Financial Crisis and rental abroad

Nearly one in ten Norwegians have or plan holiday home abroad . The financial crisis does not change on that desire. Good economy , favorable interest rates and lower prices abroad , according If the explanation.

The financial crisis notwithstanding, there are still nearly one in ten Norwegians who have or are planning for holidays abroad ( 9% ) . 3% are holiday homes or holiday abroad today , while 6 % have plans to do this . The percentage is about the same as before the financial crisis. The survey TNS Gallup conducted for If were made in late November. 933 people were interviewed, and the results give a representative picture of the population . – We are probably surprised by the result considering all the focus has been on the financial crisis.

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But lower interest rates and more spacious economy , while lower prices abroad pull in the other direction, says Rune Smådal , Nordic Head of Property Insurance in If.

Norwegians think countercurrent in recession
Housing prices in the dominant rental markets in Europe and the United States will fall sharply from 2008 to 2009, with declining interest in both Norway and the EU will probably see many attempts to meet rental dream around the time of an expected price bottom in 2009 . Against this seems high euro and U.S. dollar against the Norwegian kroner, but falling prices combined with low interest rates will win in the wake rental needs. The survey shows that many Norwegians are able to think in counter recession . For the fact is that in the crisis year of 2009 will be an obvious buyer’s market , says Tom Andersson, editor in chief of the magazine Living Abroad .

Young wants rental
The dreams of rental is most prevalent among young people , 13% of those under age 30 say they plan on buying a home . Those over age 60 have either already rental ( 3%), or is reasonably concrete plans , 2% within 5 years and no answers that plans are further ahead than this. The desire for rental abroad is the same throughout Norway , and there is no difference between city and country. Those who already have rental fi nd we also throughout the country . The percentage of rental abroad is lowest in Hedmark and Oppland and Northern Norway . Every fifth with plans rental has changed their plans as a result of the financial crisis . Most have postponed plans temporarily or postponed them until further notice , while some have only changed the plans for rental type or location. Amended plans as a result of
financial crisis does not seem to affect anything special holiday destination.

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The Mediterranean is still holding its own
More than a third of rental located in the Nordic countries ( 39%), but among those who are planning for holidays will 4 of 10 it will be on the Mediterranean. Good economy , longer holidays , more opportunities for time off and more flexible employers make about 100,000 Norwegians have bought a holiday home abroad – either the house or apartment. Studies show that stable and warm climate matters most when buying homes in Europe. But also opportunities for activities , reasonably priced food and drink and access to beach and pool are important.

– We ‘ve taken the consequences of an increasing number of our Nordic customers are buying holiday home abroad , and therefore launches a separate rental insurance that applies to holiday properties
– Houses and apartments , as well as household goods – across the EU. Such policies were in demand, says Rune Smådal , Nordic Head of Property Insurance in If.




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