Property for sale in Norway

1/ Capital: Oslo

Is the capital and largest city of Norway. It is also a municipality and a county of its own. It is the third-largest Scandinavian city, after Copenhagen and Stockholm, and it forms the third-largest urban area in the region, also after Copenhagen and Stockholm. Get more information on property for sale in Oslo.

2/ Country: Norway

Is a constitutional monarchy in Northern Europe that occupies the western portion of the Scandinavian Peninsula, stretching from its northern extremity to its southern one. The majority of the country shares a border to the southwest with Sweden; its northern region is bordered by Finland to the south and Russia to the east.

3/ Property for sale in Norway

Real property for sale in Norway has a relatively high standard. Technical standards are high in general as strict requirements are set to building standards because of public law claims and climatic conditions in Norway.

Holiday homes in south-eastern and eastern Norway are extremely expensive by European standards, and holiday homes in the mountain areas of eastern Norway near alpine skiing facilities are also expensive.

However, Norway has an extremely long coastline (more than 5,000 km) and those who enjoy nature, fishing and outdoor life may buy relatively reasonably holiday homes in the area between the southernmost point of Norway and the far north. Those who enjoy sea fishing will in particular have many possibilities. There are no limitations on letting property.

In Oslo, the prices of houses and flats are in proportion to the general price level in Norway and the property prices in other European capitals.

More or less the same applies to commercial property, but here prices differ greatly depending on where in Norway the property is located.

Norway’s once hot housing market is rapidly cooling. The rapid increase in oil prices in recent years, and strong economic growth, had helped fuel house price booms in several key cities in Norway. But in Q1 2008, the overall house price index rose by a mere 2.9% from a year earlier. When adjusted for inflation, house prices actually dropped marginally (-0.28%) over the same period.
The price rise in Q1 2008 was a far cry from the 16.7% (15.4% in real terms) y-o-y rise to Q1 2007. House prices had risen strongly from 2004 to 2007; the over-all house price index rose 10% (9.7% in real terms) in 2004, 8.3% (6.6%) in 2005, 13.3% (11%) in 2006 and 12.3% (11.2%) in 2007.