Selvaag Bolig ASA: Q1 2021: Sales record for Selvaag Bolig

Selvaag Bolig sold 274 homes worth NOK 1 431 million in the first quarter of 2021. In terms of value, these represent the best sales in a first quarter and the second-best for any quarter in the company’s history.

“Sales were very good in the first quarter,” says Selvaag Bolig CEO Sverre Molvik. “Demand has been high in all the markets where we operate, but particularly in the outskirts of Oslo.

“This reflects the fact that we have good products in the right place and factors such as low interest rates on residential mortgages and insufficient newbuilding in Oslo.

“We’ve sold well in projects already under construction and also had successful sales starts. Demand has been particularly high for our Pluss units, which are homes with shared areas and services.”

Net sales in the first quarter, adjusted for Selvaag Bolig’s share of joint ventures, came to 248 homes worth NOK 1 242 million. The company started construction of 139 homes during the quarter, completed 95 and delivered 124 to the buyer.

At 31 March, Selvaag Bolig had 1 349 homes under construction and 17 completed units which remained unsold.

Net sales for the first quarter of 2020 amounted to 164 homes worth NOK 840 million, while gross sales came to 196 units with a combined value of NOK 1 031 million.

Further information from:
Sverre Molvik, CEO, Selvaag Bolig ASA
Telephone: +47 40 10 05 85, e-mail: smo@selvaagbolig.no

Kristoffer Gregersen, vice president communications and market, Selvaag Bolig ASA
Telephone: +47 95 77 55 93, e-mail: kgr@selvaagbolig.no

Selvaag Bolig ASA is a residential property developer controlling the entire value chain from acquisition of land to sale of homes. The company has several thousand homes under development at any given time, and focuses on the growth areas in and around Greater Oslo, Bergen, Stavanger and Trondheim. Selvaag Bolig represents a continuation of Selvaag's 70-year history and experience. The company is headquartered at Ullern in Oslo.
www.selvaagboligasa.no/en
 

This release was distributed by Kristoffer Gregersen, executive vice president communications Selvaag Bolig ASA.