Authored by the expert who managed and guided the team behind the Norway Property Pack
Everything you need to know before buying real estate is included in our Norway Property Pack
If you are thinking about buying a property in Norway, you probably want to know what is going on with current housing prices in Norway right now.
We constantly update this blog post with the freshest data we can find, so you always have the most recent picture of the Norwegian property market.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Norway.
So, is now a good time?
As of early 2026, buying property in Norway is a "rather yes" decision, meaning conditions are generally favorable but you need to be careful about where and what you buy.
The strongest signal supporting this is that supply is extremely tight because new home construction fell to its lowest level since the 1980s banking crisis, with only 11,000 homes started in 2023, and this shortage is now feeding into today's resale market.
Another strong signal is that Norges Bank has started cutting interest rates after holding them at 4.5% for 18 months, which is already boosting buyer confidence and borrowing power across Norway.
Other positive signals include a 6% national price growth forecast for 2026, record sales volumes in the second-hand market, and regional hotspots like Stavanger and Bergen showing double-digit gains.
The best strategy right now is to focus on apartments or townhouses in established neighborhoods of major cities like Oslo, Bergen, Stavanger, or Trondheim, either for your own use or for rental income, with a holding period of at least 5 years to ride out transaction costs.
This is not financial or investment advice, we do not know your personal situation, and you should do your own research before making any property decisions.
Is it smart to buy now in Norway, or should I wait as of 2026?
Do real estate prices look too high in Norway as of 2026?
As of early 2026, property prices in Norway appear to be about 10% to 15% above what fundamentals like incomes and rents would suggest is a "normal" level, which means the market is not wildly overvalued but it is not cheap either.
One clear on-the-ground signal that supports this view is that homes in Norway are selling above their asking price by an average of 3%, which tells you that buyers are still competing and the market is not showing signs of distress.
Another supporting signal is that average days on market in Norway has dropped to around 42 to 48 days nationally, with fast-moving cities like Stavanger and Bergen seeing homes sell in just 16 to 19 days, which indicates genuine demand rather than a market propped up by speculative activity.
You can also read our latest update regarding the housing prices in Norway.
Does a property price drop look likely in Norway as of 2026?
As of early 2026, the likelihood of a meaningful property price decline in Norway over the next 12 months is low, mainly because the structural undersupply of housing and strong regulatory framework make a crash unlikely without a major external shock.
The plausible downside-to-upside range for Norwegian property prices in 2026 is roughly minus 5% to plus 10%, with the base case leaning toward the positive end because supply constraints and rate cut expectations are tilting the balance toward buyers staying active.
The single most important macro factor that could increase the odds of a price drop in Norway is if mortgage rates stay high or rise again, because Norwegian households carry high debt levels and are very sensitive to borrowing costs.
Right now, this risk looks manageable because Norges Bank has signaled it may cut rates further during 2026, and most forecasters expect at least one or two more rate reductions if inflation keeps cooling.
Finally, please note that we cover the price trends for next year in our pack about the property market in Norway.
Could property prices jump again in Norway as of 2026?
As of early 2026, the likelihood of a renewed price surge in Norway is medium to high, because the combination of rate cuts, constrained supply, and strong buyer sentiment is creating conditions for prices to push higher in many regions.
The plausible upside price range for Norway in 2026 is around 6% to 10% nationally, with regional hotspots like Stavanger potentially seeing gains of 10% or more if current momentum continues.
The single biggest demand-side trigger that could drive prices to jump again in Norway is further interest rate cuts from Norges Bank, because even small reductions have an outsized impact on borrowing capacity and buyer confidence when the market is already tight.
Please also note that we regularly publish and update real estate price forecasts for Norway here.
Are we in a buyer or a seller market in Norway as of 2026?
As of early 2026, the Norwegian property market is slightly seller-leaning overall, meaning sellers have a bit more leverage than buyers, though this varies significantly by city and property type.
The typical time to sell a home in Norway is around 42 to 48 days nationally, but in high-demand areas like Stavanger and Bergen it can be as fast as 16 to 19 days, which is a clear sign that buyers in these markets need to move quickly and may have limited room to negotiate.
