Latest news with #Storting
Local Norway
23-06-2025
- Business
- Local Norway
Why it could become easier to buy a property in Norway
In recent years, a combination of high property prices and high interest rates on mortgages has made the barrier to buying a property in Norway seem insurmountable for many, with first-time buyers particularly affected. However, a new government proposal could soon make it easier for more people to get a foot on the property ladder. Expansion of rent-to-own and shared ownership On June 20th, the Labour government introduced a bill that aims to expand the availability of home purchase models known as 'rent-to-own' ( Leie til Eie ) and 'shared ownership' ( Deleie ). Neither of these are entirely new. Since 2022, around 2,000 people in Norway have bought a property or a share in a property on one of these models. But Norway's government plans to expand these schemes to more property types. Currently, only 20 percent of homes can be purchased under one or other of the schemes. The government is proposing expanding these non-traditional home purchase methods by making amendments to the Housing Cooperatives Act ( burettslagslova ) and the Ownership Sections Act ( eierseksjonsloven ). Advertisement What are Leie til Eie and Deleie ownerships? 'Rent-to-Own' and 'Shared Ownership' are flexible home purchase models designed to lower the barriers to homeownership. Under the Rent-to-Own model, buyers start as renters but have the right to purchase the property within a specified period. This gives renters the opportunity to save up and prepare for the purchase while living in the home. The Shared Ownership model allows consumers to buy a portion of the property while having exclusive usage rights to the entire home. Buyers purchase at least half of the apartment and pay rent for the portion they do not own. Over time, they can gradually increase their ownership share until they own the entire property. This arrangement diminishes the initial equity and loan requirements, making it easier for people to enter the housing market. Moving forward The change is likely to stimulate the construction of new apartments, as developers will be able to sell more units using these flexible models, especially in high-demand areas like Oslo. The proposal also includes provisions to strengthen consumer protection when using these home purchase models. The Norwegian Parliament ( Storting ) will review and process the proposal after the summer break, as it officially closed its doors for the holidays on June 20th.
Yahoo
13-05-2025
- Politics
- Yahoo
King Harald and Crown Princess Mette-Marit of Norway Team Up to Host Former President Barack Obama
President Barack Obama had a royal visit during his trip to Norway. The former U.S. leader visited with King Harald V, the King's daughter-in-law Crown Princess Mette-Marit and Prime Minister Jonas Gahr Støre at the Bygdø Kongsgård royal summer estate in Bygdøyveien on Tuesday, May 13. The visit came as Obama was in Norway for a lecture at the Oslo Spektrum on Monday, May 12. Moderated by Sofie Høgestøl, a podcaster and former member of Norwegian parliament, the discussion delved into 'some of the most pressing issues of our time, as well as his thoughts on the challenges facing the world's democracies in the future.' Obama and King Harald were well acquainted during his time in office. The monarch presented the former president with the Nobel Peace Prize in 2009 for his efforts in international diplomacy. The meeting came just over a year after King Harald reduced his royal duties following a lengthy sick leave and an operation to install a permanent pacemaker. "The King will make adjustments to his program in the future, out of consideration for his age. This will entail a permanent reduction in the number and scope of activities in which the King participates," the Norwegian Royal House announced on April 22, 2024. Princess Mette-Marit's husband, Crown Prince Haakon, is next in line to the throne and has assumed some royal duties due to his father's health limitations. The couple married in 2001 and share two children, Princess Ingrid Alexandra, 21, and Prince Sverre Magnus, 19. Princess Ingrid is currently second in line to the throne thanks to Norway adopting absolute primogeniture in 1990, allowing for eldest female children to come before their brothers in the order of succession. Though the King of Norway has had several health issues in recent years, including hospitalizations for infections in December 2022 and May 2023, he stated in January 2024 that he had no plans to abdicate. The issue was top of mind after Queen Margrethe of Denmark voluntarily stepped down from the throne in January 2024. 'No, I don't really have it. I stand by what I have said all along. I have taken an oath to the Storting, and it lasts for life,' King Harald said at the time, referring to his promise to the Norwegian Parliament when he acceded at age 53 in 1991. Read the original article on People
Yahoo
13-05-2025
- Politics
- Yahoo
King Harald and Crown Princess Mette-Marit of Norway Team Up to Host Former President Barack Obama
