Traveling at top of the list if young Stockholmers could save money on housing
SSM has studied what young Stockholmers think about their housing. Half of those surveyed would consider living in smaller spaces with lower costs if it meant they could afford to do more in their free time. With the money saved, six out of ten would travel, while only one percent would pay the Swedish public television fee.
A survey conducted by Novus on behalf of residential development company SSM showed that 50 percent of Stockholmers between 20 and 32 would be prepared to live in smaller homes with lower costs in order to have extra money to spend on spare time activities.
If young Stockholmers had more money left after paying for housing, most would travel (59 percent) followed by saving for or paying off mortgage loans (50 percent). This was followed closely by spending on entertainment (48 percent). Shopping came in fourth place (32 percent).
- It is gratifying that young Stockholmers would choose to save for or amortize mortgage loans, especially over short-term investments such as shopping and buying a car, if they were able to save on their housing costs. At SSM, we know that most young people value their leisure time and interests more than living in a large apartment. This is precisely why we are so focused on developing cost- and space-efficient apartments for this specific target group, says Susanne Blomberg, Marketing Director at SSM.
The most unusual things participants said they would do with extra money include paying the Swedish public television fee (1%) and buying a monthly SL (metro) pass so they could stop turnstile jumping (1%).
Top things young Stockholmers would spend extra money on if they could save on housing
1. Travel (59%)
2. Save for/amortize mortgage loan (50%)
3. Entertainment, e.g. eating out, clubs, cafés or pubs/bars (48%)
4. Shopping, e.g. clothes, technology and sports equipment (32%)
5. Culture, e.g. movies, theater, art exhibitions (31%)
6. Interior decorating (22%)
8. Eat better food at home (21%)
9. Health and beauty, e.g. facial, pedicure and massage (16%)
10. Renovate (14%)
11. Work less (12%)
12. Charity (10%)
13. Buy car (10%)
14. Buy summerhouse (10%)
15. Unusual experiences, e.g. hot air balloon, stay at ice hotel, test drive a Ferrari (9%)
The above list is based on young Stockholmers’ (age 20 to 32) responses to the question: “If you lived in a smaller space and had more money left over at the end of the month, what would you do with the money?” Participants were able to choose an unlimited number of alternatives of a total of 24 responses.
About the survey
Novus was commissioned by SSM to carry out the survey. The target group included men and women aged 20 to 40 living in the Stockholm area in single- and multi-person households (with a spouse/partner but without children) with a particular focus on people in the 20 to 32 age bracket. A total of 502 interviews were carried out between June 13 and 23.
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About SSM Holding AB (publ)
SSM is a residential property development company in the Stockholm region. It sets itself apart by building homes for the urbanites of tomorrow and aspires to offer the most popular apartments in urban areas. With a vision to open the housing market to as many as possible, SSM offers cost-efficient homes for singles and couples with the highest functionality built into every square meter, close to the city and public transportation. At the moment SSM has 1481 homes in production. Read more at: www.ssmfastigheter.se.