The housing market in Norway has been very active and experienced price growth in recent years, especially in Oslo. A recent report from the National Center for Housing Market Research at OsloMet has summarized the housing market in Norway as follows:

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House prices were 1.7 percent higher at the end of 2022 compared to the end of 2021.

The average home cost 4,400,000 (51,200 per square meter) in 2022, an increase of 4.9 percent from 2021.

Kristiansand had the highest price increase of 5.0 percent, while prices in Follo fell by 1.7 percent.

Oslo had the highest prices at NOK 89,100 per square meter.

The proportion of homes available for ordinary incomes fell from 30.8 percent in 2021 to 27.7 percent in 2022.

The number of second-hand homes that were put up for sale was at the same level as in previous years, while the number of planned homes that were put up for sale fell markedly.

Demand for housing was high in the first half of the year, but lower than the supply in the second half of the year.

Rental prices rose by 5.4 percent in the big cities (Oslo, Bergen, Trondheim, and Stavanger) for newly signed leases.

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According to Handelsbanken's recently published forecast, there will be large regional differences in housing price developments going forward, and interest rate increases will probably lead to a new bottom in the housing market before prices rise again. Handelsbanken's chief economist also believes that there will be a shortage of housing in Oslo for many years to come, which will contribute to continued price pressure and an increase in housing prices in the future. We have seen similar forecasts in the market, published by Prognosesenteret, Norges Bank, SEB, and other banks.

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We, therefore, expect increased demand for our rent-to-own solutions and hope to be of service to many in the future.

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