Thursday , August 11 2022

A full crown in the salon market – and it will continue in 2021


Low interest rates, closed borders and incentives to stay at home in the mountain cabin market have created wild conditions. November continued in full swing, according to brokers, DN has contacted.

– It was completely raw with us in November. A mountain broker in Hallingdal, which includes Hemsedal, Gols and Geilo, sold 107 properties this month, up from 51 last year. Total turnover increased by 85 percent. These are record numbers, certainly we have never seen it, says real estate agent Christian Haatuft Geilo.

He makes no secret of the fact that the summer house market is one of the real winners of the crowns, because when people have to stay in Norway, they are more interested in improving both the house and the summer house. Or buy the salon they want for many years.

– When we started the Uthussentra project, which is a row of cabins and cost between 4.9 and 5.9 million kroons, we sold half in a few days. The challenge now is that there are too few cabins for sale, ideally there needed to be a lot more on the market to meet the fierce demand, says Haatuft.

Strong growth

The latest figures from the Forecast Center show that so far this year, the turnover of 13,510 holiday homes has been registered, which is even 25 percent more than in the same period last year. The average price has risen by nine percent to NOK 2.3 million, and the price per square meter is NOK 30,800, which is seven percent higher.

– Yes, now we are at the highest level all the time. It has been in full force since April / May, and we believe it will continue in the first half of 2021. There is no evidence to the contrary, says partner Bjørn-Erik Øye at the Forecast Center.

– The question now is how long this process will continue. The salon market got a kickstart with the crown, and since then we have stayed in Norway. It then asks what happens when the crown crisis is over, and we can travel abroad again. But now there is at least full pressure on salon tours, and everything disappears – in all price ranges, says Øye, who has been analyzing the Norwegian salon market for several years.

The reason why supply in many places is now too low compared to the explosion in demand is that the start-up is slightly behind. But it will increase, says Øye.

– Now the projects are ahead. A lot is happening, and when a lot of new projects appear on the site, it can help further drive demand, he adds.

The Dæhlie cab is for sale again

Real estate agent Petter Birkrem Privatmegleren, who sells a lot of cabins in Trysil, agrees that November was a “very, very good month”, although October was even better.

– We sold 32 holiday homes in October and November 26, which is more than last year. If there had been more items for sale, we would have set new records. But right now he has too little to sell compared to stakeholder pressure, he says.

Bjørn Dæhlie cabin Trysil is sold for DKK 13.9 million.

Bjørn Dæhlie cabin Trysil is sold for DKK 13.9 million. (Photo: Photo: Inviso AS / Bernat Tubau)

Many have a smaller cabin and they are looking for something bigger, others are entering the market for the first time. And although it is not appropriate for Swedes to relax in Norway immediately, they are also real On per day, reports Birkrem.

– I have had several facetime shows with Swedes in recent weeks. They want Trissille to have a cabin that they can use when the border reopens, says the broker.

He has now just evicted Björn Delhi’s cabin in Trisila at a price of NOK 13.9 million. A 281-square-meter cabin right on the slopes of the Alps with a jacuzzi, ten bedrooms and six bathrooms, which was also sold in 2018 for 12.9 million kroons.

It was actually a ski legend and an investor’s first investment in real estate.

– In 2019, a number of cabin improvements were made, says Petter Birkrem, who believes that the Dæhlie cabin has good opportunities in today’s hot salon market.

Looking for luxury cabins

Hafjell and Quitfjell also have a fire hood, according to real estate agent Stig Svartor in Privatmegleren in Lillehammer. He reports about 40 vacation homes sold last month, up 88 percent from November last year.

– Thats crazy. I haven’t looked like that! The market is still selective, but there is so much demand and demand, and so many sales – and now the shelves are starting to run out. We would like to have a lot more to sell, says Svartor.

The cabin, which they rented for seven million kroons on Monday morning, was sold for eight million kroons an hour later. There are a number of cabins for sale in the area with a price range of 30 million “off the market”, and Stig Svartor is looking for cabins ordered by people who, for example, “want something around 20 million”.

– During the day the market is really really good, he says.(Regulations)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share your cases via a link that leads directly to our pages. No part of this site may be reproduced or transmitted in any form or by any means without our written permission. See additional terms here.

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