Sharp rise in Norwegian house prices / News / The Foreigner

Sharp rise in Norwegian house prices. House prices in Norway have increased acutely in the last three months meaning now may be a good time to consider selling. Latest Q1 figures from Statistics Norway (SSB) show a national rise in property prices of 5.1 percent on average. “Norwegian households have a good economic situation following recent high growth in real wages and a relatively modest interest rate. There is also a fast growing population and a relatively low construction rate for new properties,” Thorbjørn Eika, head of business forecasts at the SSB tells The Foreigner.

norwegianpropertyprices, statisticsnorway, priceincreases



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Sharp rise in Norwegian house prices

Published on Thursday, 14th April, 2011 at 13:51 under the news category, by Michael Sandelson   .

House prices in Norway have increased acutely in the last three months meaning now may be a good time to consider selling.

House keys
House keys
Photo: The Truth About/Flickr


Latest Q1 figures from Statistics Norway (SSB) show a national rise in property prices of 5.1 percent on average.

“Norwegian households have a good economic situation following recent high growth in real wages and a relatively modest interest rate. There is also a fast growing population and a relatively low construction rate for new properties,” Thorbjørn Eika, head of business forecasts at the SSB tells The Foreigner.

Stavanger’s have more than doubled in just three months, rising from 5.1 to 10.3 percent, as are price increases for Bergen and Oslo, having risen 5.3 and 5 percent, respectively.

“In the last 2 1/2 years, the highest increases have been in areas associated directly or indirectly with the oil industry. Oslo comes in addition, with the high growth in population being an explanatory factor,” he explains.

Eiendomsmegler 1, one of the larger Norwegian estate agents, says current average prices for one-bedded flats in Stavanger, Oslo, Bergen, Trondheim, and Kristiansand per square metre are 41,000 kroner, 39,800, 37,300, 32,600, and 32,000.



Published on Thursday, 14th April, 2011 at 13:51 under the news category, by Michael Sandelson   .

This post has the following tags: norwegianpropertyprices, statisticsnorway, priceincreases.


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