Housing prices in and around Norway’s oil capital of Stavanger have more than doubled in the past five years, far outpacing hefty price hikes in Oslo as well, and in most other areas of the country. The high cost of housing is linked to strong demand, limited supply and business development in Stavanger’s home county of Rogaland.
Stavanger, home to state oil company Statoil and a robust offshore industry, has been the site of what some brokers call a «bonanza» that has made its real estate market hotter than any other area in Norway. Housing prices rose 12 percent last year alone, according to EFF, and even the brokers are calling for «more reasonable» price growth in 2012.
Source: http://www.newsinenglish.no/2012/01/03/housing-prices-rise-most-in-stavanger/