New report: Weaker housing price growth expected in Norway in the next few years

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New report: Weaker housing price growth expected in Norway in the next few years

On a national basis, house prices will rise 6.9% between 2022 and 2024, according to a report from Samfunnsøkonomisk analyse.

That is far weaker than the growth in the previous period, according to the newspaper Dagens Næringsliv.

The analysis company expects annual growth for 2021 to amount to 10.3% on a national basis.

Oslo prices are expected to rise by 8.8% between 2022 and 2024, followed by prices in Viken (7.7%). The lowest growth is expected in Troms og Finnmark, with 3.5%.

Carl Geving, CEO of the Norwegian Real Estate Association, told the newspaper Avisa Oslos that a weaker price development is something they consider good.

He is concerned about low-income households, which are having difficulties entering the housing market. Geving is calling for the construction of more small apartments.

“The answer is to build more varied housing – good homes with a size that allows more people to afford to buy them. In addition, we must look at alternative forms of housing and solutions with collective elements,” he said.

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

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