An apartment of 55 square meters at Kampen in Oslo was sold for 7.4 million, which was 1.4 million above the asking price.
Less than 10 minutes ago
– Although the apartment is good, we did not expect this, says estate agent Frode Bergheim Koppergård in the Nordvik estate agent chain to E24.
The 55 square meter apartment was located outside Finn with an asking price of 6 million, but ended up at 7.4 million.
The final sale price gives a square meter price of NOK 134,545.
– These apartments are located on a ridge, and you have a view. You have plenty of sun, and it’s one of these old wooden houses at Kampen, says Koppergård.
He says that the only thing that was highlighted as negative among interested parties was the size of the apartment.
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– The parent bank is still standing strong
– This clearly shows that the parent bank is still standing strong, says senior economist Sara Midtgaard at Handelsbanken to E24 when she hears the price the apartment at Kampen went for.
Midtgaard refers to data from the Prognosesenteret which shows that the purchasing capacity of Norwegian households is far above the existing value of the housing stock.
– The older part of the population has, over a long period of time, built up a large amount of housing wealth over several years. Many use this to help young people enter the housing market, and this pushes prices up.
– What will it take for interest rates to start biting?
– The households actually have even more to go on. We still believe that interest rates will start to bite now in the summer or autumn. But so far there has been great resistance. In Oslo, you can also see that first-time buyers and housing investors are helping to push prices up further, says the senior economist.
Popular location
The year of construction is 1890, but the apartment at Kampen was renovated in 2021, according to the advertisement.
– What many people want at Kampen is the charm the area provides. The apartment has been renovated, but the old charm has been preserved. That makes this a special and nice apartment, says Koppergård.
The broker says the buyers at Kampen are often very aware of the area.
– They are often very conscious of where they want to live, says Koppergård.
– Not just sunshine stories
Housing prices rose by 1 per cent in April, which surprised Central Bank Governor Ida Wolden Bache, among others. So far this year, house prices in Norway have risen by 6.8 per cent. Prices are now 0.5 percent higher than a year ago.
Eiendom Norge has linked the upswing to strong development in the Norwegian economy, a good labor market, and the fact that relaxations in the lending regulations have been adopted.
– When was the last time you had a bidding round like this?
– It is a long time ago. I have a number of apartments in different segments where it is quite quiet. In two- and three-room apartments there is a very good response, but there are not only sunny days a day, says Koppergård.
