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Where are the best places to invest in Norway right now? Is Oslo still the top pick, or are cities like Bergen, Trondheim, and Stavanger gaining ground? What makes these locations attractive to both local and foreign investors?
We’re often asked these questions because we work directly with notaries, real estate agents, and clients who invest across the country. Our firsthand experience in these markets gives us unique insights into where the real opportunities lie. To save everyone from asking privately, we’ve written this article to share our knowledge broadly.
Our goal is to highlight the hottest markets in Norway and explain why they’re worth your attention in 2025.
If you have suggestions or want us to dive deeper into a specific area, let us know. You shoot an email, we answer within 24 hours.
1) Stavanger is seeing rising demand for housing as the oil industry rebounds
Stavanger's real estate market is buzzing, thanks to the revival of the oil industry.
In 2024, house prices in Stavanger saw a 12.5% jump, one of the biggest in Norway. This surge is largely due to the influx of people moving for oil sector jobs, creating a hot demand for homes. Even Eiendom Norge expects a 7% rise in house prices for 2024, underscoring the market's strength.
Homes are flying off the market, often selling in just 27 days. This quick turnover is a clear sign of high demand, driven by the oil industry's comeback and the job opportunities it brings. The short-term rental market is also thriving, with high occupancy rates showing strong interest in the area.
Stavanger's appeal isn't just about jobs; it's about lifestyle too. The city offers a unique blend of urban living and natural beauty, making it a magnet for newcomers. The oil industry's rebound has not only boosted the economy but also enhanced the city's vibrancy.
Local real estate agents are seeing more interest from both domestic and international buyers. This diverse interest is adding to the competitive market, with many looking to invest in Stavanger's promising future.
As the oil industry continues to thrive, the ripple effect on housing is undeniable. The demand for homes is expected to remain strong, keeping the market lively and competitive.
Sources: Eiendom Norge, Airbtics, Eiendom Norge
2) Sandnes is gaining interest for its cheaper housing and closeness to Stavanger
Sandnes is becoming a popular choice for homebuyers due to its affordable housing options compared to Stavanger.
In early 2023, while rental prices in Stavanger jumped by 14.3%, Sandnes saw a modest increase of just 1.7%. This makes Sandnes a more budget-friendly option for those looking to rent. The proximity to Stavanger means you can enjoy the benefits of a larger city without the hefty price tag.
The Smart City Stavanger initiative is a game-changer, enhancing the connection between these two cities. By integrating energy, mobility, and ICT solutions, it’s now easier than ever to live in Sandnes and work in Stavanger. This seamless connectivity is making Sandnes an attractive residential area.
One standout development in Sandnes is the Rovik Brygge project, featuring three new apartment buildings. This project is not just about providing homes; it’s about creating a vibrant community. The overwhelming response to Rovik Brygge shows that people are eager to move to Sandnes, drawn by its affordability and proximity to Stavanger.
Living in Sandnes offers a unique blend of small-town charm and big-city convenience. With new housing projects and improved connectivity, it’s no wonder more people are choosing Sandnes as their home base.
For those considering a move, Sandnes provides a compelling mix of lower living costs and easy access to Stavanger’s job market. It’s a smart choice for anyone looking to balance affordability with opportunity.
Sources: Statista, Stavanger Kommune, Nordic Property News
One of our partners sent us this video where we can observe Sandnes’ strategic location and its growing real estate market, including various housing options that connect it to Stavanger. [2]
3) Tønsberg is a hotspot with its coastal charm, history, and growing economy
Tønsberg is quickly becoming a hot spot for property buyers.
Over the years, Tønsberg has seen its population grow from 42,652 in 2000 to 59,174 in 2023, showing a vibrant community that's drawing in new residents. This growth is a testament to the city's appeal and the opportunities it offers for those looking to settle in a lively environment.
The local economy is thriving, thanks to factors like high wage growth and stable interest rates. These economic conditions have boosted household purchasing power, making Tønsberg an attractive place for both living and investment. The region's economic stability is a key reason why more people are considering making Tønsberg their home.
Tourism is another big draw for Tønsberg. The city had a record-breaking summer in 2023, with a surge in foreign visitors. This influx not only boosts the local economy but also highlights Tønsberg's coastal charm, making it a desirable destination for tourists and potential residents alike.
With its rich history and stunning coastal location, Tønsberg offers a unique blend of old-world charm and modern living. The city's historical sites and beautiful landscapes are a major attraction, adding to its growing reputation as a sought-after market.
As the local economy continues to grow, Tønsberg's appeal is only set to increase. The combination of economic stability, population growth, and tourism makes it a prime location for those looking to invest in property. The city's future looks bright, with more people recognizing its potential as a great place to live and invest.