President Barack Obama had a royal visit during his trip to Norway. The former U.S. leader visited with King Harald V, the King's daughter-in-law Crown Princess Mette-Marit and Prime Minister Jonas Gahr Støre at the Bygdø Kongsgård royal summer estate in Bygdøyveien on Tuesday, May 13. The visit came as Obama was in Norway for a lecture at the Oslo Spektrum on Monday, May 12. Moderated by Sofie Høgestøl, a podcaster and former member of Norwegian parliament, the discussion delved into 'some of the most pressing issues of our time, as well as his thoughts on the challenges facing the world's democracies in the future.' Obama and King Harald were well acquainted during his time in office. The monarch presented the former president with the Nobel Peace Prize in 2009 for his efforts in international diplomacy. The meeting came just over a year after King Harald reduced his royal duties following a lengthy sick leave and an operation to install a permanent pacemaker. "The King will make adjustments to his program in the future, out of consideration for his age. This will entail a permanent reduction in the number and scope of activities in which the King participates," the Norwegian Royal House announced on April 22, 2024. Princess Mette-Marit's husband, Crown Prince Haakon, is next in line to the throne and has assumed some royal duties due to his father's health limitations. The couple married in 2001 and share two children, Princess Ingrid Alexandra, 21, and Prince Sverre Magnus, 19. Princess Ingrid is currently second in line to the throne thanks to Norway adopting absolute primogeniture in 1990, allowing for eldest female children to come before their brothers in the order of succession. Though the King of Norway has had several health issues in recent years, including hospitalizations for infections in December 2022 and May 2023, he stated in January 2024 that he had no plans to abdicate. The issue was top of mind after Queen Margrethe of Denmark voluntarily stepped down from the throne in January 2024. 'No, I don't really have it. I stand by what I have said all along. I have taken an oath to the Storting, and it lasts for life,' King Harald said at the time, referring to his promise to the Norwegian Parliament when he acceded at age 53 in 1991. Read the original article on People
Yahoo
04-04-2025
- Business
- Yahoo
Norway greenlights increase in aid to Ukraine to almost US$8bn this year
The Norwegian government discussed and approved an increase in assistance to Ukraine by NOK 50 billion (US$4.6 billion) for 2025, bringing the total to NOK 85 billion (US$7.8 billion), during a meeting on 4 April. Source: Norway's Finance Minister Jens Stoltenberg, as reported by European Pravda, citing Norwegian public broadcaster NRK Details: Stoltenberg noted that the Norwegian government has approved a support package totalling NOK 50 billion in addition to the previous NOK 35 billion aid. This brings the total amount of funding to support Ukraine this year to NOK 85 billion. "We are tripling our military support," the minister stated, noting that the funds will be allocated abroad, ensuring no strain on the Norwegian economy. Background: In early March, the Norwegian parliament, the Storting, backed the funding increase to support Ukraine. Earlier, Oslo approved the NOK 75 billion (about US$7 billion) Nansen programme, which guarantees long-term support for Ukraine until 2027, providing NOK 15 billion (about US$1.4 billion) annually. However, this year, Norwegian authorities proposed increasing the programme's funding to €135 billion and extending it for another three years until 2030. Support Ukrainska Pravda on Patreon!
Yahoo
04-04-2025
- Business
- Yahoo
Norway to nearly double its K9 howitzer fleet for around $534 million
PARIS — Norway plans to nearly double its fleet of self-propelled artillery, proposing to buy an additional 24 K9 Thunder howitzers from Hanwha Aerospace for a budget of 5.65 billion Norwegian kroner, or $534 million. The 155 mm howitzers will equip a new artillery battalion within the planned Finnmark brigade being set up to bolster Norway's defenses in the high north, according to a government proposal published on Friday. The purchase plan is part of 17 billion kroner in proposed spending that also includes more sea mine-clearing capability, new military trucks and spending on facilities. Norway already has 28 tracked K9 howitzers as well as 14 K10 ammunition resupply vehicles, and will exercise an option in its contract with Hanwha for the additional purchase, the government said. The spending plan still needs to be approved by the Norwegian parliament, the Storting. 'We are in a serious security policy situation,' Minister of Defence Tore Sandvik said. 'Therefore, we will now ask the Storting to approve significant investments in various parts of the Armed Forces to strengthen Norway's defense capability, in line with the ambitions of the long-term plan presented last year.' The Norwegian government in October last year proposed to raise the country's 2025 defense budget by 19.2 billion kroner to 110.1 billion kroner. The budget for the additional howitzers includes the guns as well as spare parts, according to the spending proposal. The acquisition of additional artillery pieces 'will contribute to significantly strengthening the Army's firepower,' the government said. The extra howitzers increase the total budget for the Norwegian 155 mm artillery project to 11.1 billion kroner, according to the government proposal. Other K9 operators in the Baltic region are Poland, Finland and Estonia. The government also plans to spend an additional 3.9 billion kroner on maritime mine countermeasures, increasing the total budget for that project to 8.74 billion kroner. The plan for the Norwegian Navy's future mine-clearing capability, first approved in 2023, will include unmanned and autonomous systems. The previously approved mine countermeasures capability was assessed as too small in relation to the operational needs of a new security situation, according to the government. Expanding the scope of the project will ensure sufficient resources to safeguard 'freedom of movement in Norwegian waters even in a crisis or war,' the government said. 'This will help to ensure that our own vessels and allies can sail safely and freely in Norwegian waters,' Sandvik said. 'In addition, it can help to secure critical underwater infrastructure.'
