From 2000-04, he would play two seasons each, with moderate individual success, with SC Heerenveen and Aston Villa, respectively, joining Hansa Rostock in 2004-05.
In the summer of 2005, aged 32, Allbäck signed with F.C. Copenhagen. On November 1, 2006, Allbäck scored F.C. Copenhagen's first goal ever in the UEFA Champions League - a winner against two-times competition winners Manchester United F.C.. In that match, he was also awarded the fans' Man of the Match award. 20 days later he also scored against SL Benfica at Estádio da Luz - a match lost 3-1. Allbäck scored again in the last group stage match against Celtic at Parken in a 3-1 win. After the final homegame of the Danish Superliga 2006-07 season, he was presented with the fans' Player of the Year award, as the side emerged back-to-back champions, and the striker netted 11 league goals.
On August 2007, Allbäck scored a late away equalizer against Beitar Jerusalem in the second leg of the second round Champions League qualifier in extra time, to keep Copenhagen's group stage dreams alive, although the side would eventually bow out to Benfica in the next round.
On 1 July 2008, Allbäck returned to Sweden and Örgryte, his third spell at the club.
On June 20, 2006 during the 2006 World Cup, Allbäck helped Sweden earn a 2-2 draw against England by netting their first goal. This goal Allbäck was the 2,000th goal scored in the history of the World Cup. On September 6, he scored twice to help propel Sweden past visitors Liechtenstein 3-1 in the second of their 2008 European Championship qualifying matches.
On June 6, 2007, during Euro 2008 qualifiers, Allbäck scored a highly surreal goal against Iceland when an opponent, Ívar Ingimarsson, gave him the ball incorrectly thinking a free kick had been awarded.
After Sweden's group stage exit from Euro 2008 (in which he played as a second-half substitute against Russia in Innsbruck), Allbäck announced that he would retire from the national team along with Niclas Alexandersson.