Housing prices rose again, sales brisk

January turned out to be anything but a slow month in Norway’s housing market. Prices rose, and the number of homes sold broke a new record. Numbers released this week by the brokers’ association Eiendom Norge showed prices up an average of 3.6 percent over January of 2018. That was described as “moderate” compared to […]

Housing prices rise in line with salaries

Year-end figures showed that housing prices in Norway rose an average of 2.8 percent in 2018, in line with average wage growth. The figures from the real estate association Eiendom Norge also showed that the total number of homes sold was higher than in the record year of 2015. Brokers think the real estate market […]

Prospects bright for Norway’s economy

Norwegian economists agree that New Year prospects are bright for the country’s economy in 2019. They predict economic growth of 2 percent, low interest rates, lots of activity in the oil and oil service sectors and even a “perfect” real estate market. “Oil investments will shoot up, and that yields positive impulses for the rest […]

Norway to crack down on Airbnb

The Norwegian government is poised to tighten and clarify regulations for short-term rental of residential property, in new legislation sent to Parliament on Friday. The goal is to crack down on what government minister Monica Mæland calls the “pure hotel operations” that have sprung up since online accommodation service Airbnb entered the market. The main […]

Housing prices keep sliding

Norway’s real estate brokers’ organization (Eiendom Norge) reported another price decline in the housing market on Wednesday, with figures showing prices to be down another 1.5 percent on average in November. It was even weaker than normal for the month, but widely viewed as another correction after years of price hikes. The brokers stressed that […]

‘Culture of fear’ prompts new city probe

Oslo’s Labour Party-led government has another problem on its hands, following complaints of a “culture of fear” within the city’s planning and building agency (Plan- og bygningsetaten). The city politician in charge has felt compelled to order an external probe. Hanne Marcussen of the city government said she ordered the probe following “serious claims” that […]

Housing prices are down nationwide

Average prices of both new and used homes fell in Norway last month, another sign that the country’s once-red-hot residential real estate market has cooled off. While many cite a better balance between supply and demand, it’s not good news for builders of all the housing projects now underway. “It seems like there’s been a […]

Oslo blasted over its housing scandal

A new 600-page report by auditing firm Deloitte confirms what can only be described as the City of Oslo’s utter lack of control over a major public housing project. Deloitte has determined that the city paid as much as NOK 115 million too much for residential units in the scandal within its housing agency known […]

State builds more student housing

Norway’s education ministry announced that it will soon break ground for construction of 2,188 new student housing units, to be built in 14 Norwegian cities. The goal is to be able to offer housing to at least 20 percent of the country’s college and university students. “More student housing ensures a reasonable and predictable offer […]

Record home sales, but prices stable

Record numbers of homes were sold in Norway in June, but prices were relatively stable compared to both last year and to the month of May. Housing prices in Oslo, which has long topped price growth lists, seem to have flattened out. “We have unchanged prices when we correct them for seasonal variation,” said Christian […]