In total, 400 first time buyers have expressed interest in the housing cooperative, Tobbs Apartments in Trondheim, in which they can buy without the requirement of 15% equity.
The 400 buyers who have shown interest in the apartments are youngsters, aged between 25 and 35 years, according to Adresseavisen.
Tobbs project, ‘Lillebyleiligheten’, facilitates for first time buyers to enter the housing market.
By initially renting the property for at least three years, customers can buy the apartment without fulfilling the requirement of 15% equity, thus removing a great financial burden on the purchase.
Tobbs have purchased the first block of flats for the project, and established a condominium that will operate the ‘rent-before-own’ model. In all, there are 51 apartments in the first block presently under development.
Source: NTB scanpix / Norway Today