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Fewer Norwegians are buying homes together

Photo: Håkon Mosvold Larsen / NTB

The proportion of people in Norway who buy homes together with others decreased in 2021.

A recent report from the Norwegian Real Estate Association, Ambita, and Samfunnsøkonomisk analyze, shows that the proportion of people who buy homes together is declining, especially in Oslo, the newspaper Dagens Næringsliv (DN) writes.

“This is good news because it is a consequence of weaker price growth, which makes the housing market a little more accessible for single-person households,” Carl O. Geving of the Norwegian Real Estate Association told the newspaper.

The national average for first-time buyers who buy a home with others is now 59%. The proportion is highest in cities with high house prices, such as Oslo, with 62%, and relatively low in cities with somewhat lower house prices, such as Stavanger, with 48%.

The proportion of those who buy homes with others has fallen somewhat in the last ten years. Ten years ago, 65% of first-time buyers bought a home with others.

According to the report, the decline is probably due to low and falling interest rates, high income growth, and more people receiving help from parents, who have also had increasingly better finances. Over time, more people have been able to afford to buy a home alone.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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