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Increasing cross-border ownership of real estate: Evidence from Norway

Author

Listed:
  • Annette Alstadsæter

    (NMBU and EU Tax Observatory)

  • Andreas Økland

    (NMBU)

Abstract

This paper is the first to estimate the full extent of foreign-owned commercial and residential real estate in a country, including both direct and indirect ownership. We utilise unique Norwegian administrative data with reliable market value estimates and country-level ownership information. Overall, 2 percent of Norwegian real estate assets were foreign-owned in 2017, while this share amounts to 10 percent for assets owned by Norwegian corporations. Foreign ownership has increased over the last decade, and ownership from tax havens even more rapidly. Ownership from neighbouring countries and Luxembourg is especially large.

Suggested Citation

  • Annette Alstadsæter & Andreas Økland, 2022. "Increasing cross-border ownership of real estate: Evidence from Norway," Working Papers 008, EU Tax Observatory.
    • Handle: RePEc:dbp:wpaper:008
    as

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    File URL: https://www.taxobservatory.eu//www-site/uploads/2022/12/EU-Tax-Observatory_WP8_ForeignOwners-NorwegianRealEstate_December2022.pdf
    File Function: Full working paper
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    More about this item

    Keywords

    Globalisation; Real estate; Foreign Ownership; Tax Havens;
    All these keywords.

    JEL classification:

    • R39 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance

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