Norwegians buying tons of real estate in Sweden

Friday, May 08, 2009

A quick piece of news in Norwegian from here. Buying real estate in neighboring Sweden at a time like this makes sense considering 1) the record low interest rates, 2) the fact that Norway hasn't been hit as hard by the crisis as other countries (they have oil), and 3) the difference in GDP per capita between the two:

Norway - $95,062
Sweden - $52,790

And since relations between the two are as good as can be, this is good news for both countries.

Part of the article:

In spite of the financial crisis, more and more Norwegians are getting cabins in Sweden, and moving ever southwards. Real estate agents in Strömstad and Tanum are having the best sales they have had for over 10 years, reports Swedish Radio. And with record low interest rates in Norway and Sweden the selling is continuing.

In Strömstad 80-90 percent of real estate buyers are Norwegian, though this is not the same case in Tanum.


The prices can be as high as 3 million Swedish kronor ($400,000) or more.


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