Price reductions on listings are relatively uncommon in Norway's most active markets, with homes typically selling at or above asking price by about 3%, which tells you that sellers are generally getting what they want and buyers should not expect big discounts.
We have made this infographic to give you a quick and clear snapshot of the property market in Norway. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Are homes overpriced, or fairly priced in Norway as of 2026?
Are homes overpriced versus rents or versus incomes in Norway as of 2026?
As of early 2026, Norwegian homes are moderately overpriced when you compare purchase costs to both rents and incomes, meaning you are paying a premium for ownership rather than getting a bargain, but it is not at extreme bubble levels.
The price-to-rent ratio in Norway's major cities suggests gross rental yields of around 3% to 4% in Oslo and 4% to 5% in Bergen, Trondheim, and Stavanger, which is below what most investors would consider ideal but in line with other expensive Northern European capitals.
The price-to-income multiple in Norway remains stretched compared to historical norms, with the OECD noting that Norwegian affordability is above pre-pandemic levels, meaning the average household needs more income to buy the same home than they did five years ago.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Norway.
Are home prices above the long-term average in Norway as of 2026?
As of early 2026, Norwegian property prices are estimated to be about 10% to 15% above their long-term trend based on income and rent fundamentals, though this is a moderate overhang rather than a fragile peak.
In the 12 months leading up to January 2026, Norwegian housing prices rose by approximately 6% in nominal terms, which is above the long-run pre-pandemic average of around 4% to 5% annual growth but not in bubble territory.
On an inflation-adjusted basis, Norwegian home prices remain well above their 1990s and early 2000s levels, though real price growth in 2025 was more modest at around 2% to 3% once you account for consumer price inflation.
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What local changes could move prices in Norway as of 2026?
Are big infrastructure projects coming to Norway as of 2026?
As of early 2026, the biggest infrastructure project likely to impact property prices in Norway is the Fornebubanen metro extension in the Oslo area, which is expected to support values along the Majorstuen-Skøyen-Lysaker-Fornebu corridor.
The Fornebubanen is currently under active construction with high activity levels reported in 2025, and completion is targeted for the late 2020s, which means neighborhoods like Skøyen, Lysaker, Vækerø, and nearby areas like Frogner and Ullern could see sustained demand as the project nears completion.
For the latest updates on the local projects, you can read our property market analysis about Norway here.
Are zoning or building rules changing in Norway as of 2026?
The most important "rule" story affecting Norwegian property prices in 2026 is not so much a single zoning change but rather the combination of complex permitting processes and high construction costs that have caused new home starts to collapse to 1980s levels.
As of early 2026, the net effect of Norway's slow permitting and limited buildable land is that prices in existing resale stock are likely to keep rising because new supply simply cannot keep pace with demand, especially in Oslo and other major cities.
The areas most affected are urban zones in Oslo, Bergen, and Stavanger where developable land is scarce and regulatory bottlenecks are most acute, pushing buyers into the second-hand market and intensifying competition for existing homes.
Are foreign-buyer or mortgage rules changing in Norway as of 2026?
As of early 2026, there are no significant changes to foreign-buyer rules in Norway, which remains one of the more open European markets for international purchasers, but mortgage rules continue to be the main constraint on how much Norwegians can borrow.
Norway does not impose nationality-based bans on buying ordinary residential property, though concession rules can apply to certain rural or agricultural properties, so most foreigners buying city apartments or standard homes face no special restrictions.
The key mortgage rule to watch is the "utlånsforskriften" (lending regulation), which caps debt at five times gross income, requires stress testing at higher rates, and limits high-LTV lending through flexibility quotas that banks must follow.
You can also read our latest update about mortgage and interest rates in Norway.
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.
Will it be easy to find tenants in Norway as of 2026?
Is the renter pool growing faster than new supply in Norway as of 2026?
As of early 2026, renter demand in Norway is growing faster than new rental supply because high borrowing costs are keeping many potential buyers in the rental market while new construction has fallen to historically low levels.
The clearest demand signal is that about one in ten rental listings has disappeared from the Norwegian market compared to previous years, according to data from the FINN platform, which shows that the pool of available rentals is shrinking.
