Strong growth in construction of new homes in Norway registered in January

Bjørvika - Houses - constructionPhoto: Ole Berg-Rusten / NTB
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In January, the number of new home construction projects in Norway increased by 72% compared to the same month last year, according to the figures from the Boligprodusentenes Forening organization.

On Thursday, Boligprodusentenes Forening presented the January figures for the sales and start of construction of new homes. According to the figures, it appears that the start-up of new homes in January is 72% higher than in January of 2021.

The construction of a total of 26,118 new buildings was started in the last twelve-month period, which is 11% higher than in the previous twelve-month period.

Sales of new homes

The figures also show that sales of new homes fell by 1% in January, compared with the same month last year, while sales in the last three months are 17% below the same period last year.

“The year starts with several uncertainties in the new housing market, and we are concerned about how the high material costs, energy prices, interest rate developments, and the upcoming wage settlement will affect the sale and start of construction of new homes in 2022,” Boligprodusentenes Forening leader Per Jæger stated.

“After the record year of 2021, we see that sales of new holiday homes are normalizing,” Jæger stated.

Sales of new holiday homes so far this year are 53% below last year, while the start of construction of new holiday homes so far this year is 2% below 2021 levels.

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

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