Rot Deductions in Sweden Rise
Photo: Hasse Holmberg / TT

Rot Deductions in Sweden Rise 18% Amid Increased Subsidy

The great interest in renovation and extension is still strong in Sweden. The number of approved rot deductions increased by 18 percent during the month of July compared to the same month last year.

The number of buyers has increased in relation to last year and it seems that this temporary increase in the subsidy rate has had an effect on the market, says Pia Blank Thörnroos, tax lawyer at the Tax Authority.

Last year, just over 159,000 buyers received an approved rot deduction, according to statistics from the Tax Authority, which the Construction Companies refer to in a press release.

In order to support the construction industry in a tough economic situation, the rot deduction was increased in May this year from 30 to 50 percent of labor costs.

Since then, just over 475,000 buyers have received approved rot deductions during May, June, and July, which is 70,000 more than the corresponding period last year.

The average amount for a rot deduction in July was approximately 11,000 kronor.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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