A beautiful country with friendly people and a fascinating history and culture, Sweden’s understandably attractive to many British expats. However, the high cost of living in Sweden means you should carefully consider your requirements and ensure that you can comfortably cover all your expenses before moving and making a new home for yourself in this exquisite part of the world.

The currency in Sweden

The currency in Sweden is the Swedish Krona (kr). The official currency code is SEK, which is how you will see it displayed at Moneycorp. The Swedish government has the power to decide whether the exchange rate is fixed or floats. 1 kr is divided into 100 öre, also known as ören. Banknotes are available in denominations of 20 kr, 50 kr, 100 kr, 200 kr, 500 kr, and 1000 kr, while coins are available in denominations of 1, 2, 5, and 10 kr. All öre coins were phased out by 2010. This centesimal subdivision is still used in non-cash contexts such cashless transactions and bank balances. When you pay in cash, the price of goods and services is rounded to the nearest Krona. £1 was worth 12.76 kr at 11.15am on 7 February 2023.

Where to live in Sweden

Stockholm is the first city that comes to the mind of many expats who are thinking about moving to Sweden. As popular as the capital is with British expats given its many offerings, you may find that the cost of living in Stockholm Sweden is higher than what you’re used to in the UK. According to the 2022 Mercer Cost of Living Survey, Stockholm is the 87th most expensive city in the world.

This does not need to be a deal-breaker, as Sweden has numerous other beautiful cities, each with a unique character and benefits as well as a lower cost of living, that appeal to expats. Most people, local and expats alike, live in the south of the country, as the further north you go, the colder and more remote the cities and towns are.

How much does accommodation cost in Sweden?

The price of accommodation is one of the main reasons for the high cost of living in Sweden, especially if you want to live in a city centre. That said, rental and property prices decrease sharply in outer suburbs and smaller towns and villages. All figures taken from Numbeo.com and exchange rates were calculated at 12pm on 7 February 2023.

(All figures taken from Numbeo.com and exchange rates calculated on 8th February 2023 at 11:30am).

Stockholm

Monthly rent for 1 bedroom apartment (city centre)	£1164.32 (14854.97 kr)
Monthly rent for 1 bedroom apartment (outside centre)	£837.68 (10687.50 kr)
Monthly rent for 3 bedroom apartment (city centre)	£1871.57 (23878.31 kr)
Monthly rent for 3 bedroom apartment (outside centre)	£1294.41 (16514.71 kr)
Price per square meter to buy apartment (city centre)	£8814.09 (112454.26 kr)
Price per square meter to buy apartment (outside centre)	£5360.98 (68397.89 kr)

 

Malmø

Monthly rent for 1 bedroom apartment (city centre)	£651.97 (8318.18 kr)
Monthly rent for 1 bedroom apartment (outside centre)	£516.00 (6583.33 kr)
Monthly rent for 3 bedroom apartment (city centre)	£998.62 (12740.91 kr)
Monthly rent for 3 bedroom apartment (outside centre)	£757.67 (9666.67 kr)
Price per square meter to buy apartment (city centre)	£3370.31 (43000.00 kr)
Price per square meter to buy apartment (outside centre)	£2253.41 (28750.00 kr)

 

Gothenburg

Monthly rent for 1 bedroom apartment (city centre)	£868.31 (11078.33 kr)
Monthly rent for 1 bedroom apartment (outside centre)	£621.69 (7931.87 kr)
Monthly rent for 3 bedroom apartment (city centre)	£1247.83 (15920.45 kr)
Monthly rent for 3 bedroom apartment (outside centre)	£859.62 (10967.39 kr)
Price per square meter to buy apartment (city centre)	£4719.71 (60216.27 kr)
Price per square meter to buy apartment (outside centre)	£3045.57 (38856.78 kr)

 

How much does transport cost in Sweden?

Sweden has a superb extensive public transport network, so it’s not necessary to purchase a vehicle if you move there. However, transport can be pricey, which impacts the cost of living in Sweden.

Single bus ticket	£2.74 (35.00 kr)
Monthly public transport ticket	£66.62 (850.00 kr)
Petrol (1 litre)	£1.58 (20.21 kr)
Volkswagen Golf	£19594.83 (250000.00 kr)
Toyota Corolla	£18750.34 (239225.68 kr)

 

The cost of living in Sweden for international students

The cost of living in Sweden for students isn’t as high as it is in many other European countries. If you are a citizen of the EU/EEA, another Nordic country, or, you do not need to pay tuition fees for Bachelor’s or Master’s degrees. PhD courses are free for all international students.

As for other living costs, you should budget for between £630 and £1075 per month. Dormitories at most universities cost between £214.41 and £553.88 per month. If you share an apartment with other students, you can expect to pay between £312.67 and £625.35 per month. Budget approximately £178.67 per month for food, and between £35.73 and £49.13 per month for transport. Other costs to consider when budgeting include approximately £71,47 for books and study materials, between £62.53 and £89.34 for entertainment and social activities, and at least £26.80 for health insurance.

What is the cost of living in Sweden compared to the UK?

In many ways, the cost of living in Sweden vs the UK is noticeably higher, although you will find that you pay similar prices in Sweden to what you would in the UK for some goods and services. The table below offers a good idea of the average cost of living in Sweden.

 

Milk (1 litre)	£1.03 (13.16 kr)
Bread (500g loaf)	£1.94 (24.77 kr)
Eggs (12pk)	£2.58 (32.94 kr)
Water (1.5 litre bottle)	£1.19 (15.12 kr)
Chicken Breast (1kg)	£7.68 (97.96 kr)
Cappuccino (regular, in a restaurant)	£3.12 (39.78 kr)
Beer (500ml, in a restaurant/pub)	£5.49 (70.00 kr)
Cinema ticket	£11.37 (145.00 kr)
Gym membership (monthly)	£28.73 (366.60 kr)
Preschool/Kindergarten (monthly)	£106.06 (1353.19 kr)
Primary School (yearly)	£2202.06 (28094.97 kr)

 

Sign up for a personal account with Moneycorp

Sweden offers exciting opportunities for study, business, and enjoying a different lifestyle in your retirement. Whatever your reasons for moving there, you will need to send money to Sweden securely and conveniently. Manage this by signing up for a personal account with Moneycorp.