Authored by the expert who managed and guided the team behind the Norway Property Pack
Yes, the analysis of Oslo's property market is included in our pack
Oslo's apartment market is one of Europe's most expensive, with average prices reaching NOK 106,000 per square meter in the city center as of June 2025.
The Norwegian capital continues to experience strong price growth, with some neighborhoods seeing increases of up to 8.4% in recent quarters, driven by limited supply and robust demand from both locals and international buyers.
If you want to go deeper, you can check our pack of documents related to the real estate market in Norway, based on reliable facts and data, not opinions or rumors.
Oslo apartment prices average NOK 106,000 per sqm in central areas and NOK 80,000 per sqm in outer districts, with luxury neighborhoods like Frogner and Aker Brygge commanding over NOK 200,000 per sqm.
Total purchase costs including taxes and fees add approximately 5-6% to the property price, while monthly ownership costs typically range from NOK 35,000-45,000 for a standard apartment.
| Neighborhood Type | Price per Sqm (NOK) | 2-Bedroom Apartment Price |
|---|---|---|
| Luxury Central (Frogner, Aker Brygge) | 200,000 - 300,000+ | 12-16 million |
| Central (Grünerløkka, St. Hanshaugen) | 100,000 - 150,000 | 6-8 million |
| Mid-range (Løren, Sørenga) | 80,000 - 120,000 | 5-7 million |
| Affordable (Stovner, Grorud) | 60,000 - 80,000 | 3-4 million |
| City Center Average | 106,000 | 7-9 million |
| Outside Center Average | 80,000 | 5-6 million |
What are the current average apartment prices in Oslo by neighborhood?
Oslo's apartment market shows dramatic price variations across different neighborhoods, with premium central districts commanding prices that can be three times higher than outer areas.
The most expensive neighborhoods include Frogner, Aker Brygge, and Tjuvholmen, where luxury apartments regularly sell for over NOK 100,000 per square meter, with exceptional waterfront properties sometimes exceeding NOK 300,000 per sqm. Majorstuen also commands similar premium prices due to its luxury boutiques and proximity to the city center.
Fast-growing neighborhoods like Grünerløkka, St. Hanshaugen, and Tøyen are experiencing strong appreciation, with St. Hanshaugen seeing a 4.8% price increase in 2024 alone. These areas appeal to young professionals seeking vibrant cultural scenes and central locations. Emerging areas like Løren and Sørenga are gaining momentum with new eco-friendly developments and improved infrastructure.
The most affordable options are found in northeastern neighborhoods like Stovner, Grorud, and Bjerke, which offer significantly lower prices per square meter while maintaining good public transport connections to the city center.
As we reach mid-2025, these price differentials reflect Oslo's continued urban development and the ongoing gentrification of formerly industrial areas.
How do prices differ between apartment types like studio, 1-bedroom, 2-bedroom, and penthouse units?
Apartment prices in Oslo vary significantly by size and type, with larger units commanding exponentially higher prices in premium locations.
Studio apartments represent the entry point into Oslo's property market, but even these compact 30-40 sqm units often exceed NOK 3 million in central areas. One-bedroom apartments typically range from NOK 4-6 million in central locations, depending on the specific neighborhood and building quality.
Two-bedroom apartments in central Oslo generally cost between NOK 6-10 million, making them the sweet spot for many buyers seeking both investment potential and livability. The price jump to larger units becomes more pronounced in premium neighborhoods.
Penthouse and luxury units represent the top tier of the market, with properties in Frogner, Aker Brygge, or Tjuvholmen easily exceeding NOK 15 million. Some new luxury developments feature penthouses priced above NOK 30 million, particularly those with panoramic city or fjord views.
It's something we develop in our Norway property pack.
What is the typical price per square meter for apartments in central vs outer areas of Oslo?
The price per square meter in Oslo shows a clear geographical divide between central and outer districts, reflecting the premium placed on location and accessibility.
Central Oslo averages about NOK 106,000 per square meter, making it one of Europe's most expensive urban real estate markets. This price reflects the convenience of walking distance to major employers, cultural attractions, and transportation hubs.
Outside the city center, average prices drop to approximately NOK 80,000 per square meter, offering more value for buyers willing to commute or accept a more suburban lifestyle. However, these outer areas still maintain good public transport connections to central Oslo.
Luxury and waterfront properties in premium central locations can command NOK 200,000-300,000 per sqm or more, particularly for new developments with exceptional views or amenities. These prices represent the absolute peak of Oslo's residential market.
The 25,000 NOK per sqm difference between central and outer areas represents significant savings for buyers, often allowing them to purchase 30-40% more space for the same budget.
What are the total purchase costs including fees, registration, taxes, and closing costs for apartments in Oslo?
