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33178
Marked decline in property transfers
statistikk
2009-02-13T10:00:00.000Z
Construction, housing and property
en
eiendomsoms, Transfer of properties, registered transfers, dwellings, commercial properties, leisure properties, land, purchase price, type of dwellings, ground lease, transfer of title (for example free market sale, compulsory sale, settlement of estate)Property, Construction, housing and property
false

Transfer of properties, Q4 2008, preliminary figures

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Marked decline in property transfers

The number of registered transfers fell by 21 per cent from the fourth quarter of 2007 to the fourth quarter of 2008. The aggregate value of transferred properties fell by 16 billion in the same period.

Price per transfer of built-up dwelling and holiday properties, sold on the free market. 2002-2008*. Quarter. NOK 1 000

Registered transfers of real property. 2000-2008*. 4th quarter

39 900 transfers of real property were registered in the fourth quarter of 2008, a decline of 10 000 properties compared with the corresponding quarter in 2007. There was a decline in all counties.

Decline for all types of properties

Compared with the corresponding quarter the previous year, the number of transfers fell for all types of properties in the fourth quarter of 2008. Dwelling and holiday properties experienced the largest decline with 22 and 20 per cent respectively while industrial properties and commercial/office properties declined by 10 and 11 per cent respectively.

The aggregate value of properties transferred during the fourth quarter of 2008 amounted to NOK 60.1 billion, a decrease of 21 per cent compared with the corresponding quarter in 2007.

Decline in transfers of dwellings and holiday properties

In the fourth quarter of 2008, a total of 17 100 dwellings were sold on the free market. The average price per transfer was NOK 2.4 million. The highest average price per dwelling transfer in the fourth quarter of 2008 was recorded in Oslo with NOK 3.8 million.

A total of 2 300 holiday properties were sold on the free market in the fourth quarter of 2008, representing a 24 per cent decrease from the same quarter last year. The average price per transfer was NOK 1.2 million. Transfers of holiday homes on leased sites are not included in these figures.

What are the statistics about?

The statistics are based on the number and the value of the registered transfers of real property. The composition of sold properties varies over time as regards size, standard and location. Due to this, the change in average price per transfer from one year to another does not reflect the correct price trend for a certain type of property. For instance, a large number of high-standard holiday homes have been built in recent years. Therefore the average purchase price per transferred holiday home has increased more than the price of one single holiday home. The House price index shows the price trend for dwellings.

Date of registration and date of sale

The statistics are based on the date of registration. This date can be several weeks or months later than the date of sale.

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