Andelsleilighet (cooperative flat)

An andelsleilighet is a flat in a borettslag. You buy a share (andel) in the cooperative that gives you the right to live in a specific flat, while the cooperative owns the building itself. A share is not real property, so you are exempt from the 2.5 percent dokumentavgift and pay only a small transfer fee. In return the flat may carry fellesgjeld that you pay your part of through the felleskostnader, so always reckon the total price as the purchase price plus your share of the joint debt. Check the cooperative’s finances, the felleskostnader and whether there is forkjopsrett before you bid.