Jensen keeps mortgage rules strict

Finance Minister Siv Jensen has decided to extend some strict mortgage rules imposed last year on capital requirements and fewer tax breaks for investors. The goal is to keep speculators from driving up real estate prices in an already hot housing market. Analyses from financial authorities and the central bank show that the rules imposed […]

Oslo still expensive in world rankings

The latest survey of the world’s most expensive cities for companies sending employees abroad places Oslo in ninth place, and Stavanger in 12th. Copenhagen was the only other Scandinavian city to hit the list of the 20 most expensive cities in which to live. The survey, compiled by consulting and advisory firm ECA International, calculates […]

Hot housing market still scares experts

Norway’s high and still-rising housing prices have prompted the International Monetary Fund (IMF) to warn Finance Minister Siv Jensen against loosening up the financing rules she tightened less than two years ago. Local economists and even real estate brokers also think capital requirements need to remain strict. An IMF delegation was in Norway this week […]

Housing prices back on the rise

Housing prices have recorded their strongest growth for the month of April in 10 years, rising an average 1.8 percent over March nationwide. Sale price growth was highest in Bergen, up 2.8 percent, followed by Oslo, up 2.4 percent. Prices are up by 8 percent so far this year in Oslo, a level that Christian […]

No rise in interest rates, for now

Norwegians with big mortgages could breathe another sigh of relief on Thursday, after the country‘s central bank board refrained once again from raising interest rates. Rates are still expected to rise later this year, but Norges Bank’s Executive Board decided to keep its key policy rate at 0.50 percent unchanged for now. “The outlook and […]

Housing market starts year with weak prices

Housing prices slid again during the first month of the new year, sliding 2.2 percent in January on a national average. Real estate brokers’ association Eiendom Norge called it the weakest January in 10 years. Sales and prices often pick up after the Christmas holidays, but not this year. Average prices were down, fully 9.4 […]

Rate firm as krone, housing perk up

Norway’s central bank kept its key lending rate unchanged as expected, at its record low level, amidst news that Norway’s housing market is stronger than previously thought. Interest rates aren’t expected to rise until later this year, but the country’s currency is already strengthening. There was a rush of economic news even before the executive […]

Oil and krone fuel thousands of jobs

Norway has suddenly found itself enjoying the economic effects of stronger oil prices and its weaker currency, the krone (crown). Just three years after the Norwegian economy went into crisis mode, when oil prices collapsed, a recent economic paradox is now expected to create thousands of new jobs in 2018 despite another fall in the […]

Housing prices still scare analysts

Housing prices were down another 1.1 percent in November and it hasn’t taken so long to sell a home since the finance crisis in 2008. International credit analysts and economists, however, still think Norwegian housing prices are too high and that a so-called “market correction” will hurt the economy. It now takes an average of […]

New homes designed for divorced couples, students

A socially conscious housing project in Oslo, still under evaluation by local building authorities, aims to help take the financial sting out of divorces and lessen stress on the children. It can also help students buy their own portion of a residential unit, instead of paying high rent with no returns. Real estate development firm […]