Sources: City Population, Nordea, SSB
4) Kristiansand is gaining interest with its vibrant cultural scene and growing university presence driving property prices up
Kristiansand's property prices are on the rise, largely due to its vibrant cultural scene and expanding university presence.
The University of Agder is a key player in this trend, with 14,096 students enrolled as of 2023. This growing student population is driven by the university's expansion into diverse fields like Liberal Arts, Social Sciences, Computer Science, and Engineering. More students mean increased demand for housing, naturally pushing property prices up.
On the cultural front, Kristiansand is buzzing with activities that attract both locals and tourists. The city hosts free weekly concerts during the summer, drawing crowds and adding to its cultural vibrancy. This lively atmosphere makes Kristiansand an attractive place to live, further fueling the housing market.
Adding to the city's appeal is the Kristiansand Zoo and Amusement Park, the largest in Norway, which receives over 900,000 visitors annually. This influx of visitors boosts the local economy and increases the demand for housing, as more people are drawn to the area for its lively cultural scene.
In March 2024, property prices in Kristiansand saw a notable 0.4% rise, marking the fourth consecutive year of growth. This consistent increase highlights a clear trend in the property market, making it an attractive option for potential buyers.
With its expanding university and vibrant cultural offerings, Kristiansand is becoming a hotspot for those looking to invest in property. The combination of educational opportunities and cultural attractions makes it a unique and appealing place to call home.
Sources: Statista, EduRank, Wikipedia
5) Ålesund is gaining appeal with its scenic beauty and robust local economy, attracting investors and homebuyers
Ålesund's stunning landscapes and lively city life make it a top choice for investors and homebuyers.
What really sets Ålesund apart is its thriving local economy, thanks to its world-leading marine and maritime industries. This success is driven by a strong partnership between research institutions, the private sector, and the local community, creating a dynamic economic environment. The city's economy is further bolstered by Norway's low unemployment rate, which was just 2.1% in November 2024, providing a stable foundation for investment.
Government investments in sustainable urban development projects, like the transformation of the Sørsida waterfront district, are enhancing Ålesund's infrastructure and livability. These projects aim to create a sustainable and accessible urban environment, boosting Ålesund's appeal even more. The city's commitment to sustainability is evident in these initiatives, making it an attractive place for those looking to invest in a forward-thinking community.
In recent years, Ålesund has seen rising property prices, a clear sign of growing demand for housing. This trend, along with increased new home sales, suggests that more people are interested in making Ålesund their home. The city's status as a major hub for tourism, with significant contributions from cruise ships, supports local businesses and adds to its attractiveness as a place to live and invest.
Ålesund's picturesque setting and strong local economy are not just drawing in investors; they're also making it a desirable place for homebuyers. The city's unique charm, combined with its economic strength, creates a compelling case for those looking to invest in property. With its vibrant community and commitment to sustainable development, Ålesund is a city that offers both beauty and opportunity.
Sources: City Population, Re-Value Cities, Norges Bank
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6) Drammen is gaining interest with urban renewal projects and better infrastructure drawing new residents
Drammen is quickly becoming a hot property market, and there's a lot to know about why this is happening.
One big reason is the rising property prices, which show that more people are eager to move here. This isn't just happening in Drammen; it's a trend in other Norwegian cities too, where better amenities and infrastructure are making urban areas more attractive.
The city is pouring resources into urban renewal projects, with a bold goal of achieving climate neutrality by 2030. These projects focus on boosting green energy, cutting down traffic emissions, and using nature-based solutions. This not only makes Drammen more sustainable but also more inviting for newcomers.
Major infrastructure upgrades are another draw. Drammen has enhanced its public transport and rolled out smart city features like smart bathing spaces and environmental monitoring. These changes have greatly improved the quality of life, making the city a more appealing place to settle down.
With these ongoing developments, Drammen is transforming into a vibrant urban hub. The city's commitment to sustainability and innovation is evident in its efforts to reduce its carbon footprint and create a greener environment.
As Drammen continues to evolve, it's clear that the city's strategic investments are paying off. The combination of improved infrastructure and urban renewal projects is attracting a wave of new residents eager to be part of this dynamic community.
Sources: Drammen's Pilot City Activity: Zero emission 2030, Smart-City Solutions Burnish Drammen's Industrial Image, Quality of Life Index in Norway
7) Fredrikstad is gaining popularity as a commuter town for Oslo workers
Fredrikstad is becoming a hot spot for commuters working in Oslo.
One big reason is the rising property prices in Østfold county, where Fredrikstad is located. People are looking for more affordable homes outside of Oslo, and Fredrikstad fits the bill. This growing interest is making Fredrikstad a sought-after area for those who want to escape the high costs of the capital.
There's also been a noticeable increase in property transactions in Østfold. More folks are buying homes here, likely drawn by Fredrikstad's appeal as a commuter town. Real estate agents are buzzing about the demand, and Fredrikstad is definitely on their radar.
