The price of farms has almost doubled in ten years

FarmsFarms.Photo: Stian Lysberg Solum / NTB scanpix

Nationen newspaper reported that prices of agricultural properties have increased by 93% nation-wide since 2006, and property brokers expect further growth.

 

According to Statistics Norway (SSB), by comparison, the price of detached houses have increased by 53% during the same period. Prices of apartments have increased by 63%.

During the past decade, new rules were made that allowed more agricultural properties to be sold without price controls or residence requirements. The general manager of Gjestvang & Partners, Hans Petter Carlsson, commented on increasing demand and prices.

‘Farms have become popular. People want to move out of urban environments,’ he said.

From the 1st of July this year, price controls for clean forest properties were lifted. From September the 1st,the area boundary for license duty was raised to 35 target forests, from 25 in 2009.

The increase in area limits alone means that around 13,000 more agricultural properties could be sold without the previous restrictions.

‘I think prices for agricultural properties will rise in the future, although house prices in cities will decline. When many properties could be sold without restrictions, there was increased interest’, said Carlsson.

 

© NTB Scanpix / Norway Today

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