Tanzanian Association Oslo

Norway:

Housing prices continue

to rise

The Norwegian housing market continues to surprise experts. Prices on private homes rose by 2.7 per cent in February, well over the normal for the month, and are now up by 7.5 per cent since December.

However, the housing prices are 4.9 per cent lower than in February 2008, and 7.0 per cent lower than the peak in 2007.

But realtors are positively surprised: - We are satisfied with the positive development of the housing market for the third month running. We believe that the public's faith in the future has been strengthened by the cuts in interest rates. We have more showings, receive more offers and the homes are sold more qickly, says Christian Dreyer, head of the Norwegian Realtors Association, to

public broadcaster NRK.

But he warns against thinking that all is now well, and says that there will still be ups and downs in the housing market in the months ahead.

 

Source: Norway Post.