A detached duplex in Oslo’s Nordberg neighborhood sold for 3.4 million kroner above its estimated price after a fierce bidding war among potential buyers. The two-family home changed hands for a total of 11.5 million kroner, according to property records accessed on Wednesday.
The sale price exceeded the initial estimate by nearly 42%, a rare outcome in Oslo’s current housing market where most properties sell close to or slightly above asking price. Real estate agents familiar with the transaction confirmed the high demand drove the price up. One agent, who requested anonymity, said multiple offers arrived within hours of the listing going live.
The home, built in 1938, spans 150 square meters and includes a garden. Its location in Nordberg, a quiet residential area in north Oslo, contributed to the strong interest. The neighborhood has seen increased demand in recent years due to its proximity to schools and public transport.
This sale follows a trend of rising prices in Oslo’s housing market. The city’s average home price reached 7.2 million kroner in March, up 8% from the same period last year. Analysts attribute the growth to limited supply and steady demand from both local and international buyers.
The seller, who declined to comment, accepted the highest bid without further negotiation. The transaction closed within two weeks of the initial listing, a faster-than-average timeline for Oslo properties.
Source: e24.no