Norway's Real Estate Prices Since 1841

Real Estate | Norway | July 29, 2014
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The average price of dwelling has increased 823-fold in Norway since 1841, according to the data provided by the Central Bank. While average dwelling amounted to NOK 38 per square metre in 1841, you would have to pay over NOK 31,000 at the end of 2013. 

However impressive the growth seems, the average annual increase accounts for 4% only for the last 172 years. When looking at the last 50 years, there are two interesting 20-year long cycles to mention - in 1967-1987 (when the average annual growth reached 11.7%) and in 1992-2012 (8.8%).

Even more interestingly, however, the price difference between the capital city and the country average has been declining. While average dwelling in Oslo was three times the country average 150 years ago (and still two times 100 years ago), you would have to pay only a 50% premium now.

For more details on residential real estate prices, visit www.helgilibrary.com/indicators/index/house-price-nationwide-average-usd