Norwegians spend less of our income on housing than our neighboring countries. On average, 17.6% of household income goes on housing expenses.
Dagens Næringsliv newspaper reported that by comparison, the Danish spend 24.5%, according to a new report submitted by the research firm, Oxford Research, commissioned by the Danish Business Authority Agency.
‘Prices have risen massively, yet a low proportion of Norwegians’ income goes to housing. It is very interesting that it has remained steady’, said economist and housing analyst, Mari O. Mamre, in Ny Analyse.
The report includes information on Norway, Denmark, Sweden, Germany and the Netherlands. It shows that 63% of Norwegian homes are owner-occupier units, while in Denmark and Sweden, the proportions are respectively 50% and 39%.
The square meter price of renting and owning houses is highest in Norway, but high income and low property taxes help to make housing consume a smaller proportion of the total income.
Source: NTB scanpix / Norway Today