The cabin market has taken a hit, but Realtors believe the most expensive cabins on the market still have buyers.
In the first quarter of the year, turnover in the cottage market fell to its lowest level since 2003. In a tough day-to-day life, brokers are now seeing signs that many ordinary Norwegians will have to sell the cottage they bought during the pandemic to service their mortgage.
At the other end of the market – in the luxury sector – there are now four holiday homes for sale in Finn with an asking price of at least NOK 29 million.
Brokers admit that the market in this sector has also changed, but they believe that there are buyers here who are not particularly affected by high interest rates and inflation.
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Bidding Round Tips: – It’s the dumbest thing you can do
In Indre Oslofjord, you have the chance to secure a private island: Torbjørnsøy outside Nesøya in Asker municipality for sale at an asking price. 35 million Norwegian kroner.
The property includes a cottage, an annex, a boat house and a large dock with deep water dock. The island is just under 6m wide and has almost all of its own beaches. 400 metres.
The cabin was recently purchased last year for NOK 43 million. Thus, the owners suffer a stinging loss.
– There was a fight between two billionaires last year. It was a wild bidding round at the time, says brokerage Ann Girling-Smith at Noordwijk.
She says the situation now is very different.
– There are not many buyers. It’s a slow market in general. Many things have become a little more expensive. At the same time, buyers in this category are people who can care less about price, Gerling-Smith says.
We will not get rid of the luxury cab: – The market has come to a complete halt
Dæhlie Cabin in Trysil
In Tressel plot of 3547 sqm, cottage with 11 bedrooms and a wine cellar.
The cabin is owned by the Bakketunet eiendom, which is controlled by Bjørn Dæhlie and his business partner Rolf Mobæk. It came to market last fall, but sales have taken a while.
– The market is a bit of a wait-and-see. Customers aren’t sure how prices will turn out, says broker Petter Birkrem at Privatmeglerne, who is in charge of sales.
Berkrem believes that the market suffered a clear disruption, especially when electricity prices rose.
Dæhlie and Mobæk bought the cabin seven years ago for NOK 21 million. Now they want 29 million.
Swiss heirs and immigrants
At Larkollen outside of Moss, you can secure a cabin with two annexes and its own sandy beach. In the sales ad on Finn, it is described as a “pearl of the beach”.
The house sits on a 7.3 acre landscaped lot and has its own dock.
Asking price: NOK 35 million.
The cabin is owned by brothers Peader and Thomas Ray Lair. According to public records, the brothers took possession of the cottage in April of this year.
They are heirs to real estate investor Eric-Arne Lear. Today, Peder Lier runs the Pegasi investment company, which invests in real estate.
In 2021, Peder Lier had a fortune of NOK 54 million, and an income of NOK 13.7 million, according to tax filings. Brother Tomas is registered in Barcelona and runs the real estate company Trl Eiendom.
The heirs of the property moved to Switzerland
Earlier this year, Peder Lier joined many other wealthy Norwegians out of the country when he moved to Switzerland with his wife, real estate heiress Pheobe Hveem Lier. The resort the couple is moving to is the same luxury resort billionaire and investor Kjell Inge Røkke announced he was moving to last fall.
The couple got married in the year 2018. It was a grand luxurious wedding ceremony that featured them Vogue magazine. Finansavisen referred to the party as “Norway’s most expensive wedding”.
Seeing signs that many are selling cabin for mortgage service
a difference of 20 million
In Engelsviken outside Fredrikstad you can have two cabins on a plot with a view close to the water. If you f 30 million Norwegian kroner In your possession they are ready to go their separate ways.
The property is for sale as part of an inheritance settlement, says broker Jan-Frederic Bond at Sem & Johnsen. He says they have interested parties on offer, without it resulting in sales. Although the price is high, it is believed that the higher price bracket makes the property less vulnerable to the economy.
You will always have buyers for good property. There is a big difference between the average cabin and those who spend more than 20 million. Bond says there is a difference.
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