Operating environment

Housing

• Consumer activity recovering but not yet at the level of 2019. The recovery is visible also in growing number of mortgage applications for banks.
• Private property investor demand moderate.
• Institutional investor decision making returning more active after the uncertainty caused by the coronavirus pandemic.
• Availability of housing company loan financing expected to remain limited and difficult

• Consumer demand starting to recover but expected to stay below the level of 2019.

• Consumer demand starting to recover but expected to stay below the level of 2019.

• Consumer demand continues to focus on reliable contractors.
• Low mortgage interest rate is expected to support sales.

Business premises

• Property investors becoming more active and readiness to make decisions normalising.
• Rental demand recovering also among mid-size companies.
• Contracting market remains stable as cities have large volume of projects ongoing and in preparation.
• In longer term, the need for office premises is expected to remain stable even though remote work will become more common.
  

• Contracting market staying slow due to uncertainty caused by the coronavirus pandemic.
• Price level staying low due to intense competition.
  

• Property investors becoming more active.
  

Infrastructure projects

• Market expected to remain stable due to complex infrastructure projects in urban growth centres, transport projects and industrial investments.
• State stimulus packages are supporting the infrastructure sector during the winter and next year.
  

• Price level staying low due to intense competition.
• Contracting market slowing down.
  

• Infrastructure construction expected to remain at a good level due to traffic infrastructure development programmes and urbanisation development.
• Large-scale road, railway projects and industrial investments ongoing and in preparation.
• Development and renewal of energy production in Norway supporting demand.