|Real-time Estimate - 08/13 05:27:02 am|
Selvaag Bolig ASA: Sold 186 homes worth NOK 920 million in second quarter
|07/01/2020 | 01:01am|
"The market has been challenging but we sold well given the circumstances, especially in the
"Our campaigns have done well, and the market improved towards the end of the quarter. We're optimistic about further market progress.
"The need for housing is as high as it was before, but fewer homes have been made available for sale and interest rates are down. That could increase demand and raise prices."
Net sales, adjusted for
During the quarter,
"The number of homes we have under construction has declined because we've started work on fewer units than we've completed. We expect to bottom out at 1 100-1 200 homes in production at 31 December, with this volume gradually rising again as the market normalises," says CFO
"The reduction reflects both market conditions and our desire to restrict the number of unsold homes under construction in these uncertain times."
In the first half, the company began construction of 46 units, completed 193 and delivered 235 to the buyer.
Net sales for the second quarter of 2019 amounted to 210 homes worth a combined
During first half of last year,
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