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FALLING: OBOS Housing Prices

OBOS OBOS.Photo: Gorm Kallestad / NTB scanpix

Norwegian real estate developer ‘Oslo Housing and Savings Society’ (OBOS: Oslo Bolig og Sparelag) has released its latest housing price indicators for June, with Oslo seeing a 1.6% reduction in housing costs and all of Norway enjoying a .8% housing price reduction since May, 2018.

 

May, 2018 saw the sharpest rise in OBOS previously occupied housing prices in many years. According to the OBOS latest statistics; June, 2018 saw housing prices drop slightly; with 875 total previously occupied OBOS homes sold.

STRONG SUMMER SALES
OBOS gave comment upon the newest indicators, saying; “After surprisingly sharp jump in housing prices in May, it’s natural to see corrections the following month.’ –

“The latest sales figures illustrate that housing demand is strong during Norway’s summer vacation period.” – stated OBOS.

Previously occupied homes within the Oslo area saw prices fall 1.6% from May’s statistics.Compared with June of 2017, previously occupied OBOS prices are 1.8%
lower,with June, 2018 average square meter price @ NOK 61,043 (USD $7,466).

NATIONAL PRICES
Across all of Norway, June, 2018 OBOS prices are .8% lower than May, 2018’s figures and an entire 1.0% lower than June, 2017.

Within Norway, the average square meter price for OBOS previously occupied residential dwellings posted @ NOK 53,788.

2018 has seen overall Oslo OBOS housing rising 8.9% in value, but prices fell 1.8%
since May.

For the entire country, prices for used OBOS homes has increased by 8.7% in 2018, but prices fell .8% since May.

‘Oslo Housing and Savings Society’ (OBOS: Oslo Bolig og Sparelag) is the largest Nordic cooperative building association in Norway. Founded in 1929, OBOS is owned by its 400,000 + members; found mostly within the Oslo metropolitan area.

At post: NOK 8.17 = USD $1.00

 

© NTB scanpix / #Norway Today

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