EMBASSY, OSLO (Nettavisen): Eiendom Norge is holding its annual conference in Oslo on Tuesday.
– It will be a demanding situation when the new homes that were supposed to be built are not ready in 2026 and 2027, says Henning Lauridsen, CEO of Eiendom Norge.
During a panel discussion on Boligbobla and the status of the housing market, there was of course talk of the announced housing crisis. Real estate leaders Grethe Meier, who is managing director of Privatmegleren og Lauridsen.
Meier says house prices will increase sharply in 2026 and 2027.
– Then again it will pay to build new homes because there is a shortage of them, and that will lead to a yo-yo market which we do not want.
She also points out that rental prices will continue to rise when the homes that were supposed to be completed do not become available.
Eiendom Norge’s conference is Norway’s largest housing conference, and was held in the new conference hall in the old premises of the American embassy in Oslo.
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Dramatic effect
Managing director of the Norwegian Real Estate Association, Carl Geving tells Nettavisen that too few homes have been built over time, which leads to a deficit of homes both for sale and for rent.
– My impression is that it has become more and more common to rent out rooms in one’s own apartment. Then the person who rents out gets part of the costs financed, while the person who rents out gets a roof over their head. There is an image that there are too few homes on the market.
Geving says that since 2019 there has been a particularly sharp drop in the number of secondary homes in Oslo. There are 7,000 fewer homes at the turn of the year this year than there were four years ago.
– At the same time, the need for rental housing has only increased. It’s a dramatic effect already, I’d say.
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– Already see it
Geving says that people often talk about the effects coming in time:
– We have already started to see the effect. Already this year, we have seen price growth that is contrary to the interest rate level in the second-hand market. Prices have grown more than expected despite a stable high interest rate.
This is linked to the fact that too few new homes are being added to the market.
– In recent years, the total turnover of housing has decreased again, but it never goes to zero. There will always be purchasing power in parts of the population, and that is what contributes to putting pressure on housing when the supply side is thin.
Geving says it is recognizable that the effect will be felt in 2026 and 2027, as Lauridsen and Meier said from the stage.
– But I would say that we are already seeing the effect of the low new home sales that have persisted for two years.
Geving says that the demand for housing will trump the supply.
– This means that it will also be more difficult to get a roof over their heads where people want to live. This applies both to buying housing and to renting, for example near work and place of education.
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Lower taxation
From the stage, Meier answered questions about what possible solutions rman has:
– You can, for example, follow other countries and introduce temporary rules to ease the increase in rental prices.
She highlighted less taxation of rental income. Lauridsen believed that increased housing construction was the obvious solution.
– Housing construction has a broken back.
Tags: Eiendom Norge Norwegian Real Estate Agents Association Warns dramatic rental market difficult roof
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