On the supply side, new home completions are expected to remain weak through 2026 and into 2027 because of the construction slowdown that began in 2023, meaning landlords in major Norwegian cities can expect continued tenant demand for their properties.
Are days-on-market for rentals falling in Norway as of 2026?
As of early 2026, we do not have precise national days-on-market data for rentals in Norway the way we do for sales, but the best proxy indicators suggest that well-located rentals are letting faster than before, especially in Oslo and university cities.
In the best areas of Oslo, Bergen, and Trondheim, particularly near universities like UiO or NTNU, good rental properties often find tenants within 10 to 15 days during peak season, while less desirable locations or overpriced units can sit for several weeks.
The main reason rental absorption is strong in Norway is the combination of undersupply and affordability constraints that are keeping potential buyers in the rental pool longer than they planned, which benefits landlords with quality properties in good locations.
Are vacancies dropping in the best areas of Norway as of 2026?
As of early 2026, vacancy rates in the best-performing rental areas of Norway are very low and possibly still dropping, with Oslo's central neighborhoods like Grünerløkka, St. Hanshaugen, Frogner, and Majorstuen estimated at just 1% to 2% vacancy.
In the best areas of major cities, vacancy is significantly tighter than the national average of roughly 2% to 3%, while smaller towns and less connected suburbs may see vacancies of 4% to 5% as renters concentrate where jobs and amenities are.
A practical sign that the best areas are tightening first is that landlords in central Oslo, Bergen Sentrum, Trondheim Midtbyen, and Stavanger Våland are increasingly able to raise rents without losing tenants, because tenants know how few alternatives exist.
By the way, we've written a blog article detailing what are the current rent levels in Norway.
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Am I buying into a tightening market in Norway as of 2026?
Is for-sale inventory shrinking in Norway as of 2026?
As of early 2026, for-sale inventory in Norway has actually increased compared to last year, with new listings up by about 15% to 17% year-over-year, but this is being absorbed by even stronger buyer demand, so the market still feels tight.
We estimate that months-of-supply in the most active Norwegian markets is around 2 to 3 months, which is below the 5 to 6 months that typically indicates a balanced market, meaning sellers still have the upper hand in most places.
The main reason inventory feels tight despite more listings is that the collapse in new construction is pushing buyers into the second-hand market, where they are snapping up homes faster than new listings can replenish the stock.
Are homes selling faster in Norway as of 2026?
As of early 2026, the median time to sell a home in Norway is around 42 to 48 days nationally, which is relatively fast and indicates that the market is active with strong buyer interest across most regions.
Compared to a year ago, selling times have generally improved or held steady, with high-demand areas like Stavanger and Bergen seeing homes sell in just 16 to 19 days on average, while slower markets like Follo or parts of Eastern Norway can take 70 to 85 days.
Are new listings slowing down in Norway as of 2026?
As of early 2026, new listings in Norway are actually up significantly compared to last year, with year-to-date listings running about 15% to 17% higher than the same period in 2024, so the market is seeing more supply, not less.
Norway typically sees a seasonal surge in listings during January and February as sellers return after the holidays, and early 2025 data showed this pattern continuing with January being one of the strongest months for new listings in recent years.
The fact that more listings are coming to market but prices are still rising tells you that demand is absorbing this supply, which is a sign of underlying market strength rather than oversupply.
Is new construction failing to keep up in Norway as of 2026?
As of early 2026, new construction in Norway is clearly failing to keep pace with household demand, with only about 11,000 homes started in 2023, the lowest level since the banking crisis of the late 1980s, and completions now falling as a result.
Building permits and housing starts have been declining for several years, and the homes being completed in 2025 and 2026 reflect projects that were started during the downturn, meaning the supply crunch will persist until at least 2027 or 2028.
The biggest bottleneck limiting new construction in Norway is the combination of high financing costs for developers, slow municipal permitting processes, and limited buildable land in the cities where demand is strongest.
We made this infographic to show you how property prices in Norway compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Will it be easy to sell later in Norway as of 2026?
Is resale liquidity strong enough in Norway as of 2026?
As of early 2026, resale liquidity in Norway is strong for mainstream property types in major labor markets, meaning if you buy the right kind of home in the right place, you can expect to sell it without major difficulty when the time comes.
