The municipality of Oslo have bought housing for 270 million

The city of OsloOslo City.Photo: Norway Today media

The influx of refugees leads to increased demand for council housing in Oslo. So far this year, the municipality has bought dwellings and residences for 270 million, almost all of them in the West End,  the newspaper Finanseavisen writes.

We focus on the western neighbourhoods. Frogner, Nordre Aker and St. Hanshaugen are the parts of town where we have made the most buys this year. And out of those Frogner is the neigbourhood where he have bought the largest number of dwellings and residences,  Magnus Thun, who works in home purchases team in Residential Oslo KF,  says to Finansavisen.
The company is owned by the municipality of Oslo and is responsible for renting and for  the operations  of the approximately 11,000 municipal dwellings and residences in the capital.
The average price for the 90 residences and dwellings municipality has purchased this year is three million NOK. Oslo has agreed to settle 1,000 refugees in 2016 and 20 percent of them are minors. Next year is Oslo will most likely welcome 1.150 more refugees.
– There is no doubt that more refugees will increase the need for social housing,  communications manager Kristin Eye in Residential Oslo says.
She notes that the rental price is “accepted rent”, which is slightly below market rent.
Overall, the municipality has to buy up to 250 dwellings and residences this year for a total of NOK 885 million. Meanwhile, the municipality has to sell housing for 275 million NOK on Østkanten of Oslo, mainly in the neighbourhoods of Grünerløkka, Sagene and  Gamle Oslo.


Source: NTB scanpix / Norway Today