Hot housing market starts to cool down

Real estate brokers in Norway say they’re seeing clear signs that the country’s overheated housing market of the past few years is finally starting to cool down. Buyers are more cautious and price growth, especially in Oslo, flattened out in March. Norway’s national real estate organization Eiendom Norge released new housing price statistics on Wednesday that showed […]

Mayor targeted in property tax revolt

The Labour Party’s mayor in Norway’s northern city of Bodø, Ida Pinnerød, is the target of so much anger over high local property tax bills that she went along with a stunt to let residents throw cakes at her during a handball match. The stunt was cancelled this week, however, after even more negative reaction from the public. […]

Labour avoids its own property tax

The Norwegian Labour Party has found a way to avoid paying the property tax that the Labour-led Oslo city government has imposed on all other owners of property in Oslo worth more than NOK 4 million. Labour’s headquarters building in the Norwegian capital is under historic preservation orders, and Labour leaders in Oslo proposed and passed a measure in December […]

Court to rule on Oslo’s property tax

Oslo’s city government leaders from the Labour Party will now need to defend their new controversial property tax in court. They were sued over the questionable legality of the new tax, and officials of the Oslo City Court decided Monday that the case deserves to go to trial. The court’s decision is a preliminary victory for Norway’s national organization […]

Property tax revolt starts to spread

It’s not just Oslo’s city government that’s been sending out shockingly high property tax bills recently. Many Norwegians living in small communities from north to south have also been hit with notices of much higher property assessments and taxes, and they’re venting their anger against the politicians behind them. In Målselv in Troms County, for example, residents are mounting a […]

Property tax bills skyrocket in Oslo

Tens of thousands of Oslo residents have been finding some shocking notices in both their electronic and conventional mailboxes during the past few days. The new property tax imposed by the Labour Party when it won control over the Oslo city government in 2015 has doubled or even tripled for many homeowners, and all indications are […]

Oslo home prices due to rise again

It’s official: Average residential real estate prices in Oslo rose 22 percent in 2016 and fewer housing units are currently for sale than ever before. That means the prices of homes in the Norwegian capital are likely to rise even higher in 2017, and some claim city government officials have contributed to a growing affordability problem. As real […]

Finance minister tackles high debt

Worried about both rising debt levels and sky-high housing prices, Finance Minister Siv Jensen has rolled out a package of measures to make it harder to qualify for mortgages, especially in the Oslo area. She’s especially cracking down on investors and speculators in the housing market who are accused of driving up prices. “High debt makes […]

Airbnb faces more political opposition

Oslo should do what Barcelona and several other European cities have done: Crack down on the extent of downtown rentals via Airbnb, claims top Labour Party politician Jan Bøhler. The online services allows travelers to rent rooms or entire apartments as an alternative to hotels. “It’s a big problem when as many as 40 percent […]

Building boom may lower housing prices

There were signs of it already, when Norway’s national real estate association revealed its latest batch of sales statistics on Monday: Even though housing prices rose again in Oslo and Akershus, they fell in many areas of the country last month. State statistics bureau SSB thinks the latter trend will start to set in, and that […]