– I guess it is sold within three weeks, says real estate agent Ronny Jørstad in Aktiv Kragerø. The small cabin in Kragerø is only 27 square meters and has an outdoor toilet. But it also has 140 meters of shoreline. Real estate agent Ronny Jørstad in Aktiv Kragerø says the market is now more normal without wild bidding rounds. Photo: Matheo Dolva / news During the corona, cabins were sold at 1-2-3, but now demand has calmed down considerably. It is no longer almost a state of emergency like the last two summers. – There was almost panic in the market. People should have a cabin because they could not go on holiday, but we do not see that anymore. We have noticed a change of mood. It is no longer wild bidding rounds, but more rational buyers, says Ronny Jørstad. More expensive, but fewer cabins Cabin prices still continue to rise at the same time as far fewer cabins are sold. The price of cabins in the mountains, by the sea or inland in the first half of this year increased by 15.6 percent, according to statistics from Eiendom Norge. The average cabin now costs NOK 3,352,105. So far this year, 2,747 cabins have been sold, a decrease of 32 percent compared to the first half of 2021. Randi Marjamaa, head of retail at Nordea, says there are many indications that many families who have had a dream of buying a cabin, did so during the pandemic. They notice this by the fact that there are now far fewer applications for financing certificates. – After two years of strong growth in the cottage market, we have seen a big shift in recent months. Nordea offices, which had one or two applications per day in the spring of last year, now have around one application a week. Randi Marjamaa, head of retail at Nordea, says many families made their cottage dream come true during the pandemic. Photo: Nordea Marjamaa says they expect continued price growth for typical summer cabins. – There are few cabins close to the sea for sale, and especially in the most popular coastal areas there is very little supply and great demand. Rise in interest rates prevents young cottage buyers On Thursday, interest rates rose. Norges Bank raised the interest rate by 0.5 percentage points to 1.25 per cent. This is the first time in 20 years that the key policy rate has risen so much. This can lead to the dream of a cabin by the sea becoming even more distant for many. – Some buyers will not be able to afford it, says Ronny Jørstad. On average, a cabin in Kragerø now costs NOK 7 million. Jørstad says that it is traditionally well-adult people with savings, inherited or money from the stock exchange who buy a cabin in the Kragerø archipelago. During the corona, however, more and more young buyers arrived. But that may change now. – Some young buyers we have seen on the market will disappear. Soon the buyer’s market in the mountains But in the mountains there may be opportunities for a good cabin purchase. In several areas on the mountain, there will in future be a buyer’s market and opportunities to buy at lower prices than during the pandemic, Nordea believes. – For mountain cabins, we expect flattening of prices throughout the year. In many mountain areas there is a good supply, not least of new construction projects of cabins and holiday apartments, but we expect lower demand than in the last couple of years, says Randi Marjamaa in Nordea. SMALL AND EXPENSIVE: The cabin on Kjerringholmen is one of the few cabins close to the sea for sale in Kragerø. Photo: Focus Photo
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Cabin with outdoor toilet for 5.9 million – news Vestfold and Telemark – Local news, TV and radio
