Sharp decline registered in mountain cabin sales in Norway

Cabins - cottagesPhoto: Erik Johansen / NTB

Sales of mountain cabins have fallen by almost 40% in the period from January to mid-March, compared with the same period last year.

“There is not as much competition for each individual cabin, and there are not as many people who want to buy a cabin as during corona,” CEO of Eiendom Norge Henning Lauridsen told Norwegian Broadcasting (NRK).

According to the channel, cabins are often sold with only one bidder. 

Lauridsen thinks people may now rather go on holiday abroad and no longer consider a cabin as the only alternative.

“There is a very high probability that prices will flatten out. Most likely, we will not see a fall, but we are unlikely to see any real price development in the near future,” Lauridsen said.

According to Statistics Norway, by October 2021, the number of holiday homes sold in the mountain cabin municipalities had increased by 47% compared to the twelve-month period before the pandemic.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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