The housing industry believes a record number of first-time buyers will buy a home in Norway in 2022

Last year, a total of 54,175 first-time buyers bought homes in Norway. This year, there will probably be more first-time buyers.

“This shows that ordinary people are actually entering the housing market despite high prices,” Carl O. Geving told the newspaper E24.

He believes housing policy should focus on a specific group of people.

“We don’t talk enough about those with low incomes, who live in the cities with the highest square meter prices, and who could manage a loan if housing prices were lower,” Geving said.

Immigrants and children of immigrants are overrepresented among low-income households and underrepresented among homeowners.

Geving: More smaller apartments needed

“Waiters, bartenders, and hotel employees, these are examples of people who are struggling to establish themselves in the housing market.” 

The solution is to allow the construction of more smaller apartments, Geving noted.

“An ordinary two- or three-bedroom apartment is far too expensive for young people who want to buy a home alone. And one can not expect people who work in central Oslo to settle in Drammen and Lillestrøm. You have to build (housing) for those with low incomes as well,” he said.

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

Do you have a news tip for Norway Today? We want to hear it. Get in touch at [email protected]