Rising housing costs in Oslo mean that sales there have not increased as much as in the rest of the country. Photo: Terje Pedersen/NTB Scanpix
There were 29 percent more new homes sold in August 2016 than in the same month last year as Norway’s housing market reached reached levels not seen in nearly three decades.
The head of the Norwegian Home Builders' Association, Per Jæger, said that the 33,444 new homes sold over the past 12 months marks the “highest sales level since the 1980s”.
Jæger said in a press release that home sales through the first eight months of 2016 have outpaced the same period last year by 14 percent. Sales of flats led the way, increasing by 27 percent.
But the housing rebound has not been felt throughout Norway.
“Oslo continues to be the primary problem in Norway’s housing market. Therefore it is urgent to implement measures to increase housing construction and reduce housing prices in the capital region,” Jæger said.