrictions for a foreigner when it comes to buying an apartment, and the whole process should be fast and painless.
Also, it is good to know that when buying an apartment, to secure your mortgage, you’ll need the following documents:
- Personnummer
- Swedish ID card
- Credit history
- Employment income
- Residency permit
So what are the average house prices in Sweden?
- Price per square meter in the city – 53,500 SEK
- The average price to buy a home in Stockholm, Sweden’s most expensive city, is around 74,900 SEK per m²
Cost of utility bills
A single person’s estimated monthly costs are 758.1£ (10,234.8kr) without rent.
You’ll probably need to be prepared to part with about 1,162 SEK every month that will cover your electricity, heating, water supply and waste removal services. Internet service providers will charge you about 331 SEK per month.
Transportation expenses
Transportation is also expensive in Sweden, and owning a car can be very costly. Public transport is slightly more cost-effective as children, students and senior citizens travel at discounted rates. Here is how much you can expect to pay for transportation:
| Type of product | Price in SEK |
|---|---|
| One-way ticket (local transport) | 36.00 SEK |
| Monthly pass (regular price) | 835.00 SEK |
| Taxi rates per 1km (normal tariff) | 20 SEK |
| The price of 1l of petrol | 19.25 SEK |
And when it comes to railway tickets, your best bet is to get a monthly pass, to travel more cost-effectively.
Cost of necessities
The most interesting fact about the Swedes is that they mostly eat at home and perceive this as a social activity with friends. They still go out to eat, sometimes, but that is a bit of a luxury. For example, if you want to eat in a restaurant in Sweden, you’ll pay around 200+ SEK for a cheap meal. On the other hand, if you want to pamper yourself, then the expected cost for a nice dinner with a few drinks will be around 800 SEK.
Food costs in Sweden
If you love cooking for yourself and your family, then we have good news – the food at supermarkets in Sweden is surprisingly cheap. According to the Institutet för Privatekonomi/Swedbank, an average person in Swedish, who eats mostly at home, spends around 6,110 SEK per month.
| Product | Unit | Price in SEK | Price in £ |
|---|---|---|---|
| Milk | 1 liter | 16 kr | 1.19 £ |
| Eggs | 12 | 41.16 kr | 3.05 £ |
| Bread | 500g | 28.22 kr | 2.09 £ |
| Domestic Beer | 0.5 liter bottle | 20.39 kr | 1.51 £ |
| Chicken Fillets | 1kg | 119.46 kr | 8.85 £ |
| Tomato | 1kg | 44.13 kr | 3.27 £ |
| Potato | 1kg | 16.09 kr | 1.19 £ |
| Banana | 1kg | 25.96 kr | 1.92 £ |
Takeaways
In conclusion, we could sum up that if you work in Sweden, then the cost of living won’t seem that high, as salaries are also high. And if some costs for things match the cost that you’d pay in the UK for the same stuff, other commodities are rather expensive in comparison.
So, if you’re a retiree, who is moving for good to Sweden, or a student on a fixed budget, you may consider being careful with your monthly expenditures, that’s for sure.
(3 votes, 100.00 % )
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