Number of unsold homes in Oslo increases by 50%

House homesHouse. Photo. Pixabay

Number of unsold homes in Oslo increases by 50%

Last year, there were 1,400 homes for sale in Oslo, a figure that’s risen to approximately 2,200 in 2017. This makes the struggle to sell greater than before.

‘The market’s returned to normal levels,’ says Christian Dreyer, CEO of Eiendom Norge, to NRK news.

He believes that housing prices in May will remain levelled out.

Throughout the whole of last year, there were abnormally few homes for sale in Oslo, and housing prices in the capital increased by more than 23%. Now the number of homes for sale has returned to the levels seen between 2012 and 2014.

Dreyer thinks that many sellers feel that it’s brutal struggling to get sold in a market that was boiling just a few, short months ago, though he currently doesn’t see any signs of a downturn.

Growth in sales of homes

‘While there are more unsold homes now than there were last year, more homes are also being sold than there were last year,’ says Dreyer, who added that May, and no less, June, are customarily quite weak residential sales months.

In a week, Eiendom Norge will present May’s home sales figures nationally. There is a lot of excitement over the Oslo market, where many have predicted a fall in house prices.


© NTB Scanpix / Norway Today