Oslo property prices cut by up to one-third

Property prices in Oslo's high-end housing market are being cut by up to 30 per cent.

Demand is weakening for expensive homes in the Norwegian capital city, which is prompting sellers to slash prices. Indeed, one villa in the trendy Holmenkollen district saw its asking price discounted from NOK 50 million last summer to NOK 32 million.

Newspaper Dagens Næringsliv reports that brokers have advised sellers to lower expectations if they want to attract buyers, leading to seven out of 10 of Oslo’s most expensive properties listed for sale having their prices slashed.

Source: NewsinEnglish.no