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Wednesday, May 25, 2022

Sandnes ranks as wealthiest

The west coast city of Sandnes, just south of Stavanger, has emerged as Norway’s wealthiest city based on average household earnings, according to new figures from state statistics bureau SSB (Statististics Norway).

SSB reported that 41 percent of the households in Stavanger could claim after-tax income of more than NOK 550,000 (around USD 100,000 at current exchange rates). That’s two full percentage points higher than Stavanger, known as an affluent base for Norway’s oil industry.

In the Norwegian capital of Oslo, by comparison, 27 percent of households had such income, while 30 percent of households in Trondheim and 32 percent in Bergen could report the same.

Income growth has been high in the entire district of Nord-Jæren, reports Norwegian Broadcasting (NRK). Today several neighborhoods in Stavanger can boast higher household income than the most traditionally fashionable neighborhoods of west Oslo including Frogner. Home prices in the Eiganes district of Stavanger, for example, have quadrupled in recent years. Most of the newfound wealth is linked to the oil and gas industry.

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