Record quarter for Selvaag Bolig – homes sold for 1.43 billion

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During the first quarter of the year, the housing development company Selvaag Bolig sold 247 homes for a total of NOK 1.43 billion. Measured in value, this is the best first quarter sale and the second best quarter sale in the company’s history, the company writes in a stock exchange announcement on Tuesday morning.

– Sales were very good in the first quarter. There has been great demand in all the markets we operate, but especially in the outskirts of Oslo. This is due to the fact that we have good products in the right place, that there is a low mortgage rate and that too little is being built in Oslo, says CEO Sverre Molvik in the report.

Net sales, ie sales adjusted for Selvaag Bolig’s ownership interest in collaborative projects, ended at 248 homes with a total value of NOK 1,242 million. During the quarter, Selvaag Bolig started construction of 134 homes. 95 homes were completed and 124 were handed over to the buyer. As of 31 March, Selvaag Bolig had 1,349 homes under construction and 17 completed homes that had not been sold.

For the corresponding quarter last year, the real estate company sold 164 homes worth NOK 840 million.

Frederik Selvaag grew up among art treasures
Frederik Selvaag grew up in the house next door to grandfather Olav Selvaag. With the garden full of sculptures, art became an important part of childhood.

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11.08.17 — 12:13

– We have sold well in already initiated projects and in addition had successful sales starts. There has been a particularly high demand for our Pluss homes, which are homes with common areas and services, says Molvik.

Rise in new home sales

Since mid-December and into February, 3,246 new homes were sold nationwide. This is 45 per cent more than the same period last year, but 10 per cent less than in the last two-month period.

It showed the latest edition of the Socio-Economic Analysis report «Econ Nye Boliger», which was published on Tuesday. The report comes every other month, and provides an overview of price and sales development in new housing projects.

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– In general, the impression is that the new housing market is doing very well. We have not had such high February sales as long as we have registered these statistics since 2013. We see that they have recovered what they lost from the start of the corona pandemic, and well so. The number of unsold homes has fallen sharply throughout the country since the turn of the year, says chief economist Andreas Benedictow in Socio-economic analysis.

Sales since December account for 18 per cent of the homes that have been for sale. This is six percentage points higher than in the same period last year. The highest sales rate is in Eastern Norway with 23 percent.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other form of use of all or part of the content, can only take place with written permission or as permitted by law. For further terms see here.

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