More Norwegians own their homes

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Despite the sharp rise in housing prices in recent years, increasing numbers of young Norwegians own their own homes, albeit with a large mortgage. Overall mortgage debt in Norway, however, has sunk, according to new figures from state statistics bureau SSB (Statistics Norway).

SSB’s standard of living survey for 2015 shows that Norwegians’ housing standards have steadily improved, while mortgage debt has risen. Norwegians’ mortgage debt, however, has not increased over the past three years as much as it has in earlier periods.

A total of 84 percent of the population in Norway that’s over the age of 16 lives in a home that’s owner-occupied. That up 2 percent since 1997.

The most stable growth in the portion of the population that owns its own home is in the age group 25 to 44. As owner-occupants, that portion has risen from 76 percent in 1997 to 81 percent in 2015. staff