Homes keep selling briskly

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Real estate activity in Norway has continued at a brisk pace in the New Year, with most homes selling after just one showing, according to local brokers. Even they’re surprised by the demand and buyers’ willingness to pay the highest prices ever.

“We had 103 open houses nationwide over the weekend and by Tuesday afternoon, 71 of the homes had sold,” Terje Halvorsen, managing director of DNB Eiendom, told newspaper Dagens Næringsliv (DN) on Thursday. “That’s a lot.”

Brokers at other companies also report that sales activity is high, lots of people have come to the showings and the homes sell quickly, even at prices that are averaging 8 percent above last year on a national basis.

The recent decline in interest rates is believed to have fueled interest, with an average of 50 people attending each showing held by DNB Eiendom in Oslo. One apartment that was advertised at NOK 3.3 million ended up selling for NOK 3.75 million.

Halvorsen said that sales were brisk in Bergen as well, “where there are more buyers than sellers.”

newsinenglish.no staff