Experts believe Oslo will see double-digit price growth in the housing market in 2021

Oslo real estatePhoto: Håkon Mosvold Larsen / NTB
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2020 has been the strongest year for housing prices in Norway since 2016. More people in the housing industry now believe in even stronger growth in 2021.

The final estimate will not be available until Eiendom Norge summarizes the housing year on January 6, 2021, but from November 2019 to November 2020, house prices were up by 10.4% in Oslo and 7.8% in the country, according to Finansavisen.

Baard Schumann, the CEO of the real estate company Nordr, believes that priced will continue to rise in 2021.

Insufficient housing construction?

“I think, unfortunately, that we will see a 14% increase in Oslo next year, because no political parties in Oslo really want to contribute to more housing construction. I have said this for the last three to four years,” Schumann told the newspaper.

“I think we will see 11% growth… In addition, we see that centralization continues,” CEO of Privatmegleren Grethe Meier noted.

DNB Eiendom’s CEO Terje Buraas also believes in growth next year.

“We believe price growth in Oslo will amount to 10%. The biggest drivers are low supply and low interest rates, among other things,” he said.

© NTB Scanpix / #Norway Today

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