Fewer Norwegians plan to buy holiday homes abroad

TurkeyKEMER / Turkey.Photo: Håkon Mosvold Larsen / SCANPIX


Norwegians’ interest in buying property abroad have fallen sharply since last fall, according to Prognosesenteret research. Especially in Turkey and Greece this has been affected by uncertainty.

Prognosesenteret measures Norwegian households planning on buying property abroad every six months, and the latest survey shows a dramatic decline, wrote E24.

While in the fall of 2015 there were 60,000 Norwegians with plans to buy holiday homes abroad, there were only 22,000 Norwegians who had the same plans in May of this year.

– These plan figures are very uncertain when we divide them by country, but it seems like Spain and Sweden are “shielded” and a “luxury” part of the market, while countries such as Turkey and Greece are affected by increased uncertainty, says Bjørn-Erik Øye of Prognosesenteret.

He estimates that between 5,000 and 5,500 Norwegians owned Norwegian holiday properties in Turkey in 2014.

The terrorist attacks also caused a fall in package holiday bookings to the resort towns along the Mediterranean, which are traditionally among the most popular charter destinations for Norwegians. The biggest package tour companies have reduced the amount of travel to Turkey between 50 and 70 percent.

According to the Foreign Ministry. Over 400,000 flights occur from Norway to Turkey every year.


Source: NTB scanpix / Norway Today