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Saturday, June 25, 2022

‘Hytte’ prices hit new highs

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) and sales website Finn, found that the most expensive holiday properties were found not along the southern coast known as Sørlandet but in Vestfold County, closer to Oslo.

Those located along the water just outside the former whaling capital of Sandefjord were most expensive, with average prices of NOK 7.2 million (USD 1.3 million). That beat out the island  of Tjøme in Vestfold, which had been most expensive last year.

The average price per square meter for a waterfront hytte was NOK 32,603 , and the survey found that most holiday properties sold for 7 percent over the listed sales price.

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