Buying an apartment in Oslo involves several additional costs beyond the purchase price that buyers must factor into their total investment.
| Cost Type | Rate/Amount | Example (NOK 5M apartment) |
|---|---|---|
| Dokumentavgift (Stamp Duty) | 2.5% of purchase price | NOK 125,000 |
| Real Estate Agent Fees | 1-2.5% + 25% VAT | NOK 125,000 total |
| Legal and Registration | Fixed amount | NOK 10,000-30,000 |
| Notary Fees | Variable | NOK 5,000-15,000 |
| Mortgage Setup | Bank dependent | NOK 5,000-10,000 |
| Total Additional Costs | ~5.5% of purchase | NOK 270,000-305,000 |
How have average apartment prices in Oslo changed over the past 1 year and 5 years?
Oslo's apartment market has demonstrated remarkable resilience and growth, particularly recovering strongly from the 2022-2023 correction period.
Over the past year, Oslo apartment prices have increased by 2.5-8.4%, depending on the specific quarter and measurement methodology. The most recent data from late 2024 to early 2025 shows particularly strong quarterly growth, with some periods reaching 8.4% for existing dwellings in the Oslo region including Bærum.
Looking at the five-year trajectory, Oslo prices have shown significant fluctuation but maintained a strong upward trend overall. After experiencing a correction in 2022-2023, the market rebounded powerfully in 2024 with a 6.9% national increase, with Oslo consistently outperforming the national average.
This performance reflects Oslo's position as Norway's economic center, continuing to attract both domestic and international investment despite high absolute price levels. The combination of limited new supply and robust demand from a growing urban population continues to drive appreciation.
As of June 2025, the market momentum appears to be sustaining, with most analysts expecting continued growth through the remainder of the year.
Don't lose money on your property in Oslo
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What are the price forecasts for apartments in Oslo over the next 1 year, 5 years, and 10 years?
Oslo's apartment market forecasts suggest continued growth across all time horizons, though at varying rates depending on economic conditions and policy changes.
For the next year through 2026, most analysts predict apartment price increases of 2.5-7%, reflecting continued strong fundamentals despite some economic uncertainty. This growth rate suggests a more moderate pace compared to the exceptional gains seen in 2024.
Over the next five years, cumulative price growth of 10-15% is expected over the next three years, with similar or slightly lower annualized rates likely through 2030. This represents steady appreciation that outpaces inflation while remaining sustainable for the broader economy.
Ten-year forecasts suggest continued long-term growth driven by population growth, ongoing urbanization, and limited new supply relative to demand. However, the pace may moderate compared to the past decade as prices reach higher absolute levels and affordability becomes more challenging.
These projections assume continued economic stability and no major policy changes affecting foreign investment or housing supply, making Oslo an attractive long-term investment destination.
What are some concrete examples of actual apartment sale prices in Oslo across different areas and property types?
Real transaction examples provide the clearest picture of what buyers can expect to pay across Oslo's diverse neighborhoods and property types.
In trendy Grünerløkka, a typical 1-bedroom apartment of 45 sqm sells for NOK 4.5-5.5 million, while a 2-bedroom of 65 sqm commands NOK 6-8 million. These prices reflect the area's popularity with young professionals and strong rental demand.
Premium neighborhoods like Frogner and Aker Brygge command significantly higher prices, with 1-bedroom apartments of 50 sqm selling for NOK 7-9 million, and 2-bedroom units of 80 sqm reaching NOK 12-16 million. Luxury penthouses in these areas regularly exceed NOK 30 million.
More affordable options exist in outer neighborhoods like Stovner and Grorud, where a 2-bedroom apartment of 70 sqm typically sells for NOK 3-4 million, offering substantial savings for budget-conscious buyers.
It's something we develop in our Norway property pack.
Which neighborhoods in Oslo are currently considered the most expensive, the most affordable, and the most up-and-coming for buying apartments?
Oslo's neighborhood hierarchy reflects distinct investment opportunities across different price points and growth trajectories.
| Category | Neighborhoods | Key Characteristics |
|---|---|---|
| Most Expensive | Frogner, Aker Brygge, Tjuvholmen, Majorstuen | Luxury amenities, waterfront, international appeal |
| Most Affordable | Stovner, Grorud, Bjerke | Good transport, family-friendly, value pricing |
| Up-and-Coming | Løren, Sørenga, Tøyen | New developments, gentrification, infrastructure growth |
| Trendy/Established | Grünerløkka, St. Hanshaugen | Young professionals, culture, steady appreciation |
| Emerging Investment | Økern, Hasle | Industrial conversion, transit improvements |
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Norway versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
What are the smartest apartment investment options in Oslo right now depending on whether I want to live, rent out short-term, rent out long-term, or flip later?
Different investment strategies require targeting specific neighborhoods and property types to maximize returns and minimize risks.
