The new guidelines allow for grants to be used for general rehabilitation needs to upgrade existing student housing to meet modern standards.

• "This is something we’ve been advocating for a long time. Around 50% of our housing stock is older and due for modernization. With this grant, we now have the opportunity to give the older housing stock a much-needed boost while keeping rent at a level students can afford," says Rune Aasen, Managing Director.

The new guidelines will have a significant impact on the availability of student housing across the country. According to Husbanken's data, more than half of the nation’s student housing is over 30 years old, and over 7,000 of these units need upgrading by 2030. The new rules make it possible to upgrade many of these units with grant funding, instead of demolishing or selling them.

• "Here in Volda, a large part of the housing stock is over 50 years old. It’s great that we now have alternatives to building new where it makes sense," says Aasen.