"The richest country in the world" - such a conclusion was recently made in one of the articles of the British newspaper The Guardian. The main reason is the oil fields discovered here about 30 years ago. Norway is also considered by many Europeans to be the most expensive country in the world. And this is no accident, because here tourists are faced with the high cost of hotels, food, alcohol, etc. However, there are exceptions to this rule - the cost of real estate in this country is by no means prohibitive. The price level here is three times lower than, for example, in the UK, where real estate is considered the most expensive in Europe. At the same time, the Norwegian real estate market is growing, thanks in part to the interest of European investors in new ski destinations and ecotourism. In addition, the number of low-cost flights is constantly growing, which makes the country more accessible to residents of the EU countries. Aeroflot, however, flies from Moscow to Oslo only four times a week (flight time - 2.5 hours). The charm of nature and economy According to official data, over the past 5 years, property prices in Norway have grown on average by 12% annually, but last year's data showed an increase of 16.7%. According to experts' forecasts, real estate prices on the west coast will rise by 18-25% in the next two years. Why is it considered profitable to invest in holiday property in Norway? Firstly, it is a safe and wealthy European country with a low level of social risk, and the situation is unlikely to change in the foreseeable future, since the political situation here is stable. The state is investing heavily in the further development of the social security system and plans to reduce the cost of living. Norway has established itself as a great family vacation destination, ideal for parents with children, and is also a promising tourist destination. A significant number of the country's visitors come to Norway to see the famous majestic fjords. The number of people wishing to visit ski and ecological resorts is constantly growing. Thanks to this, the rental opportunities here are assessed as very good. Profit from renting a finished apartment in Norway can be around 22,500 euros per year, excluding taxes. Other reasons for buying property - friendly and welcoming people, unique landscape, summer nights, bright as day, stunning snowy winters - all this makes Norway a very special country. The intricacies of technology The buying process in Norway at first glance may seem simple and similar to how transactions are made in other countries. But a lot is not quite usual. Offers are classified by area - so a request for a house with a certain number of bedrooms will be ignored by agents. To find the option you want, you must indicate the required total area of the house, as well as the area of the garden or plot. It is on this information that the real estate agent is guided and, having it, will be able to select suitable offers. Let's go directly to the purchase technology. An agent representing the seller's interests can talk as long as he wants about the merits of a garden, the presence of a guest apartment in the house, or heating the floors in the garage - all this is certainly important and affects the cost of housing. But behind all this, you need not only to determine which of these characteristics of the house really matter to you, but also not to overlook those of them that will play a significant role in the subsequent sale. The home inspection usually takes place on Sunday afternoon or evening. Do not be surprised - by the arrival of a potential buyer, the owners can not only clean and tidy, but also make homemade cookies, thereby demonstrating their hospitality. During the inspection of the house, the buyer receives a thick folder of documents with photographs and a description of the house, a short report from the local authority inspector on the general condition of the structure, and a signed statement from the seller regarding the condition of each room. When concluding a deal, you will have to rely on this information. A complete survey of the technical condition of the property is usually impossible. The purchase and sale agreement always states that the buyer purchases the house after a preliminary check of the quality of the housing, and therefore it will be difficult to return in the future if any problems are found. Norwegians shrug their shoulders when asked about how they check the real state of the house. Most often, they say that they are taking a "familiar appraiser" with them to view the house. But even if you managed to arrange a real estate inspection with a specialist, keep in mind that in Norway the work of a construction inspector costs on average about 75 euros per hour. If the buyer liked what he saw, then a day after inspecting the house, he must make an offer to buy. If the property is sold urgently, then there is no time for a second inspection. The offer is valid only for a few hours, and the seller must decide during this time whether to agree or not. Real estate purchase tax is 2.5% of its value. Additional costs for legal servicing of the transaction are usually not required - it is borne by the real estate agency and its cost is already included in the commissions paid by the sellers. The down payment is usually 10% of the value of the property. Communication with agents and the conclusion of transactions with real estate agencies can be conducted in English. Mountains and fjords The dream of owning your own home in a ski resort can come true in Norway. Here you can find many offers, including traditional wooden houses. Such a house with two bedrooms, modern kitchen, bathroom and spacious terrace with panoramic views in the popular ski resort Voss, located just 1.5 hours from Bergen, is currently on sale for 99,000 euros. The same resort also has offers on the primary market. A new complex, The Oppheim Hotel and Spa, is currently being built here, which will be commissioned at the end of 2007. The center of the resort will be a hotel around which wooden houses will be located, the cost of which starts from 100,000 euros for a studio and reaches 355,000 euros for a luxurious family home. with 3 bedrooms. The owners have free access to all the services and leisure facilities the hotel provides. An off-plan purchase can generate income of at least 10% by the beginning of the 2008 winter season. The tourist season in Voss resort, when properties can be rented out with almost 100% occupancy, lasts from December to the end of March. However, there are many places in the country where you can rent apartments all year round. First of all, they include the city of Bergen, which is included in the UNESCO World Heritage List. It is the most popular tourist destination in Norway and the “capital of the fjords”, which is an ideal investment destination. Secondary market prices in Bergen are high as the number of young professionals in the city grows and everyone strives to live in the central areas. A one-bedroom apartment in a newly built complex near the coast will cost about 450,000 euros. As for the primary market, in a modern complex for 10 apartments, which will be created during the reconstruction of the old warehouse, the cost of apartments will be from 300,000 to 850,000 euros. At the same time, a one-bedroom apartment on the top level of a traditional Norwegian three-story building overlooking the famous fish market costs 190,000 euros. A bridge of fulfilled hopes Norway has other areas of interest to investors, some of which are not quite traditional. The shores of Norway are surrounded by hundreds of islands, the largest of which are connected by road bridges. Once a new bridge is built, a toll is imposed on it, usually ˆ 15 one way. Since travel in this direction is expensive, real estate on these islands becomes cheaper than on the mainland. However, after the bridge pays for its construction, travel through it becomes free, which is immediately reflected in housing prices - houses on such islands can instantly rise in price. This situation presents fantastic opportunities for investors. In terms of historical real estate, a unique hotel has recently appeared on the Norwegian market next to the fjord in the Stryn ski center, near the Nordfjord and Geirangerfjord, on the Tystigen glacier, one of the famous places in Norway. Built in 1850 in a traditional Norwegian style, this popular hotel has 15 apartments. Another investment opportunity is traditional family homes. As a rule, houses of this type are located on the coast, at some distance from large cities. This is a developing market: thanks to the developed infrastructure, the ability and desire of people to live in these areas and travel to large cities to work, local authorities more and more often receive applications for the construction of such complexes, many of which have their own beaches.
