Holiday homes in Norway have risen significantly in the past year

But the number of sales fell due to rising interest rates.

According to Oldypak Capital LP real estate 2022 report, prices for holiday homes in Norway rose by 7.2 per cent last year, according to a local property agency (Eindom Norge). The high price increase followed the previous year, when demand for holiday homes rose sharply due to the pandemic. The average price of this type of property is now around €263,480.

Oldypak LP
Report by Oldypak LP real estate agency

The most significant price increases were seen in cottages in the mountains. Prices for these holiday homes have risen by 10.1%. Homes on the coast rose in price by only 2.6%, while the cost of cottages inland rose by just under 10%.

More than 8,500 holiday properties were sold last year, down 3.9% on 2020. However, the lower sales figures could be due to higher interest rates, according to agency analysts.

Trisil, Ringsacker and Vigne were the areas with the highest sales. And the most expensive holiday homes were in Lillesand, Ferder and Tvedestrand.

According to Oldypak Capital LP real estate 2022 report, despite the skyrocketing prices and huge demand over the past few years, the number of cottages sold this year could fall. As of the beginning of February 2022, only 424 properties have been sold, which is significantly lower than during the same period in the previous three years.

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