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/en/bank-og-finansmarked/statistikker/orbofba/aar
4595
High increase in loans to real estate businesses
statistikk
2008-11-05T10:00:00.000Z
Banking and financial markets
en
orbofba, Financial corporations, loans and deposits, banks, mortgage companies, finance companies, state lending institutions, borrowers, depositorsFinancial institutions and other financial corporations, Banking and financial markets
false

Financial corporations, loans and deposits, 2007

As from 2016 the statistics is published with Banks and mortgage companies. The next release of annual figures wil be on 17 June 2016.

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High increase in loans to real estate businesses

Total loans from Norwegian banks to industries amounted to about NOK 870 billion at the end of 2007. The real estate business is the largest borrowing industry, accounting for 43 per cent of total bank loans to Norwegian industries.

Over the last 10 years, bank loans to the real estate industry have increased substantially. The industry has nearly quadrupled, due to high activity in the real estate market and strong growth in housing prices the last couple of years.

Of all counties, Vest-Agder has experienced the strongest growth in loans to the real estate industry, from NOK 1.9 billion by the end of 1997 to about NOK 14 billion by the end of 2007. The growth has been strongest the last three years.

Loans to the real estate industry constituted about 59 per cent of all business loans in Vestfold, while the real estate industry only received 22 per cent of the total business loans in Sogn og Fjordane.

Measured in absolute loan figures to the real estate industry, Oslo was on the top, with outstanding loans amounting to NOK 127 billion at the end of 2007. In Finnmark, bank loans to the real estate industry amounted to NOK 2 billion only.

 

Industries which are included in real estate:

Development and sale of real estate, co-operative building societies, buy, sale, and rental of real estate, cooperative housing, estate agency business, and property management. Notice that some industries are not included in real estate industry. Property development for one's own account of a developer or of prefabricated house producers is defined as construction industry. Hiring out holiday cottage, as a part of organized tours, are however included in the group of industries supporting and auxiliary transport activities; activities of travel agencies..

 

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