Authority wants to limit borrowing

Norway’s financial authority (Finanstilsynet) wants to tighten lending requirements, part of an effort to curb the country’s ever-rising debt levels. It’s proposing a lower limit on how much private individuals can borrow, and tightening lenders’ latitude for making exceptions. With interest rates historically low, based on the central bank’s key policy rate of 0.0 percent, it’s […]

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 […]

Oslo still leads housing price increase

Housing prices rose higher last month than they have for many years, as Norway’s booming real estate market extended even into the usually slow summer holiday season. The Corona crisis still hasn’t lowered prices either, and they’re highest of all in the nation’s capital. Prices averaged NOK 78,433 (USD 8,700) per square meter in Oslo […]

Rental rates soar in Oslo

Residential rental rates continue to climb in Oslo, to a point that it’s increasingly difficult for renters lacking much capital to come up with the deposits required.  A new survey conducted by an online platform for rentals, Husleie.no, showed that half of renters polled said it was “difficult” to meet deposit requirements, while fully 27 […]

The noisy downside of waterfront living

More conflicts have erupted in Oslo this summer between those who’ve paid a fortune for new homes on the fjord and members of the general public, who have a right to waterfront access. That right is often exercised in the form of noisy outdoor summer parties that extend long into night, and right outside homeowners’ […]

Housing prices expected to soar

A Norwegian researcher specializing in the housing market thinks Norway may see the strongest price growth since 2017. It’s already been holding up well during the Corona crisis and demand is now predicted to outpace supply. Homebuilding came to an abrupt halt when the crisis first hit Norway last winter, and closed borders disrupted the […]

Corona failed to hit housing prices

There was no sign of Corona gloom and doom when Norway’s national real estate federation released monthly housing sales statistics on Wednesday. Average prices were actually higher than April last year, but it did take longer to sell. Sales tempo “was a bit weaker than a normal April,” said the chief executive of Eiendom Norge, […]

Housing sales fell but prices stable

Residential real estate activity declined sharply in the week following the government’s imposition of Corona containment measures. Numbers released last week show a 36 percent decline in sales, to 1,190, compared to the same week last year. There was also a 9 percent decline in the number of homes put up for sale. Prices seemed […]

Residential high-rise evacuated

More than 90 residents of a high-rise residence in Oslo, in which they shared bathroom and laundry room facilities, were evacuated on Sunday after one resident tested positive for the Corona virus. Nearly all residents of the apartment building in the Teisen district of Oslo were moved to a hotel in the downtown area. The […]

Household debt continues to rise

Norway’s financial authority (Finanstilsynet) is worried about new figures showing how Norwegians’ household debt remains high and keeps rising. The most vulnerable are both young first-time home buyers with large mortgages and senior citizens who’ve borrowed against their equity. The annual figures released by the regulators now show total debt as a portion of gross […]