The two-storey penthouse apartment, on Linnégatan in Stockholm’s fancy Östermalm district, is being advertised for 83 million kronor ($9.6m, €8.8m, £6.3m) – believed to be the highest asking price ever.
It will be spread over an enormous 491 square metres (5285 sq feet), with terraces measuring 245 square metres. It has an orangery and a lift between its two floors.
“There are no official statistics for apartments, but I’ve never heard of an apartment with a higher asking price. There aren’t that many large apartments in Stockholm,” said estate agent Siv Kraft.
Building on the apartment starts next month, and the buyer will have a significant influence over the interior.
According to Kraft, many of Stockholm’s most expensive homes are bought by Swedes returning home after a spell abroad.
“They’ve been spoiled by higher standards than you usually find at home in Sweden. On the continent, many high-end apartments have a bathroom for every bedroom and they want it to be like that here too.
An artist's impression of the apartment's orangery.
Other potential buyers include “families with old money and successful young people. The sort of people who might have considered buying a big house, but who want to be in the city.”
The new apartment could be 25 million kronor more expensive than Sweden’s previous most costly flat. An apartment on nearby Narvavägen was advertised in Stockholm last year for 58 million kronor, a price that was thought at the time to be the highest ever.
The square metre price of the new apartment, which is scheduled to be ready by September 2016, works out at 162,000 kronor per square metre ($18,700, €17,294, £12,435). It will be built on the roof of an existing residential building.
“I actually don’t think it’s that expensive per square metre. There are other apartments that are more expensive per square metre. It’s not such a high price for something of that standard in that location, and with the terraces and a garage,” said Siv Kraft.
“It’s an apartment, but feels like a house. And you’re just a stone’s throw from Djurgårdsbron, where you can keep your boat,” Kraft added.
In one respect the flat is a bargain. The monthly service charge of just over 3,000 kronor – which includes electricity – is lower than many much smaller flats.
The apartment, if it fetches its asking price, will be more expensive than the most expensive apartment in Berlin, which sold for €5.7 million (52 m kronor, $6m, £4m) last year. However, it looks like a bargain next to One Hyde Park in London, where a flat sold for a reported £140 million last May.
The Stockholm housing market has never been hotter, with prices in Sweden’s capital rising 14-16 percent in the past year. Average prices in central Stockholm stood at 81,662 kronor per square metre in March.