Sweden's Prime Minister Stefan Lofven will step down in November so that his successor can prepare for the next general election in September 2022.

On Sunday, he announced his plans to "leave my position as party chairman at the party's congress in November and thereafter also resign as prime minister."

"In next year's election campaign, the Social Democrats will be led by someone else than me," he added. "Everything has an end and I want to give my successor the very best conditions."

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The Social Democratic party leader was re-elected as prime minister in July after he stepped down at the end of June following defeat in a historic no-confidence vote. 

The original vote of no-confidence happened after an alliance between the far-right Social Democrats and the Left Party, and criticism over his plans to ease rent control on newly constructed buildings.

After the vote passed, Lofven had the option to resign or call a snap election. After seven years in charge of the country he chose to resign, making him the first Swedish prime minister to do so after a no-confidence vote.

After he was re-elected as prime minister by parliament, he said that he would resign again in the autumn if he was unable to pass a budget.