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Saturday, May 18, 2024

Housing prices jump again

Even in the midst of the Corona crisis, Oslo’s residential real estate market remains as hot as ever. Prices nationwide rose an average 1.1 percent from July to August, and 4.3 percent year-on-year, while some in the capital seem to go through the roof.

They included the NOK 169,000 per square meter paid for a tiny one-room apartment in Oslo. Bidding ended at NOK 2.2 million (USD 250,000) for the 13-square-meters (around 130 square feet) in the city’s popular Majorstuen district.

In another sale that hit headlines, a 90-square meter hytte (holiday home) with no running water and in need of major repair sold for NOK 8.75 million. That was fully NOK 750,000 over appraisal, but its relatively large lot on the island of Bleikøya in the Oslo fjord also attracted lots of interested buyers. The property also boasted its own boat pier.

Oslo’s real estate market remained the hottest in the country, with prices up 6.1 percent over last August, according to the national real estate organization Eiendom Norge. Stavanger, once the hottest because of its large oil industry, landed at the bottom with price growth of 0.4 percent. staff



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