- April 1, 2014: Vol. 8, Number 4

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Market Focus: Oslo, Norway

by Joanna Tano and Istvan Toth

Oslo, the capital of Norway, is home to 630,000 inhabitants. The Greater Oslo area accounts for a considerably higher population, reaching approximately 1.5 million, or a remarkable 30 percent of the country’s total population. The city is situated to the south-east of the country and occupies an arc of land at the northernmost end of the Oslofjord; there are 40 islands within the city limits.

Oslo is the economic, cultural and governmental centre of Norway and while not in the European Union is integrated via the European Economic Area agreement. The country promotes free trade and is open to foreign investments in a structured, yet business-friendly environment. Oslo is also considered to be one of the wealthiest cities in the world when measured on a GDP per capita basis.

Real estate overview

The Norwegian economy is gathering pace after a subdued 2013, as strong external demand drives business activity. Exports are anticipated to

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