The Swedish condominium associations are currently going through a difficult time with increasing costs for energy, heat and, above all, mortgage interests. Our association BRF Prinsessan cannot avoid increases either but we can stick to the plan to raise the fee for apartments by 3% every two years. The fee will therefore be increased by 3% from 1 January 2023. It is sensationally low in these times and is due, among other things, to on the low mortgage of SEK 3,100 per sq.m. We know that some associations in the neighborhood are around SEK 7,500 in mortgage per square meter (square meter of apartment).
We can see that interest in buying apartments in our association in 2022 has doubled, and this is likely due to buyers wanting a financially stable association.
We are confident with this increase and the strong financial situation that our association has. The same applies to the investments that lie ahead. Already next week, we will change the kitchen windows and balcony doors in the low-rise building's 48 apartments, according to plan. That investment is made with own funds, no new loans are taken.
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