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Urbanization and immigration to boost residential construction of Norway: Ken research

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Title: Urbanization and immigration to boost residential construction of Norway: Ken research


1
Urbanization and immigration to boost residential
construction of Norway Ken research
2
Norway is a sovereign and unitary monarchy
situated in the western portion of the
Scandinavian Peninsula. Its economy is a mixed
economy with state ownership in the strategic
areas. The economy is driven primarily by
abundance of natural resources, including
petroleum exploration and production,
hydroelectric power, and fisheries. Albeit the
state holds control over most of the major
industries, its economy is quite open and has a
high ranking on ease of doing business index. The
service sector dominates the economy, closely
followed by the manufacturing sector. Norway even
though is not a part of EU but is a part of its
single market i.e. EEA.
3
  • The nation is known for its very high standard of
    living and well integrated social welfare system.
    It has the sixth highest GDP (PPP) per capita in
    the world and ranks second in terms of wealth in
    monetary value. Norway also sees one of the
    highest hourly wage rate and productivity level.
    Further, the public healthcare is almost free.
    All the citizens have access to safe drinking
    water and most of them have access to proper
    sanitation facility. Thus, the nation has
    consecutively topped the Human Development index.
    The nation is said to be the most well
    functioning and stable country in the world.
  • Ken Research, a market research firm says, Norway
    is not a densely populated nation albeit has the
    highest fertility rate in Europe. The immigration
    is high and is responsible for majority of the
    population growth. The unemployment rate is
    notably lower than the global average and
    majority of the citizen live in urban areas. The
    country is comparatively peaceful and has a very
    low rate of homicide. The nation is also amongst
    the best educated countries.

4
However, recently due to fall in the prices of
global oil prices has jolted the economy. The
interest rate is going down and the currency has
deprecated, this has led to fall in the consumer
confidence as the people are saving more and
spending less on big ticket items. Research
report titles Residential Construction in Norway
to 2020 Market Forecast says, Norway
construction industry is set to expand in the
upcoming years as the government invests in the
transport infrastructure. Government is planning
to launch a series of infrastructure projects
under fourth National Transport Plan (NTP)
2014-2023. The rising population, rapid
urbanization and low unemployment will support
the market. The market will further be driven by
the introduction of new technologies in
infrastructure and construction industry However,
the sector will face certain risks due to the
increasing labor and construction costs,
relatively weak economic growth picture, slow
down in spending on oil infrastructure.
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  • In the 1950s the residential infrastructure
    construction market was driven by the high
    population growth in Norway but currently it is
    ruled by high net immigration. In 2014, the
    highest share in the construction industry was
    with the residential construction. One of the
    major challenges for this industry is presence of
    a big number of unoccupied dwellings and housing
    stock losses. Geographical factors impact the
    demand for housing all over the nation, as net
    internal migration increases the need for housing
    the central areas also rise.
  • Key Topics Covered in the Report
  • Norway Construction Industry Research Report
  • Norway Residential Construction Market
  • New Residential Projects Norway
  • Norway Construction Market Players
  • Norway Infrastructure Industry Trends
  • Norway Residential Construction Sector
  • Norway Real Estate Industry

6
Norway Construction Industry Future Outlook For
more coverage click on the link
below https//www.kenresearch.com/manufacturing-a
nd-construction/infrastructure/residential-constru
ction-norway/80495-97.html Related
links https//www.kenresearch.com/energy-and-util
ities/power/energy-utilities-infrastructure-constr
uction-norway/80493-103.html https//www.kenresea
rch.com/manufacturing-and-construction/infrastruct
ure/institutional-construction-norway/80494-97.htm
l
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Contact Us Ken Research Ankur Gupta, Head
Marketing Communications Ankur_at_kenresearch.com
91-9015378249
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