Landowners sue state
June 18, 2012
Three landowners in Norway are suing the Norwegian state, claiming compensation for losses they incurred after being prohibited from raising annual rental rates on plots leased out on long-term contracts. The European Court of Human Rights in Strasbourg recently ruled that a Norwegian law preventing landowners from changing the terms of the long-term contracts “breached [...]
Lease-holders now on shaky ground
June 13, 2012
UPDATED: As many as 350,000 Norwegians suddenly face much higher property costs, after a ruling this week by the European Court of Human Rights in Strasbourg. It resulted in a resounding victory for Norwegian landowners, who now can change the terms of long-term land-lease contracts when they come up for renewal. Norwegian officials seem poised [...]
Conservatives reject Labour’s call for a housing minister
March 27, 2012
Norway’s Conservative Party (Høyre) rejects a call from Norway’s Labour-led government coalition for creation of a new ministry in charge of housing. Labour thinks housing politics need more attention, not least to address affordability issues. Norway needs at least 30,000 new residential units every year to meet housing demand, according to new studies. Newspaper Aftenposten [...]
British couple blasts Norwegian laws
January 27, 2012
A British couple’s dream of buying a farm in the Norwegian mountains turned into a nightmare, and now they’re blasting Norway’s strict agricultural real estate regulations and comparing them to those in Zimbabwe. Paul and Andrea Hodgkinson have launched a media campaign back home in England and appealed to, among others, Prime Minister Jens Stoltenberg,Crown [...]
Housing prices rise most in Stavanger
January 3, 2012
Housing prices in and around Norway’s oil capital of Stavanger have more than doubled in the past five years, far outpacing hefty price hikes in Oslo as well, and in most other areas of the country. The high cost of housing is linked to strong demand, limited supply and business development in Stavanger’s home county [...]
Housing prices up 9.3 percent
November 3, 2011
Despite a small month-to-month dip in October, average residential real estate prices rose by 9.3 percent over the same month last year, according to statistics released this week by the national real estate brokers’ organization. The dip, of 0.6 percent, appeared after removing what the brokers called “seasonal variations.” Otherwise, average sales of apartments and [...]
Brokers jet off to LA after another good year
November 1, 2011
Norway’s still-booming real estate market has been lucrative for local real estate brokers, who’ve been pocketing hefty commission income on sales at record-high prices. Now one firm is rewarding its top performers with a luxurious trip to Los Angeles. The firm, Privatmegleren, which deals mostly in high-end properties, logged enough profits during the past year [...]
Tougher home finance rules loom
October 19, 2011
The government and Norwegian Parliament look inclined to go along with proposed, tougher regulations on how banks can lend money to homebuyers. Equity requirements may be raised, despite objections by lenders and major housing associations. Norwegian financial authorities at the state regulatory agency Finanstilsynet think bank employees currently have too much freedom when approving home [...]
‘Hytte life’ not what it used to be
October 4, 2011
Thousands of Norwegians are spending this week of annual høstferie (autumn school holidays) at their cabins (hytter) in the mountains, but many are no longer roughing it. Researchers claim Norwegians have lost their penchant for the simple life and now want all the comforts of home. It wasn’t very long ago that Norwegians headed for [...]
Bad weather hits high hytte prices
October 4, 2011
Two unusually cold winters in a row, a late Easter this year and heavy rains this summer have put a damper on sales of holiday cabins and homes known as “hytter,” reports newspaper Dagens Næringsliv (DN). The highest-priced hytter are also being hit by turbulence in the finance markets. “It’s terrible to say it, but [...]
Norwegians’ most-hated taxes
July 14, 2011
Heavy taxes tied to their homes and their cars have emerged as the most hated by a majority of Norwegians, according to a new study by a national taxpayers’ organization (Norsk Skattebetalerforening). So intense is the criticism that even some of the country’s most socialist-oriented politicians are considering reform. Norwegian Broadcasting (NRK) led its morning [...]
Oil fund takes the plunge in Paris
July 6, 2011
Norwegian newspapers were full of stories on Wednesday detailing how every Norwegian will soon own a little piece of property on the Champs-Élysées. That’s in addition to some other high-end property on Regent Street in London, all courtesy of the fortunes built up in what’s widely known as Norway’s oil fund. The fund, officially known [...]
Oslo’s developing waterfront, in a photo collage
June 23, 2011
Oslo has been undergoing massive waterfront redevelopment for years, and for better or worse. Some argue the city is being walled in with large and expensive high-rise office and apartment buildings, while others argue the replacement of old industrial areas with commercial and residential projects is providing better access to the fjord. Debate continues to [...]
‘Hytte’ prices hit new highs
June 17, 2011
The average price of a holiday home (hytte) along the Norwegian coast has jumped 18 percent since last year, reports a survey by TNS Gallup, hitting a new high of NOK 2.5 million (nearly USD 500,000 after sales fees are paid). The Gallup survey, conducted for the national real estate brokers association EFF (Eiendomsmeglerforetakenes Forening) [...]
Big jump in housing starts
June 7, 2011
The tempo of residential construction projects keeps rising in Norway, fueled by low interest rates and strong demand for new housing units. State statistics bureau SSB (Statistics Norway) confirmed the building boom in new figures released this week. SSB said that housing starts jumped 40 percent during the first quarter of this year, compared with [...]
