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Norwegians buy vacation homes abroad

An increasing number of Norwegians buy houses abroad. Experts predict that it will soon be as common to buy vacation homes abroad as it is within Norway.

Most of the houses Norwegians own abroad are located either in France or Spain, and the total number is now about 50,000 homes, according to the financial paper Finansavisen.

Bjørn-Erik Øye at Prognosesenteret, a market analysing company specializing on real estate, stated that Norwegians will buy an equal number of vacation homes in Norway and abroad during the next couple of years.

“During the 1990s, we had an average of about 1,400 to 1,500 homes in average per year, but now we believe there will be a steep increase to about 4,000 annually,” Øye said.

The housing agent Middelhavs-hus reports that Spain is on its way out and the new locations which will be called for in the future are going to be Greece, Cyprus, and South Africa.

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