House Prices/GDP per Capita in Norway compared to Europe
Norway: House price to income ratio
The house price to income ratio is the ratio of the cost of a typical upscale housing unit of 100 square metres, compared to the countrys GDP per capita. Normally this ratio will be much higher in low income countries than in high income countries.
The formula is: (Price per square metre / GDP per capita)*100. The house price to income ratios published by the Global Property Guide are based on the Global Property Guides own proprietary in-house research, but we use the IMFs GDP per capita figures.
Norway has an excellent collection of housing statistics. Statistics Norway has quarterly house price index, average monthly rents and housing construction data. Norges Bank publishes yearly house price index. General economics statistics are from the Statistics Norway and Norges Bank.