Selvaag Bolig ASA: Q3 2021: Sold 601 homes for NOK 3.1 billion in first nine months
Selvaag Bolig sold 147 homes worth NOK 731 million in the third quarter of 2021. Sales for the first nine months totalled 601 homes worth NOK 3 097 million. Adjusted for the group’s share of joint ventures, sales to 30 September were up by 13 per cent from the same period of 2020.
“As expected, housing sales were a little quieter in the third quarter,” reports Selvaag Bolig CEO Sverre Molvik.
“The summer figures were closer to normal than we have seen in recent years, while expectations of interest-rate rises also had an effect.“Nevertheless, we sold well in several projects and were therefore in a position to start construction of 148 homes.”
He says the company expects the housing market to be normally good in the time to come and that demand and price developments will be good in its priority areas.
“We also believe the Greater Oslo market will experience further pressure on prices and demand in the longer term because too little is being built in the city itself.
“In addition, we’re due to launch our first Pluss housing project in Trondheim during the fourth quarter. Many people have already expressed interest, and we expect good sales there,” Molvik says.
Net sales, adjusted for Selvaag Bolig’s share of joint ventures, came to 125 homes worth NOK 634 million in the third quarter, and 545 worth NOK 2 753 million for the first nine months.
The company started construction of 148 homes during the quarter, completed 318 and delivered 314 to the buyer. At 30 September, it had 1 201 homes under construction and 16 completed units which remained unsold.
Selvaag Bolig started construction of 424 homes during the first nine months, completed 533 and delivered 570 to the buyer.
Net sales for the third quarter of 2020 amounted to 178 homes worth NOK 910 million, while gross sales came to 209 homes with a combined value of NOK 1 104 million. Corresponding figures for the first nine months of last year were 483 homes worth NOK 2 450 million net, and 591 units with a combined value of NOK 3 085 million gross.
Further information from:
Sverre Molvik, CEO, Selvaag Bolig ASA
Telephone: +47 40 10 05 85, e-mail: smo@selvaagbolig.no
Kristoffer Gregersen, executive vice president communications and strategy, 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, Trondheim and Stockholm. Selvaag Bolig represents a continuation of Selvaag's 70-year history and experience. The company is headquartered at Ullern in Oslo.
This release was distributed by Kristoffer Gregersen, executive vice president communications and strategy Selvaag Bolig ASA.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.