The Cost of Real Estate Norway
Prepare to cough out some real Krona if you plan to purchase Norwegian real estate. Norway properties in the cities are on the high side, but the benefits upon moving there would be worth it. Norway is known as one of the happiest European countries in the world. The country enjoys a stable economy, has plenty of English speakers, is very scenic and is warmer than a popular film suggests.
Stumbling into this post suggests an interest in Norwegian real estate (https://www.bluehomes.com/Immobilien-Norwegen/N/de/debut.html). Norway is quite a popular country for foreigners when it comes to purchasing European properties, retirement or even migration. Contrary to the initial statement, Norwegian real estate is relatively affordable to most foreigners. Urban areas are of course more expensive than rural ones. Property is quite cheap in the countryside for those who prefer quiet retirement or vacation homes. A good balance between urban and rural can net an affordable home for those seeking to migrate and work in Norway.
Foreigners aren’t restricted in buying real estate. Norway just requires foreigners with a stable financial position and the proper documents. While real estate prices in Norway is higher than other European countries like Spain, Croatia and Greece, buyers will enjoy the fact that there is no property tax. Just a one-time 2.5 percent transfer tax upon purchase of the property.
The average price of a detached home in Norway costs about 2,700 USD per square meter. A modest 200-square meter home will cost half a million dollars, but depending on the location and state of the home, this amount could go lower. Of course, not everyone can cough out all their Krona, especially if they wish to purchase an urban flat. Norway will allow foreigners to mortgage a home provided they have a stable work and a high enough salary on provided pay slips. Foreigners need to present a work contract, a local bank account, passport, working permit and pay slips.
