The home was sold for 26 percent above the suggested price.
Watch the video below to see photos from inside the home:
– Such objects are rare in today’s market. Here we met well in the market and met both private individuals and professional players who participated in the bidding round, says Maria Brændeland, real estate agent in DNB Eiendom.
This week she sold a home on Bjørnsletta on Ullern in Oslo for NOK 31.5 million. However, the price estimate was much lower, and was NOK 25 million.
– The seller is very happy with the price, and said it was an “untraditionally high price”, says Brændeland.
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– Great willingness to pay
Through the corona pandemic, we have seen that house prices, especially in Oslo, have been pushed up very high. In February, a two-room apartment of 26 square meters was sold for NOK 3.5 million – 700,000 above price suggestion.
Brændeland believes the corona pandemic may have contributed to the home in Ullern also being pushed up in price.
– Korona has meant that the developers have fewer projects, and are looking for new ones. That may be a factor. But this type of home, which we sold in Ullern, is very attractive to the market anyway, and it helps to push up prices, she says.
– But there were private individuals on the field as well, and it was a private individual who bought the home, she continues, and points out that there was a great willingness to pay – especially among the two bidders who fought in the end.
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The location sells
The house from 1930 has three bedrooms and is only 123 square meters. The home itself is tired, and it will be expensive to modernize it, points out the broker. It was therefore something else that attracted the stakeholders.
– It is the property and the location itself that matters most. The plot is a full 1.6 acres, and there are few properties of this nature for sale in this area, says Brændeland.
It is heading towards a generational change in the residential area it is located in, she points out, and says that many older people have lived in such homes for a long time and may want to find something easier. Bjørnslettstubben 5 has been in the seller’s family for a number of years.
– Large span
Even though the home went for as much as 26 percent above the appraised value, the real estate agent believes that the home was correctly priced in the first place.
– I had recently had a similar sale on Røa, where the object was sold for NOK 23.9 million, even though the plot was a little smaller. But it is impossible to hit the crown on these objects, she says.
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The real estate agent says that in advance of the sale they envisioned that the spread on the sale price could be from 25-30 million kroner.
– When you meet developers who see potential, and calculate their own profits, it can help push up prices, she points out.
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