A weak krone acts like a magnet. Foreigners are snapping up Norwegian cabins

The low krone exchange rate and the 'coolcation' trend (holidays in cooler climates) have boosted interest in Norway. The country has become attractively priced for people earning in euros. Last year, 563 holiday cabins were bought by foreign owners. That's more than twice as many as in 2017, when there were 268 transactions.

Historically, foreign buyers made up a marginal part of the market. The Norwegian cabin market was considered closed. However, new data shows a clear change. Foreigners now account for almost 8 percent of sales. This is the highest level in the history of measurements.

The most active buyers are Swedes and Danes, joined by Germans and Dutch. Foreign tourists also dominate the rental market. Between 75 and 80 percent of commercial overnight stays in cabins are by guests from other countries. Their increased presence is visible in many mountain regions.

Among the reasons cited is the low krone exchange rate. Norway has become a 'cheap country' for those with euros. The 'coolcation' trend—choosing cooler holiday destinations—also plays a role. Another factor is the stable snow conditions in the Norwegian mountains.

At the same time, high interest rates are limiting Norwegians' purchasing power. Households are facing high costs. Sales of used cabins in 2025 were 11.3 percent higher than the previous year. The average price is currently 2,945,961 kroner. The average price dropped by 0.9 percent, and only 14 percent of properties sold above the asking price.

Foreign buyers must obtain a d-number to purchase property in Norway. The procedure can take several months and is often cited as an administrative barrier. At the same time, a new model for valuing holiday cabins is set to be introduced in 2027. This change may affect taxation and the future activity of both domestic and foreign owners.