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Norwegians think housing prices will rise

Three of four Norwegians said they believe housing prices will increase in 2004, and people in the capital are more convinced of an increase than people in other parts of the country.

Three of four Norwegians said they believe the prices will increase some or considerably during 2004, while there is almost no one who said they believe the prices will fall.

The numbers were presented by the analysis agency Infact on behalf of the real estate firm Krogsveen AS. 1006 people nation wide participated in the pull.

In the pull, 17 percent said they believe the prices are going to increase considerably, while 58 percent said the prices would increase somewhat. In total that means that there of four, or 75 percent, believe the prices are going to increase in 2004, and the pull states that 83.5 percent of Oslo people believe in a price increase during 2004.When Norwegians were asked about their predictions in 2002, only 58 percent believed the prices would increase that year.

The pull was conducted in the beginning of the year. According to Econ, the prices have already increased 4.3 percent since then.

«Everything says that we should be careful with predicting, but with the basis in the expectations of a price increase which this survey documents, the trend towards historically low interest, including the price increase we have already seen in January, I would bet that the prices will increase between 10 and 15 percent nation wide this year,» said Geir Hantveit, CEO of Krogsveen AS.

He said he expects that most of this year’s price increase will occur within the end of March.

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