Property for Sale in Norway

Location, climate, and economy

Norway is a state in the northern part of Europe, on the Svalbard archipelago, the Scandinavian Peninsula and the nearest islands: Jan Mayen, Bear (in the Arctic Ocean), and Bouvet (in the south Atlantic). The country is a member of NATO, and located in the Schengen zone. The climate is arctic, continental, maritime (in different parts of the country depending on the climatic zone).

The economy is largely based on the gas and oil refining industries, fish processing. Energy needs are covered by hydroelectric power plants. Significant reserves of valuable metals are produced, aluminum, synthetic paints and fertilizers, equipment for oil and gas production, and sea vessels are being built. Forestry is of great importance for the activities of farms (its development is limited due to natural conditions (climate, soil composition).

Norwegian real estate market

In recent years, the market has remained more or less static. According to experts, the demand for real estate in Norway is currently growing, as are prices. At the same time, construction activity is low, housing sales in the country are growing slightly. Foreign investors seek to find offers in the capital - Oslo, there is a constant influx of tourists, migrants come who are ready to make investments or replenish the number of tenants. The cost of real estate in Norway in Oslo is the highest in the country, so it is expensive for an investment, but there are also high rental rates. For renting, it is better to buy objects in large settlements or in resort areas with picturesque views or in ski resorts such as Kongsberg, Trysil, Hemsedal, Geilo, Nurefjell. Feedback from buyers of housing in the residential complexes confirms the compliance of the facilities under construction with building standards.

Average property price in Norway (EUR per sq.m.) by city, country and type:

apartments:

• Oslo - 9,000,
• Viken - 5,800,
• Rugaland - 4,000,
• Inlann - 2,100;

villas:

• Oslo - 7,000,
• Viken - 3,600,
• Rugaland - 2,600,
• Inlann - 2,100;

commercial real estate in the country - 2,000;

land plots in the country - 40.

The cost is affected by two opposing factors that partially offset each other - krone inflation and rising prices in the Norwegian currency. Since the dynamics of price changes is high, you should use up-to-date information.

Property types for sale

The following types are on the market:

• residential (primary, secondary) - apartments, houses, villas, etc.,
• commercial fund (hotels, shops, warehouses, offices, etc.)
• land plots.

Real estate website in Norway

The sale of real estate in Norway is carefully regulated. Nevertheless, for greater security, it is more correct to use the recommendations of experts. The GEOLN.COM website (with a convenient search interface) will help the investors since it contains a real estate catalog in Norway with various objects.

Buying property in Norway by foreigners

In accordance with the law, foreigners have the right to purchase real estate in any region of the country. Residential real estate in Norway is much cheaper in provincial towns. At the same time, they can be located near the sea and combine beautiful natural landscapes with state-of-the-art infrastructure.

Buying a property in Norway means making an expensive but very effective investment that provides a constant rental income, living in a country of high quality of life, in an ecologically clean environment with beautiful natural scenery (if the cold climate is not an obstacle).