Housing in Norway- advice please

missy-

Hi,
I am after a bit of advice for a dear friend of mine.
I live in a shared ownership property in the UK which has been a fantastic opportunity for me to get a step into the housing market.
My friend lives with his wife in Oslo, Norway and although they both have a good, regular income, house prices are so sky high that they are unable to think about buying anywhere yet and so are saving towards the goal of buying somewhere while they are currently renting.
Does anyone know of any schemes to support first time buyers in Norway? Bit of a long shot, but I thought I would ask.
Thanks guys

davidmcn

Doubt there's much point asking here, they'd be best to find a Norwegian forum.

missbiggles1

As your friend and his wife actually live there, surely it'll be easier for him to find this out?

missy-

He's not great at that sort of thing anyway. He just said there are no schemes out there. I'm just having a little try to help them on their way. X

D_M_E

Owner occupancy is strongly subsidized by the state
Owner occupancy has been increasingly popular in Norway. State policy has had a strong impact:
Preferential interest rates are offered to households through the State Housing Bank.
Buyers can purchase municipal land at subsidized prices.
Owner-occupiers get tax relief on mortgage interest payments.
Owner-occupied housing is taxed at a lower effective rate than rental housing.
Owner-occupied dwellings are capital gains tax exempt.


According tohttp://www.regjeringen.no/en/dep/krd/press/press-releases/2012/a-pro-active-and-forward-looking-housing.html?id=701294, additional funds were also allocated to the following:
Subsidies for establishing home ownership will be up by NOK 30 million to 354.3 million.
Subsidies for home adaptation will be raised by NOK 47.5 million to NOK 172.5 million.
Subsidies for rental homes will be increased by NOK 58.6 million to NOK 488.6 million.

The Norwegian State Housing Bank lending limit will be increased to NOK 20 billion in 2013.

Quoted from http://www.globalpropertyguide.com/Europe/Norway/Price-History

Also http://mylittlenorway.com/2010/04/do-you-really-want-to-live-in-norway/ makes interesting reading.

Note that both sites referenced are at least 3 years old, but it's reasonable to assume that Norway does not have Right to Buy or Assisted Purchase schemes such as are available in Britain.