Norway Real Estate Market Outlook 2024

January 31, 2024 45 Minute Read

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The CBRE Market Outlook report for Norway in 2024 forecasts a slowdown in the Norwegian economy, however, it is expected to be bolstered by the oil services sector. Inflation is predicted to remain above target, averaging around 3.7% in 2024.

The yield expansion period in Norway's real estate market is nearing its end, with capital values expected to hit a low in 2024. Despite a significant decrease in investment activity in 2023, positive signs indicate a potential increase in the coming years, albeit challenges remain. The rising interest rates and increased bank margins have significantly raised the cost of borrowing, creating a debt gap that presents a challenge to the real estate market.