Oslo Property Market and Real Estate Guide

(Oslo, Ostlandet, Norway)

Oslo is not only the capital of Norway, but also the largest city in the country, with many choosing to take full advantage of its status as a cultural and economic hub. More than one million people live in and around the area and 25 percent of the population are immigrants, making the local property market a hive of activity for foreign investors.

The property market here was not badly affected by the worldwide recession, as it has very effective monetary and fiscal policies. The city centre is a modern place, while the surrounding regions are natural and beautiful, largely remaining unspoilt by progression and modern times. Prices are high in comparison to other cities and properties are of a high standard, since the country boasts strict building laws, as well as 5,000 km / 3,100 miles of appealing coastline.

There are many green areas and parks in Oslo, and lots of families find the city an attractive place to live with their children. Oslo is shaped like a horseshoe, meaning that access to the forest areas from all points in the city is effortless. Those looking for property away from the hustle and bustle of the city can find a multitude of options.

Renting Serviced Apartments

Oslo is home to plenty of rental options, but many are expensive and highly sought after, meaning that it can take a few months to find a suitable property. Two to three months' rent in advance is the norm for a deposit and it is usual to place the deposit in a joint account with your landlord, which will remain untouched until your lease ends. If damage is caused or rent is owed, it will be taken from the account as per the sums due.

Flats and apartments are the easiest to find, but there are a few municipal dwellings for rent which are usually offered to locals on a low income or those who suffer from medical problems.

Buying Apartments and Houses

Since the 1970s, laws on foreigners buying property in Oslo have been relaxed. The commission for an agent will depend on the sale price, with most agencies demanding between 1.5 and 2.5 percent for properties that cost up to NOK 50 million. As well as this fee, VAT at 24 percent will have to be paid.

Real Estate Agents

The real estate agency sector in Norway is strict and agents must undergo special training in order to work as a professional. The vast majority of property sold in the country is dealt with through an agency and most can be found in Oslo through local directories, as well as on the Internet.

Check out the following Oslo real estate agents:

Address: Drammen Old Route 47, Stabekk, NO-1369, Norway, NO
Tel: +47 06 710 2020
Email: axel@ek.no
Website: www.ek.no
EK has been operating for almost 15 years and specialises in residential property of all types, from small apartments through to large family homes.

Address: Terra-Gruppen AS, Parkveien 61, Oslo, NO-0201, Norway, NO
Tel: +47 02 287 8100
Email: post@terra.no
Website: www.terra.no
Terra is a one-stop company for all house-moving needs, whether renting, selling or buying.

Oslo Eiendomsmegling AS
Address: Hoffsvelen 1A, Skoyen, Oslo, NO-0212, Norway, NO
Tel: +47 02 251 7600
Email: post@osloeiendomsmegling.no
Website: www.osloeiendom.no
Oslo Eiendomsmegling assists people with all aspects of the housing market and offers a healthy portfolio of properties for sale and rent.