Huseierne: Norwegian homeowners need to prepare for rising housing-related costs

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Huseierne: Norwegian homeowners need to prepare for rising housing-related costs

More expensive electricity is only the beginning of rising housing costs in the future, according to the organization Huseierne. The organization is now asking homeowners to prepare for tighter economic times.

Earlier in October, the organization presented a forecast that shows that housing costs will rise by around 30% in the next few years, Norwegian Broadcasting (NRK) reports.

“The mortgage rate is the big expense for many. It is going up and will probably be higher than it is today. We will also get higher electricity prices. We have already noticed it this autumn,” communications manager Carsten Phil at Huseierne stated.

More expensive insurance, increased municipal expenses, and greater maintenance expenses due to a wetter climate will also contribute to increased housing costs.

Consumer economist Derya Incedursun at Nordea is also concerned and believes that low-wage occupations and families with young children will notice the increase the most.

She advises homeowners to renegotiate agreements with banks, insurance companies, and electricity suppliers, and to review their own consumption, while Phil asks politicians to be aware of the consequences of increasing municipal taxes.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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