Posted: Tue Oct 31, 2006 8:09 am Post subject: HOUSING IN NORWAY
HOUSING IN NORWAY
Renting Property
Most Norwegians own their homes, and the rental market is therefore very limited in Norway. It is very expensive to buy or to rent accommodation here. Rental prices start from around 4,500 kr just for a small room or studio flat, while prices for whole apartments or houses are much higher than this. However, it is possible to find slightly cheaper properties outside the city centres.
Some estate agencies also deal with rental properties, and private landlords sometimes advertise their properties in newspapers or websites. Alternatively, prospective tenants themselves sometimes advertise in the local or national press for a home to rent.
In Oslo, the evening newspaper Aftenposten Aften has details of rental accommodation in its classifieds section.
Tenancy agreements are normally valid for an initial one year, and subsequently for periods of five years with a termination notice period of three months on the part of the tenant or the landlord. On moving in, a security deposit of two or three months rent is usually payable by the tenant.
Within the cities there are higher levels of renting among Norwegians, and many live in housing co-operatives, in which rental and maintenance costs are shared. Oslo has an active Tenants’ Association which protects the interests of tenants and provides legal services to those entering into tenancy agreements or taking legal action in relation to a tenancy.
Buying Property
Housing is extremely expensive in Norway, and prices are continuing to rise, with an average increase of 10% between 2005 and 2006. Oslo and the other main cities have the highest housing costs, while the rural areas offer more inexpensive accommodation, built to a good standard.
Although prices are high, Norwegian houses are generally built to a very high standard of construction and are well-insulated and heated. A high percentage of the Norwegian live in detached houses, and it can be quite difficult to find simple, inexpensive housing.
Details of properties for sale can be obtained from estate agents, local and regional newspapers and property websites. Some house-hunters also advertise their requirements in the newspaper themselves. Housing loans are available from Norwegian banks.
Estate agents normally charge a percentage of the purchase price as their fee. If an agent is not used when buying a house, the buyer is required to ask an authorised valuer to assess the value of the property. It will be important to check the land registry to ensure that there are no encumbrances on the property you wish to buy, and legal assistance should also be sought to help draw up the sales contract, if an estate agent is not used.
The Norwegian Association of Real Estate Agents has published a booklet in English which provides useful information on the house-buying process.
Gender: Age: 28 Zodiac: Joined: 05 Jun 2008 Posts: 1
Home Country: uk
Posted: Thu Jun 05, 2008 10:56 am Post subject: Norway Housing
In reply to the above message (or below not sure how this works yet!) I'd just like to say that Norwegian Housing is far from expensive if you're coming from England. Rental prices are slightly cheaper than most of England where the average price of an ok 1 bedroom flat is around the 5000 to 6000 kr mark. The only downside to renting in Norway as far as I can see is the size of the deposit which is normally 4 times the monthly rental cost!!
As for buying, Norway is far cheaper than England and the houses are on average a lot nicer with bigger land areas. When you add in to the equation the difference in salaries between England and Norway, the housing becomes even cheaper. I'm starting a new job in Norway in a couple of months and I could get a nice house for 4 times my salary. In my current job in England, I'd have to spend around 6 or 7 times my annual salary to get a house, even then it wouldn't be anything special!
I can't comment on the process of buying a house as I haven't bought one myself yet, but I thought I'd comment so that people don't get too scared off!!! Things in Norway are expensive compared with other countries, but then again the salaries are far higher as well. Swings and roundabouts.
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