Home economics

This could be yours for 1.5 million

“Buyer’s market,” says Trysil’s cabinet regulator.

This could be yours for 1.5 million

A number of experts have predicted growth in house prices in 2011 and the forecasts for the cabin market have followed similar curves.

The cabin prices at the sea increased by 18 per cent from last year. Little construction activity by the sea has been blamed for the sharp rise in prices.

But the cottage market for inland and mountain cabins has a different development.

Many cottages for sale provide opportunities for bargains, according to brokers.

This could be yours for 1.5 million

FOR SALE: Cabin in Trysil. Primary room 74 sqm. Bedroom 4. Year built in 2005. Plot of 869 sqm. Price paid NOK 1 500 000. Photo: Hedmark Real Estate

Under 1.5 million

Currently, 42 percent of all cabins are for sale in Finn. no in the price range below 1.5 million kroner.

In total there are 4357 cabins for sale and 1867 of these are in price less than 1.5 million.

– It’s the buyer’s market. It takes longer to sell and people are a little awaiting, says cabinetmaker Willy Storsnes in Hedmark Real Estate to Click. no

He has a cabin for sale in Trysil-Knuts Fjellsenter with a 1.5 million price proposition. The cottage was built in 2005, integrated in the terrain and with peat on the roof.

Last year, 2218 mountain cabins were sold here, and a new sales record was introduced.. Revenue also increased by seven per cent from 2009 to 2010, showing figures from the Swedish Real Estate Association’s (Eff) and FINN.

This could be yours for 1.5 million

FOR SALE: Cabin on Gardhamar / Golsfjellet. Primary room 60 sqm. Bedroom 3. Year built 1986. Plot 2 097 sqm. Price benefit NOK 1 450 000. Photo: 360 Frank Tolpinrud

Expensive in Hemsedal

Here are the links to the ads we’re referring to

1. Totenvika

2. Trysil

3. Sande

4. Gardhamar / Golsfjellet

5. Beitostølen / Catch

It is in Hemsedal that the most expensive cabins are located. Here is the average price of 2. 773. NOK 000, which is 29 per cent higher than Trysil.

But in Trysil it is being sold the most cabins. Here 121 cabins were sold last year, and there are 64 more than in Hemsedal, according to EFF.

Not bad time

But you can not expect to make the big barges, says Director Finn Tveter at Norges Eiendomsmeglerforbund (NFF). People know what they will have for the cabins and they do not have a bad time in terms of sales.

This could be yours for 1.5 million

FOR SALE: Cottage in Beitostølen / Vang. Primary room 44 sqm. Bedroom 3. Lot 2. 000 sqm. Price benefit NOK 1 490 000. Photo: The Broker House Eie

– The signals I’ve received are about taking some time to sell, but everything is being sold – mostly for asking.

But Tveter is aware that the cabin market can not be compared to the housing market. Cabins are a surplus phenomenon, but a nice profit phenomenon, he says.

Interest rate will affect

Researcher Roger Bjørnstad at Statistics Norway (SSB), however, believes that cabins, to a greater extent than housing, are investment objects, and interest rate hikes can hit the cabin market a bit harder.

This year, we are likely to experience a moderate rate of increase, but household income will still be relatively good and interest rates will still be at a low level. These conditions will affect both the housing and the cottage market about the same, “he stated to Hytteliv. no in January.

This could be yours for 1.5 million

FOR SALE: Cottage in Totenvika down towards Mjøsa. Primary room 40 sqm. Bedroom 1. Year built 2003. Land 1 1,870 sqm. Price paid NOK 1 500 000. Photo: Terra

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This could be yours for 1.5 million

FOR SALE: Cabin in Mørkassel / Sande. Primary room 59 sqm. Bedroom 3. Year built 1969. Plot 1 359 sqm. Price benefit NOK 1 450 000. Photo: DnB NOR Property

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