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
August 7, 2020
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 […]
The noisy downside of waterfront living
July 27, 2020
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’ […]
Labour mayor faces corruption charges
June 24, 2020
Another Norwegian politician is in legal trouble, after the Mayor of Nittedal north of Oslo was charged with serious corruption after several months of a secret investigation. Hilde Thorkildsen of the Labour Party insists, however, that she’s done nothing wrong. Nittedal’s mayor was called in on Tuesday for questioning by Norway’s white collar crime unit […]
Housing sales fell but prices stable
March 30, 2020
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 […]
Housing market keeps cooling off
November 5, 2019
Housing prices have tumbled again on a monthly basis, and are now just 2.4 percent higher than they were at this time last year. It’s also taking longer for homes to sell, leading real estate analysts to believe that the market is cooling down. That’s actually been a political goal, after years of ever-rising prices […]
Oslo set to refund some property tax
August 9, 2019
The City of Oslo, which lost a key portion of a lawsuit filed by more than 1,000 property tax payers, is now poised to refund NOK 388 million to 55,000 of its residents. Officials promise no city services will be cut in return. The Labour Party-led city government in Oslo was simply too quick to […]
Housing prices slid but market still strong
August 6, 2019
Prices for residential property in Norway were down an average 1.1 percent in July, but economists don’t see any negative trend. Prices rose in Oslo, Bergen and in Western Norway as a whole. “We were prepared for weaker residential price development in July,” Marius Gonsholt Hov, senior economist for Handelsbanken Capital Markets, told newspaper Dagens […]
Real estate tycoon honeymoons at 95
July 16, 2019
Norway’s 95-year-old real estate investor and hotel tycoon Olav Thon has been on an albeit short honeymoon this summer, after marrying his long-time sweetheart and former judge Sissel Berdal Haga (age 78). The couple has proven, according to Oslo Mayor Marianne Borgen, that there’s no age limit on love. “If this isn’t the ultimate happiness, […]
Supreme Court hears property tax case
May 28, 2019
A class action lawsuit against Oslo’s property tax system, filed on behalf of 3,400 Oslo residents, made it into the Supreme Court this week. It claims the Labour Party-led Oslo city government’s property tax is illegal because its burden isn’t equally shared. “We hope we win the court’s support for our objection in principle that […]
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