The median days-on-market for resale homes in Norway is around 42 to 48 days nationally, which compares favorably to a "healthy liquidity" benchmark of under 60 days and indicates that well-priced homes are finding buyers relatively quickly.
The property characteristic that most improves resale liquidity in Norway is location in an established, transit-connected neighborhood of Oslo, Bergen, Stavanger, or Trondheim, because these areas have deep buyer pools and consistent demand.
Is selling time getting longer in Norway as of 2026?
As of early 2026, selling time in Norway is not getting significantly longer on a national basis, and in some high-demand regions it has actually shortened, though there is variation depending on price segment and location.
The current median days-on-market in Norway is around 42 to 48 days, with a realistic range from as fast as 16 days in Stavanger to as slow as 70 to 85 days in less liquid areas like Follo or parts of Trøndelag.
One clear reason selling time can lengthen in Norway is if you are selling a high-priced detached home far from job centers or a property that needs significant renovation, because these segments are more sensitive to affordability constraints and financing costs.
Is it realistic to exit with profit in Norway as of 2026?
As of early 2026, the likelihood of exiting with a profit on Norwegian property is medium to high if you hold for at least 5 years, because transaction costs are significant and you need time for appreciation to outpace the costs of buying and selling.
The minimum holding period that typically makes exiting with profit realistic in Norway is around 4 to 6 years, which allows you to absorb transaction costs and benefit from at least one property cycle of appreciation.
Total round-trip costs in Norway, including broker fees, document duties, and other transaction expenses, typically run around NOK 150,000 to NOK 300,000 on an average home, which is roughly $15,000 to $30,000 or €13,000 to €26,000.
The factor that most increases profit odds in Norway is buying in a supply-constrained, high-demand neighborhood where both owner-occupier and investor interest is strong, because these areas tend to see the most consistent appreciation.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Norway, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Statistics Norway (SSB) House Price Index | Norway's official statistics agency and the source of record for housing data. | We used SSB's price indices to anchor our national price direction. We treated broker numbers as context, not the baseline truth. |
| Norges Bank Monetary Policy Report | Norway's central bank with official rate outlook used by markets. | We used Norges Bank's rate path and mortgage-rate assumptions to frame affordability. We assessed rate-cut tailwinds for 2026. |
| Norges Bank Policy Rate Decision | The definitive statement of the current policy rate as of the first half of 2026. | We used this as the anchor for where rates stand now. We translated it into likely mortgage-rate ranges for households. |
| Eiendom Norge Housing Statistics | The key industry statistics series used widely in Norway by brokers. | We used Eiendom Norge for market temperature, days-on-market, and regional price variations. We cross-checked direction against SSB. |
| Finanstilsynet (FSA Norway) | The financial regulator that sets binding lending constraints. | We used it to frame how hard it is to qualify for a loan in 2026. We assessed demand sensitivity to rates and rules. |
| SSB Building Statistics | Official supply-side pipeline data for permits, starts, and completions. | We used it to judge whether Norway can build its way out of price pressure. We supported claims about structural supply constraints. |
| SSB Rental Market Survey | Official rent levels by zones and size, the cleanest public rent data for Norway. | We used it to estimate rent levels and yield ranges. We cross-checked rent tightness with supply and demographics. |
| OECD Affordable Housing Database | Comparable international methodology for price-to-income valuation signals. | We used OECD's framework to discuss affordability norms. We used it as a second opinion against Norway-only sources. |
| OsloMet Housing Lab Bubble Index | Credible academic research with transparent public methodology. | We used it as a valuation stress-test for risk sizing. We did not treat it as a forecast, but as a risk indicator. |
| Oslo Municipality (Fornebubanen updates) | Official project owner for major Oslo-area transport investment. | We used it to identify place-specific demand catalysts. We applied it carefully to micro-markets, not national trends. |
| Norwegian Housing Construction Association (NBBL) | Industry body with monthly sentiment surveys and price forecasts. | We used NBBL's Housing Market Barometer for buyer confidence data. We incorporated their 6% price growth forecast for 2026. |
| Global Property Guide | Independent research platform with international comparison data. | We used it for rental yield benchmarks and historical price trends. We cross-referenced their data with official SSB figures. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Norway. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.