The housing market in Norway fell by 35 %

The housing market in Norway fell by 35 %

For the last two months sales in the primary housing market of Norway fell immediately by 35% compared with the same period in 2012, according to ee24.com citing opp-connect.com.

According to data of Samfunnsøkonomisk analyse, in Eastern Norway (including Oslo) , where the majority of the population lives, sales fell by 35%, and in the West Norway (including the city of Bergen ) sales fell by 36%.

This year, the hopes for high autumn sales did not come true: only 883 new houses were sold, while 1386 were built.

Potential buyers are concerned about too high prices: in the past 12 months they increased by 8.2%, reaching €46 thousand krones (€5,690) per sq.m. The biggest average price of housing in Norway is in the central and western Oslo - 70.3 thousand krones (about €8,700) per sq.m.