Housing prices rise again

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Norwegian real estate brokers could report another rise in housing prices, up 1.5 percent on average from March to April.

The brokers’ national association (Norges Eiendomsmeglersforbund) reported Monday that the prices of single-family homes rose the most. Average sales prices in April for both single-family homes and condominiums (leiligheter) were up 6 percent over April 2009.

The higher prices were linked to “strong purchasing power” and low interest rates over a prolonged period in Norway.

The average price nationwide was NOK 28,000 per square meter, and NOK 36,000 in Oslo, where prices tend to be highest. Prices rose the most in Larvik, Stavanger, Asker and Trondheim. 

A total of 4,498 homes were sold in Norway in April and their average time on the market was 31 days, compared to 43 days in April last year. In Oslo, it took about 20 days to sell a home, compared to 79 days in Tromsø.

Views and News staff