Norway's booming real estate market

Norway's booming real estate market

Real estate market in Norway is booming, experts say. The country's economy, supported by low unemployment (3%) and an abundance of natural resources, contributes to the housing market. Since 2009 property prices have consistently increased by 27%.

Drammenis a major hot spot of growth in house prices inNorway, said Leif Laugen, Chief Executive of real estate firm Krogsveen. The prices inDrammenare significantly lower than inOsloand other suburbs. "If you sell a two-bedroom apartment inOslo, you can buy a huge house inDrammenfor this money," - said expert.