Report on tighter property acquisition controls submitted to the Government
The Government has received the report ‘Who owns the property’ (Vem äger fastigheten). In the report, the Inquiry proposes measures aimed at preventing the Swedish property market from being exploited for crime and countering fraudulent conveyance of rental properties.
“To push back gangs, we need to take action against the criminal economy. That’s why these proposals are important. At the same time, the regulatory burden on companies and other actors in the real estate market must be curtailed. The proposals will now be circulated for comment, and after that we will see what the next steps will be,” says Minister for Justice Gunnar Strömmer.
The inquiry on tighter property acquisition controls has submitted proposals for measures to create better conditions to ensure the acquirer’s identity when acquiring property. Current rules are not always sufficient to ensure the identity of the purchaser, enabling real estate to be used for crimes such as money laundering.
In the report, the Inquiry also proposes a new act on preliminary examinations of a party that purchases a rental property. The aim is to prevent rental properties from being acquired by those who are unsuitable as landlords, for example due to previous mismanagement or links to organised crime.
The Inquiry considers that the proposals would have a preventive and restraining effect with regard to crime in the property market, and that they would provide tenants with significantly stronger protection.