Transfer of properties, Q4 2003, preliminary figures

The transfer of real property had a slow start in 2003, as there was a decrease in the number of transfers in both the first and the second quarter compared with the corresponding period in 2002. This trend turned in the third quarter, and in the fourth quarter 8.4 per cent more transfers were registered than in the fourth quarter of 2002.

Comparing the value of the transferred properties with the corresponding quarter in the year before, we find almost no change in the first quarter, then a decrease of more than 8 per cent in the second quarter before the value rises 3 per cent in the third quarter and more than 15 per cent in the fourth quarter. The total value of the transferred properties amounted to NOK 149.2 billion in 2003. This is 3 per cent more than in 2002. Leaving the inflation out of account, it gives a 70 per cent higher value than five years ago.

Decrease in transfer of properties for business purposes

70 per cent of the transferred properties are properties for dwelling purposes. Holiday properties constitute 16 per cent of the transfers. The rest of the properties are for different business purposes.

The number of built-up dwelling properties increased by 4 per cent in 2003, while the number of dwelling sites decreased by 5 per cent. The transfer of holiday properties showed no significant change last year.

The transfer of properties for various business purposes declined in 2003. The number of transferred commercial/office properties decreased by 8 per cent, industrial properties decreased by 5 per cent and agricultural/forestry/fishery properties decreased by 2 per cent compared with 2002.

The average price per transfer of dwellings up

The average price per transfer of built-up dwelling properties sold voluntarily in 2003 was NOK 1 501 000. This is 1.7 per cent more than in 2002. In the fourth quarter of 2003 the average price was NOK 1 532 000, which is 2.3 per cent more than in the fourth quarter of 2002.

Higher prices on holiday properties in the fourth quarter

The average price per transfer of holiday homes sold voluntarily in 2003 was NOK 644 000. This is about the same as in 2002. Comparing the fourth quarter in those two years, however, there is a considerable difference. In the fourth quarter of 2003 the price was in average NOK 668 000 per built-up holiday property, and this is NOK 60 000, or 9.9 per cent, more than in the fourth quarter of 2002. Low interest level on loans in the end of 2003 is a possible explanation to the higher demand for holiday properties. Together in the third and fourth quarter of 2003, 362 more holiday homes were sold than in the corresponding period in 2002.

Tables:

• Table 1 Notified transfers of real property, by county. 2000-2003*
• Table 2 Notified transfers of real property, by quarter. 1997-2003*
• Table 3 Notified transfers of real property, by type of property. 2000-2003*
• Table 4 Notified transfers of real property, by type of transfer and type of property. 2003*
• Table 5 Transfer of dwelling properties with building, voluntary sale, by purchase price, quarter and county. 1998-2003*
• Table 6 Transfer of dwelling properties with building, voluntary sale, by type of dwelling, quarter and county. 1998-2003*
• Table 7 Transfer of holiday properties with building, voluntary sale, by purchase price, quarte and county. 1998-2003*