Friday , October 7 2022

The former director of apartments again believes in the offer of prices in 2020



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According to Baard Schumann, two factors will lead to a new reduction in the price of apartments in 2020.

"I think we will get 2020 home prices in Oslo in 2020. Perhaps more," says Selvaag Baard Schumann, director of housing at Dagens Næringsliv (DN) on Friday.

Therefore, it is far easier than the forecast proposed on Tuesday, where the socio-economic analysis expects the rise in housing prices by just 5.5 percent in Oslo over the next three years.

– Dramatically less homes

Even Schumann points out several factors that the price can make boxing in the capital.

– The way to the interest rate Norges bank is too aggressive. Yes, interest rates are rising, but wage growth will exceed the price increase. This, combined with a small ending, will raise prices, he says.

Schumann estimates that the number of houses completed in 2020 will be too low to meet the high demand.

For DN, he tells us that we will complete "dramatically less homes" by 2020. Despite the fact that Oslo has a large number of regulated houses, only 8,000-9,000 houses can be built over the next few years, Schumann says.

Read also: apartment prices fell in November by 0.6%

– The most dangerous thing I've seen

Chief Economist Jan Ludvig Andreassen has another look. He goes against the rest of analysts by predicting a sharp fall in house prices in the next few years.

At the Norvegian Association of Real Estate conference, he is distinguished by his distinguished title.

"Today's housing market is the most dangerous thing I've seen in my life," said the main businessman of the Eike Group from the stage, according to DN.

Not only does he believe that interest rates will not increase, as opposed to Norges Bank, but Andreassen also points to the population.


PRESENTATION: Chief economist Jan Ludvig Andreassen sets out his forecasts for the housing market.

Terje Pedersen
NTB scanpik

The chief economist points out that the birth rate in Norway, along with the rest of Europe, is falling.

Another thing he did is that Norway is "without Norway" without immigration.

Andreassen, however, has no clear answer to when housing prices will fall, he more concerned about how long lines are expanding.

Read also: Real Estate Norway: Housing prices rose 0.1 percent in September 2018

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