Norwegian property cools down

Norway's housing market has boomed in recent years, sparking fears of a housing bubble. Now, though, Norwegian property has cooled down, with demand and prices slowing.

Figures from Statistics Norway (quoted by Global Property Guide) highlight the extent to which the market slowed at the end of last year, with prices rising 2.95 per cent in the third quarter of 2013 year-on-year, the slowest annual rise since the same period in 2009. Indeed, once adjusted for inflation, prices dipped 0.11 per cent year-on-year thanks to a quarterly drop of 1.76 per cent.