The OBOS Group has sold homes in Norway and Sweden for NOK 4.5 billion after the first three months of the year.
The OBOS Group, after the first three months of the year, sold 1018 homes in Norway and Sweden at a total value of NOK 4.5 billion, according to a press release.
There is a doubling of sales compared to last year.
Adjusted for collaborative projects, 819 homes were sold at a sales value of NOK 3.2 billion. The sales are 55 per cent up in number and 92 per cent higher in value than in the corresponding period in 2018. The overall sales ratio is 69 per cent.
Compared to the first quarter last year, 361 more homes were sold this year. The development has been particularly positive in Norway, with 684 sales against 343 last year, it says.
Block Watne, which is part of the OBOS Group, sold 214 homes alone in the first quarter compared to 155 in the same period last year. Sales were particularly good in the Oslo region.
– We are experiencing great demand in all our regions, not just in the Oslo area. This is a trend we believe will continue. The activity in the new housing market in Norway has not been so great for several years, so there is no reason to slow down. But we are dependent on the municipalities getting ready-made plans at a faster pace and that large infrastructure projects such as the Fornebuban come into place, says CEO Daniel Kjørberg Siraj in the OBOS.
Improvement in Sweden
At the end of March, 67 per cent of the total new housing sales to OBOS were in Norway.
– The Swedish market is still demanding, although we see clear points of light. In Sweden, 334 new homes were sold in the first quarter compared to 312 in the same period last year, and we expect it to take some time before the market has stabilized, says Siraj.
At the end of March, the OBOS Group had initiated 615 new homes in its own projects compared to 475 in the same period last year. At the end of the first quarter, the group had a total of 5,693 dwellings under construction, of which 4,008 were sold.