For owner-occupants seeking lifestyle and long-term value, central neighborhoods like Grünerløkka, St. Hanshaugen, or Frogner offer the best combination of daily convenience and appreciation potential. These areas provide walkable access to employment centers and cultural amenities.
Short-term rental investors should focus on Frogner, Aker Brygge, or Tjuvholmen, where international business travelers and tourists pay premium nightly rates. However, investors must carefully research local regulations governing short-term rentals.
Long-term rental strategies work well in Grünerløkka, Tøyen, or Løren, where steady demand from young professionals and students provides reliable rental income. These areas offer good transport connections and lifestyle amenities that tenants value.
Property flipping opportunities are strongest in up-and-coming areas like Løren, Tøyen, or emerging districts where new developments and infrastructure improvements are driving rapid price appreciation.
Each strategy requires different holding periods and risk tolerances, making proper due diligence essential before committing capital.
What are the typical monthly ownership costs for an apartment in Oslo, including mortgage, insurance, HOA, and utilities?
Monthly ownership costs in Oslo represent a significant ongoing financial commitment that buyers must carefully budget for beyond the initial purchase price.
Mortgage payments form the largest component, with a NOK 5 million loan at current 5% interest rates over 25 years requiring approximately NOK 30,000 monthly in principal and interest payments. This assumes the standard minimum 10% down payment.
Home insurance typically costs NOK 500-1,500 per month, depending on the property value, coverage level, and specific insurer. Higher-value properties in central locations generally require more expensive coverage.
HOA fees (Borettslag/Fellesutgifter) represent a substantial ongoing cost, typically ranging from NOK 3,000-8,000 monthly for central Oslo apartments. These fees cover building maintenance, utilities, and sometimes internet services.
Additional utilities not covered by HOA fees usually cost NOK 1,000-2,000 monthly, though many Oslo apartments include most utilities in their HOA fees.
Total monthly ownership costs typically range from NOK 35,000-45,000 for a standard apartment, making affordability a key consideration for potential buyers.
How does buying an apartment in Oslo compare to similar-sized European cities like Copenhagen, Stockholm, Helsinki, or Amsterdam in terms of pricing and returns?
Oslo's position among European capitals shows both advantages and challenges for international property investors.
| City | Price per Sqm (City Center) | Rental Yield | Market Characteristics |
|---|---|---|---|
| Oslo | NOK 106,000 (€9,500) | 3.3-3.6% | High prices, stable demand |
| Stockholm | NOK 118,000 (€10,500) | 3.5-4.0% | More expensive, strong rental market |
| Copenhagen | NOK 92,000 (€8,200) | 3.0-3.5% | Slightly cheaper, similar quality |
| Helsinki | NOK 93,000 (€8,300) | 3.5-4.2% | More affordable, stable market |
| Amsterdam | NOK 108,000 (€9,600) | 3.2-3.8% | Similar to Oslo, high demand |
What mortgage conditions can you typically get in Norway for buying an apartment, and how do they affect total cost of ownership?
Norwegian mortgage conditions reflect the country's conservative banking regulations and strong economy, creating both opportunities and constraints for property buyers.
The minimum down payment requirement is 10% of the purchase price, though many buyers choose to put down 15-20% to secure better interest rates and avoid additional fees. Current interest rates range from 4.5-5.5% for fixed-rate mortgages, depending on the term and borrower qualifications.
Loan terms can extend up to 30 years, though 25 years is the standard choice for most borrowers. Longer terms reduce monthly payments but increase total interest costs significantly over the life of the loan.
The combination of high interest rates and substantial down payment requirements increases the total cost of ownership considerably. However, expected price appreciation helps offset financing costs over time, making property ownership financially viable for qualified buyers.
Foreign buyers face additional scrutiny and may need to demonstrate stronger financial positions, including higher income levels and larger down payments to qualify for Norwegian mortgages.
It's something we develop in our Norway property pack.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Oslo's apartment market represents one of Europe's most expensive but stable real estate investment opportunities, with strong fundamentals supporting continued long-term growth.
While entry costs are substantial and ongoing ownership expenses are high, the combination of limited supply, robust demand, and Norway's economic stability makes Oslo apartments attractive for both owner-occupants and investors with appropriate budgets and time horizons.
Sources
- Hotels in Oslo - Tjuvholmen Aker Brygge Most Expensive Area
- Veridian Analyse - Oslo Strong Housing Price Projections
- Roomless Rent - Living in Oslo Complete Guide
- InvestRopa - Oslo Price Forecasts
- InvestRopa - Oslo Which Area
- Numbeo - Cost of Living Regional Prices
- Numbeo - Property Investment in Oslo
- Statistics Norway - Price Index for Used Housing
- Global Property Guide - Norway Home Price Trends
- DNB - Home Mortgages