OBOS prices continue to rise

OBOSOslo. OBOS.Photo Torstein Bøe / NTB scanpix

OBOS apartments rose 2 per cent in August. So far this year, prices have risen by over 23 percent, according to new figures.

Average square meter for OBOS-related properties in the Oslo area is now 60.475 million NOK.

After inflation of 5.9 percent in July, growth continued also in August by 2 percent. So far this year prices have been increased by 23.2 percent, writes OBOS in a statement.

– Demand is greater than supply. If anyone still wondering if it will work to increase residential volume, so they should take a look at these statistics, says CEO Daniel Kjørberg Siraj.

He says they warn against panicked and short-term immediate measures to choke the supply of credit.

– It can lead to a dangerous sudden slowdown, further reducing the supply of new housing. The authorities must facilitate the construction of more homes. Only thus can the violent inflation slow down, says Siraj.

For the country as a whole, the average price per square meter of used OBOS-affiliated housing was 53.262 NOK in August, 1.9 percent higher than in July and 16.1 percent higher than in August 2015. Since August last year, prices have risen by 20 percent.


Source: NTB scanpix / Norway Today