The Co-operative Housing Federation of Norway (Norske Boligbyggelags Landsforbund SA (NBBL) has released its 2nd quarter statistics indicating that housing prices have risen sharply.
NBBL CEO Thor Eek commented upon the new statistics, saying; “Increased interest rates often leads to more households adjusting their consumption and curbing their demand for a major investment such as housing.’ –
LOW UNEMPLOYMENT RATE
“However, if the improvement in the Norwegian economy continues as expected, we believe that the economy can suffer a small interest rate rise,” said Eek.
Since January 1st of 2018, housing prices have risen a total of 4.2%.
According to NBBL, the rise in Norway’s housing prices is due primarily to a healthy Norwegian economy and falling national unemployment rates.
Prices for residential condominium apartments increased by 1.7% in the 2nd quarter of 2018.
Statistics indicate that Oslo housing prices rose by a full 6%. However, NBBL is uncertain whether housing prices increase will continue during the remaining 2018 fiscal quarters.
Co-operative Housing Federation of Norway (NBBL) is a national organization
representing 41 co-operative housing associations. Founded 1946, the NBBL is the 4th largest housing association within Norway.
© NTB scanpix / #Norway Today