Christie’s International Real Estate Strengthens Position in the Nordic Countries, with a New Affiliate in Norway

Regent Eiendomsmegling AS Joins Leading International Network of Real Estate Brokers Specializing in the Sales of High-value Properties

Oslo, Norway—Christie’s International Real Estate, the world’s leading luxury real estate network, has awarded Affiliate status to Regent Eiendomsmegling AS in Oslo, Norway. Regent Eiendomsmegling AS will exclusively represent the Christie’s brand in the top spectrum of the residential property market in Norway, including Oslo, Bærum, Bergen and Stavanger.

Wholly owned by Christie’s, the world’s leading art business, Christie’s International Real Estate is represented in more than 40 countries. Regent Eiendomsmegling AS joins this carefully selected organization of brokerages with proven records of success in both high-end property sales and exemplary client service.

Joachim Wrang-Widén, Director of Affiliate Services for Europe, Middle East, and Africa says, “We commenced our entry into the Nordic real estate markets by affiliating with Residence Fastighetsmäkleri in Sweden some three years ago and today we are delighted to welcome our second Affiliate in the Nordic countries, Regent Eiendomsmegling AS. The Norwegian real estate market has experienced value growth and there is a large volume of high-value real estate transacted on a regular basis. We believe that there is a growing international interest in buying Norwegian real estate as many luxurious properties are comparatively well-priced in an international context.”

“As a company and network we can provide private buyers and sellers with an additional service package as well as a global platform for transacting high-quality real estate. Many Norwegians own or would like to own real estate outside Norway and we can, as a global network, provide coverage through over 130 affiliates in over 40 countries globally. This new affiliation highlights our joined effort in assisting Norwegians transact luxury residential real estate internationally. Regent, a startup company, now has some 32,700 brokerage colleagues around the world – all specialists in luxury residential real estate, positioning the properties offered for sale in a global context and reaching those buyers that at present the indigenous local real estate community have difficulty accessing.” he adds

“Our affiliation with Christie’s International Real Estate adds a global stamp of distinction on the luxury home market in Norway.” says Øyvind Olstad, founder of Regent Eiendomsmegling AS. “We anticipate that this partnership will satisfy the lifestyle requirements of a discerning clientele both for international buyers looking for great investments in Norway as well as for Norwegians seeking fine luxury properties abroad.”

“Germans, Swedish, Danish and Russians have always been fond of Norwegian luxury properties. The luxury market segment priced between $USD 1-3 million has been very active lately with prices increasing by 10 % from 2010 to 2011 and by 7% between 2011 – 2012, prices are expected to further increase by 30% from 2011 to 2015.” He adds.

Norway, like Switzerland, isn’t a member of the European Union; its economy has been growing strong and makes up one of the world’s largest oil exporters. The government has no net debt and the biggest budget surplus of any AAA-rated nation thanks to a $600 billion sovereign-wealth fund. It has managed to avoid much of Europe’s sovereign-debt crisis with the government announcing in March 2012 that unemployment fell down to 2.7%. Norway’s wealth has attracted investors to its currency market, sending the krone to a continuous high and limiting the central bank’s scope to raise interest rates.

With a relatively small population of only 5 million when compared to the country’s size, Norway is a rich country both in terms of wealth as well as in natural beauty, its extensive coastline, facing the Atlantic is home to the famous fjords, numerous national parks and peerless landscapes.