– It is something that has come with the times and an increasingly strong purchasing power of the 50+ group, we can say. That’s what Magnus Aasen, managing director of Eiendomsmegler 1 Innlandet and chairman of the Eiendomsmegler 1 alliance says about the phenomenon of “The new townhouse”. It is no longer the case that a cabin only means a tiny house in the mountains or by the sea. – Others may want a different offer than skiing or fishing, and look more towards urban pleasures such as restaurants, cinema, theater and so on, says Aasen. People who are looking more towards the urban, but live in smaller places themselves, may therefore wish to buy an apartment in the city, to use as a cottage. – Some may be keen to get closer to their own children, who live in the city, and there is hardly enough space. Then it can be nice to have an extra place to live for someone, when they want to stay in the city, says Aasen. Magnus Aasen, in Eiendomsmegler 1, says some people look more towards urban pleasures such as restaurants, cinema, theatre, etc., when they are going to buy a cabin. Photo: Estate agent 1 Aasen says it is usually the smaller apartments, which are used as townhouses. City cabins can be found in most of the larger cities in Norway, but Aasen says the phenomenon is greatest in Oslo. – It is always available 54-year-old Gro Berg lives in Ørland, and has had an apartment for cottage use in Trondheim since 2004. She and her family bought the apartment in connection with the fact that they had finished paying the mortgage. – And then we thought that a cabin is nice, says Berg. Berg and her husband live in the countryside, but grew up in the city. The family wanted to take advantage of the opportunities the city offers. – My husband is very interested in classical music, so we thought that a cottage in Trondheim would be nice to be able to take in concerts, city life and theatre, and things like that, says Berg. Gro Berg from Ørland and his family have had an apartment in Trondheim as a cottage since 2004. Photo: Privat All performances and concerts finish late in the evening, and then it is not possible to take the fast boat home from Trondheim for Berg and his family. – Then you have to drive, and it’s not always as fun to drive ten miles after you’ve been to a concert, so we wanted a cabin in the city, says Berg. Berg says one of the reasons why they are so satisfied with the townhouse is that it is always available, unlike, for example, a hotel. – It is always there, it is always available. Suddenly we go on a city trip, and then we know that we have the opportunity to spend the night, if we feel like it. It is also not to be overlooked that there is some money placement as well. It’s a way to save, says Berg. A smooth transition The trend of people buying a cottage in the city to use as an apartment is something Eiendomsmegler 1 has noticed in recent years. – I think it has been a smooth transition. Many have seen it as an investment and savings, perhaps towards their own children and a student life in the city. Then you have gradually seen that you can take over the apartment yourself, and use it as a haven in the city, when the young person moves out and starts their own establishment, says Aasen. At the same time, the pandemic changed the travel habits of Norwegians. – The uncertainty in the world now probably also means that many people see it as perhaps safer to orient themselves a little more towards investments in their own country, instead of perhaps investing abroad or further afield, says Aasen. – Does this trend have anything to say for the housing market? – Yes, I would like to think that it has. There will be more about the bone. It is clear that a cabin in the city is not used as much as a home, so of course this will mean that there are more empty beds in the cities, and this means that the demand increases and the supply decreases, says Aasen. A pressured housing market Erlend Eide Bø, housing researcher at Statistics Norway (SSB) says that there are not very good figures for who buys cabins and who buys rental properties. Bø cannot therefore say whether there is any trend or increase in people buying townhouses. – If it is the case that more people buy flats in the cities to use as a holiday home or holiday home, how might that affect the housing market? – It is like that a townhouse could be used as a home by others. One can assume that it will be most common to use a smaller apartment as a cabin, because it is expensive to buy in the cities. Thus, there are probably apartments that could either have been used by relatively young buyers or that could have been rented out, says Bø. Demand from cabin buyers will then increase competition for the small apartments, Bø explains. – But at the same time, there is reason to believe that buying a townhouse is not so attractive in pressured areas. Those who buy a cabin are probably more price sensitive than those who will live, says Bø. Erlend Eide Bø, housing researcher at Statistics Norway (SSB) says, one can assume that the demand for townhouses will increase competition for the small apartments. Photo: SSB Bø says there is great pressure in the housing market in most large cities in Norway. – There has been rapid price growth over recent years. During the pandemic, the rental market was not so pressured, but now there is again a great shortage of rental housing, as students and foreign workers are coming back again, says Bø. At the same time, it may happen that the interest rate hike will reduce this demand in the long term, Bø points out. It can also mean that you get more for renting out than you got before. – It will probably reduce the demand for townhouses, says Bø.
ttn-69
Den nye byhytta – news Norway – Overview of news from different parts of the country