Transportation is another key factor. While we don't have all the specifics, the general trend in Norway shows improved public transport links between Fredrikstad and Oslo. This makes commuting a breeze, encouraging more people to live in Fredrikstad while working in the city.
Norway's population growth stats hint at a shift, with more people moving to regions like Fredrikstad. Although exact numbers for Fredrikstad aren't detailed, the trend is clear. People are drawn to the perks of living in a commuter town, like lower living costs and a better quality of life compared to Oslo.
Sources: Statista, Global Property Guide, SSB, Newsec Property Outlook, SSB
8) Lillestrøm is booming with rising property values thanks to its proximity to Oslo and excellent transport links
Lillestrøm is seeing a significant rise in property values thanks to its closeness to Oslo.
Living in Lillestrøm offers the best of both worlds: proximity to Oslo's bustling city life and the charm of a quieter community. Many people working in Oslo are choosing to live in Lillestrøm, which is driving up demand and, consequently, property prices. This trend is making Lillestrøm a hot spot for potential homebuyers.
One of the biggest draws is Lillestrøm's excellent transport connections. It's a major hub for public transport, with all north- and eastbound trains from Oslo stopping here, including the Airport Express Train. This makes commuting to Oslo a breeze, adding to Lillestrøm's appeal. The efficient transport system has cut down travel times, which is a huge plus for those working in the city.
Lillestrøm is not just about convenience; it's also about lifestyle. The area around the Trade Fairs is being transformed into a lively gathering spot, with new businesses and amenities popping up. This development is enhancing the area's livability, making it even more attractive to potential buyers.
Strategic urban planning is playing a crucial role in this transformation. By focusing on improving infrastructure and building around transportation hubs, Lillestrøm is setting itself up for continued growth. This approach is expected to further increase property values in the area.
With all these factors in play, Lillestrøm is becoming a sought-after location for those looking to invest in property. Its combination of convenience, lifestyle, and strategic growth makes it a compelling choice for homebuyers.
Sources: Europan Europe, Eiendom Norge, City Population
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.
9) Moss is attracting interest for its coastal charm and new railway connection to Oslo
Moss is gaining popularity due to its coastal charm and the recent completion of the new railway line to Oslo.
Imagine waking up to the sound of waves and the sight of the sea; that's the everyday life in Moss. Its picturesque landscapes and easy access to the coast make it a dream for those seeking peace and natural beauty. The town's charm is undeniable, drawing in people who want a serene environment.
But it's not just the scenery that's pulling people in. The new railway line to Oslo has been a game-changer. This development has drastically cut down travel time to the capital, making Moss a top choice for commuters. Now, you can enjoy the tranquility of Moss and still have a quick commute to Oslo for work.
With this improved connectivity, Moss is seeing a boom in property sales. While specific numbers aren't available, the trend is clear: property prices are on the rise. This mirrors what happens in other areas with new infrastructure, where demand tends to spike.
Local real estate agents are buzzing about the increased interest in Moss. They report a noticeable uptick in demand for housing, which is a strong indicator of the town's growing appeal. It's becoming a hotspot for those looking to escape the hustle and bustle of city life without sacrificing convenience.
Sources: Eiendom Norge, Global Property Guide, Fifty Degrees North
10) Tromsø is gaining attention for its Arctic research hub status and growing tourism
Tromsø is quickly becoming a hotspot for property buyers thanks to its growing reputation in Arctic research and tourism.
With its many Arctic research institutions, Tromsø is a magnet for professionals and students, boosting the demand for housing. The city is not just about work; it's also about lifestyle. Improved infrastructure, like enhanced transportation and public amenities, makes living here even more appealing.
Tourism is booming as more people flock to Tromsø for its stunning natural beauty and vibrant cultural events. This surge in visitors is pushing up prices for short-term rentals, giving the local property market a significant lift. New developments, such as the upcoming Citybox hotel, are making the city more accessible and attractive to travelers.
In 2025, property prices in Tromsø are expected to rise by 3% to 7% due to high demand and limited housing supply. This trend is fueled by the city's dual appeal as both a research hub and a tourist destination.
As Tromsø continues to grow, it's not just the research and tourism sectors that are thriving. The city's cultural and educational offerings are expanding, drawing in more people who want to make it their home. This influx is a key driver in the rising property market.
Whether you're looking to invest or settle down, Tromsø offers a unique blend of opportunity and lifestyle, making it a compelling choice for property buyers.
Sources: Eiendom Norge, Citybox Hotels, The Arctic Institute
In this video, we can see that Tromsø is home to the University of Tromsø – The Arctic University of Norway, which is renowned for its Arctic studies research, highlighting the city's appeal as a hub for property interest. [5]
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.