Norway: The Kingdom of Socialism and Natural Beauty

• Sweden and Norway: are they countries of socialism or not?

• Norway is a country of unique individuals.

• Property and tax obligations in Norway

• Sweden: Migration, Immigration, and Housing

• Buying real estate in Sweden: risks and prospects

Sweden and Norway: countries of socialism?

According to local residents, Sweden and Norway are examples of countries where the principles of socialism have been implemented. However, not all residents have access to a high level of social protection.

Norway: the land of the midnight sun

Norway is known as the 'Land of the Midnight Sun' and is attracted by its picturesque islands, fjords and archipelagos. The country has 56,000 kilometers of coastline and its exports are closely linked to oil, gas, fish and engineering.

History and achievements

Norwegians were closely connected to Denmark and Sweden in the past, and after gaining independence in 1905, they became a major oil producer thanks to the discovery of oil fields in the 1960s. The United Nations recognized Norway as the most prosperous country in the world in 2009.

Amazing nature

The nature of Norway varies from mountains to snowy valleys in the east, providing dense forests and rushing rivers with energy and raw materials for industry. Constitution Day is celebrated on May 17, and the capital and center of government is Oslo.

Norway is a country of unique and outstanding personalities

Here were born composer Edvard Grieg, researcher Erik the Red, and travelers Fridtjof Nansen, Roald Amundsen, and Thor Heyerdahl. Norway also gave the world Alexander Rybak, the winner of the Eurovision Song Contest. The architecture of Norway is characterized by simplicity and reliability, based on the traditions of quality construction using wood and stone.

Acquisition of real estate in Norway

Purchasing real estate in Norway is not a complicated process, but it requires careful consideration. Prices are high, but they correspond to the high quality of housing and the favorable climate. A country house in a Norwegian village can cost much more than in neighboring Finland.

Features of the Norwegian real estate market

The country is not a member of the European Union, which gives it the ability to control housing prices through state realtors. Transactions can be conducted without the involvement of lawyers, except for commercial real estate transactions. Purchased properties are registered in the central registry, and the realtor commission depends on the amount of the transaction and ranges from 1.2% to 3.1%, including VAT.

Purchasing property in Norway is a process that requires certain commitments from the buyer. The property owner must pay a deposit of 10% of the total purchase price, with the remaining balance to be paid after the transfer of ownership. Foreign citizens also need to obtain a temporary identification number in the municipal registry where the property is located. Buying agricultural or commercial real estate also requires special permission and the payment of a registration fee ranging from 750 to 15,000 Norwegian kroner. In addition to this, the buyer is obligated to pay a property acquisition tax of 2.5% of the purchase price, as well as a stamp duty of 2.5%.

Luxury tax and other obligations

In addition, owners of private vacation homes are required to pay a luxury tax of 2.5% of the property's value. This tax is also levied if the assessed value exceeds certain thresholds. For example, if it exceeds 200,000 Norwegian kroner, the tax will be 0.2%, and if it exceeds 540,000 kroner, it will be 0.4%. However, the primary residence is exempt from this tax. In the case of using the property for rental purposes, the income is taxed at a rate of 28%.

Real estate sales and tax exemptions

When selling real estate, taxes are not levied if the property has been owned for more than 5 years and has not been rented out. There are specific rules for primary residences - the property must have been owned for at least 12 months within the last two years. Foreigners from non-Scandinavian countries can stay in their Norwegian home for more than three months with permission.

Sweden: a country of immigration

Moving on to the study of Sweden, it is worth noting that this country has attracted a large number of foreign citizens after a period of emigration and has become a multicultural society. Regulated immigration since the 1960s has resulted in one in five citizens of Sweden having foreign origins, making its society dynamic and multinational.

Profit of migrants in Sweden

Migration from the Middle Eastern countries and the former socialist bloc to Sweden brings significant income. The situation with immigrants here is different from that in other European countries.