Norway has drastically increased its purchases in foreign real estate over the past few years. They have became the 2nd largest investor in U.S. real estate investor as of 2015. Norway’s pension fund has spent $7.6 billion of their $874 billion on real estate in foreign countries. Their pension fund is “the world's largest sovereign-wealth fund” and this allows Norway to out spend the rest of the countries (Pirolo and Hovland). The goal of the pension fund is to diversify the holdings, while being moderately risky. They are looking to boost their real estate holdings 3.7% over the next few years.

 

In April their sovereign wealth fund purchased warehouses in 17 states for $5.9 billion (Walsgard and Treloar). In September they purchased two commercial properties in Manhattan for $3.2 billion. They are investing heavily in the U.S. real estate market because it tends to be more stable then other countries such as China. U.S. real estate is still seen as a less risky alternative even after the collapse of the real estate market in 2007-2008. Norway’s rapid accumulation of property has been criticized by some who believe there is another U.S. real estate bubble forming, but this has not slowed down the rapid acquisition of property.