The Government has commissioned OsloMet, Samfunnsøkonomisk Analyse and Eiendsomverdi AS to establish a new center for housing market research. - We contribute data and expertise, says Real Estate Norway CEO Christian Vammervold Dreyer.
In a press release on Friday, November 2, 2018, the Ministry of Finance and the Ministry of Local Government and Modernization announced that OsloMet, Social Economic Analysis and Eiendomsverdi AS have been commissioned to establish a new center for housing market research.
One such center was announced in the Government's strategy for the housing market, which was presented in June 2018.
The center will strengthen knowledge of the housing market through research, education, networking and dissemination.
The Ministry of Finance and the Ministry of Local Government and Modernization award OsloMet a contract of NOK 4.5 million annually for three years, with the possibility of extension up to five years.
Research should provide knowlegde
- Although the housing market is of great importance to the individual and to the economy as a whole, there is little research in this field. By establishing a center for housing market research, which will have the freedom to think new and long-term, we will make sure that Norway has a solid academic environment in the future, says Finance Minister Siv Jensen (Frp) in the press release.
- It's a big day for us when we now have this center established at OsloMet. Developments in the housing market are of great importance to our welfare society. We need research to better understand how government regulations affect building rates and house prices, and what drives house prices in the different parts of the country. We are confident that the new center will give us a better basis for decision-making for more effective policies, ”says Monica Mæland (H), Minister of Local Government and Modernization.
Through the establishment of the research center, OsloMet, Samfunnsøkonomisk Analyse and Eiendomsverdi AS want to create a national academic environment within housing research. In this work, they will involve various research communities and other actors with interests in the housing market. Those involved in the new center have strong expertise in the housing market and broad research experience. OsloMet also plans to recruit more students and researchers to the center.
Røed-Larsen becomes director
Professor at BI Norwegian Business School and head of research at Eiendomsverdi Erling Røed-Larsen, and the academic responsible for Real Estate Norway's housing price statistics, becomes the director for the new research center.
- I'm getting really excited. I have been researching the housing market for a long time, even before the financial crisis. I thought we must have a national center, so I've worked with and for this long, says Røed-Larsen to DN.
- We will select some of the unanswered questions, and those that are most socially significant. We will meet the real estate agents and banks and ask what they are wondering.
- We have the world's best housing database In Norway. We will exploit this, he says.
Real Estate Norway contributes
Real Estate Norway has a letter of intent with the new center on sharing our data and expertise, says Real Estate Norway's CEO Christian Vammervold Dreyer.
- It is necessary to establish a dedicated research center on the housing market. We have had a number of specialized public research institutes in Norway for many years, but not one on the housing and real estate market.
- Due to the statistics cooperation with the real estate industry and Eiendomsverdi As, Norway is in its own league when it comes to good transaction data on the housing market. The potential for research and new knowledge of the housing market in this database is enormous. It is also important because of the size of capital movements in the housing markets, as well as the high number of homeowners in Norway.
- We look forward to the cooperation and the realization of the center, concludes Dreyer.
It is planned the center will be established immediately.