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
Everything you need to know about renting out a residential property in Oslo as a foreign investor is covered in this guide.
We break down rental yields, legal requirements, neighborhood performance, and the real numbers you should budget for in 2026.
This blog post is constantly updated as the Oslo rental market evolves and new regulations come into effect.
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 Oslo.
Insights
- Oslo gross rental yields for small apartments hover around 4.4% in early 2026, which is higher than the 3.8% you would get from a larger 2-bedroom unit due to the price-per-square-meter dynamics.
- Housing cooperatives (borettslag) in Oslo limit short-term rentals to just 30 days per year, making "buy-to-Airbnb" strategies legally impossible for most apartment buildings.
- The Norwegian government announced in late 2025 that it will introduce stronger tools to crack down on illegal short-term letting, specifically mentioning Oslo as a target area.
- Oslo rents climbed roughly 7% through 2025, and the city is reportedly short about 20,000 rental homes, which keeps vacancy rates extremely low for correctly priced units.
- Mortgage interest rates in Norway sit around 5.1% in early 2026, meaning a financed Oslo rental often costs around 18,600 NOK per month to hold before any rental income.
- Neighborhoods like Tøyen and Ensjø in Gamle Oslo often deliver better yields than prestigious Frogner because purchase prices are lower while tenant demand remains strong.
- Foreigners buying property in Oslo typically need a D-number (a Norwegian identification number) for land registry and banking purposes, even without residency.
- Security deposits in Oslo are capped at six months' rent by law and must be placed in a locked bank account in the tenant's name, not the landlord's.
- Short-term rental occupancy in Oslo averages around 58%, but the 90-day annual cap for condominiums means you can only capture a fraction of that potential revenue legally.
Can I legally rent out a property in Oslo as a foreigner right now?
Can a foreigner own-and-rent a residential property in Oslo in 2026?
As of early 2026, a foreign individual can generally buy and rent out residential property in Oslo without facing nationality-based restrictions.
The main ownership structures available to foreigners in Oslo are condominiums (eierseksjon), housing cooperatives (borettslag), and freehold houses, though each comes with different rules about how you can rent out the property.
The biggest limitation foreigners face in Oslo is not a legal ban but the fact that housing cooperatives often restrict subletting and require board approval, which can complicate your rental plans significantly.
If you're not a local, you might want to read our guide to foreign property ownership in Oslo.
Do I need residency to rent out in Oslo right now?
You do not need to be a resident of Norway to legally own and rent out a residential property in Oslo, as many foreign investors operate remotely through local property managers.
However, you will typically need a Norwegian D-number (a tax identification number for non-residents) to handle registration, banking, and tax reporting for your Oslo rental income.
While rent can technically be paid to a foreign bank account, you will almost certainly need a Norwegian bank account because security deposits must legally be held in a locked account in the tenant's name at a Norwegian bank.
Managing an Oslo rental remotely is entirely feasible if you hire a local letting agent or property manager, which is a common setup for foreign landlords who do not live in Norway.
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What rental strategy makes the most money in Oslo in 2026?
Is long-term renting more profitable than short-term in Oslo in 2026?
As of early 2026, long-term renting is generally the more profitable and practical strategy in Oslo because short-term letting is heavily restricted by Norwegian law for most apartment types.
The income difference is hard to compare directly because condominiums cap Airbnb-style rentals at 90 days per year and housing cooperatives cap them at just 30 days, meaning you legally cannot operate short-term year-round in most Oslo apartments.
Short-term renting can outperform long-term only if you own a freehold property or a condominium with permissive bylaws and you can achieve high occupancy during your allowed rental days, but this comes with higher operational effort and regulatory risk.
What's the average gross rental yield in Oslo in 2026?
As of early 2026, the average gross rental yield for residential properties in Oslo ranges from roughly 3.7% to 4.5%, depending on property size and location.
Most Oslo apartments fall within a realistic gross yield range of 3.5% to 4.6%, with smaller units at the higher end and larger family apartments at the lower end.
Studios and one-room apartments typically achieve the highest gross rental yields in Oslo (around 4.4%) because purchase prices scale more favorably relative to rent for compact units.
By the way, we have much more granular data about rental yields in our property pack about Oslo.
What's the realistic net rental yield after costs in Oslo in 2026?
As of early 2026, the realistic net rental yield for Oslo residential properties typically falls between 2.6% and 3.4% after accounting for all running costs and vacancy.
Most Oslo landlords experience net yields in the 2.5% to 3.5% range, with well-managed properties in high-demand areas achieving the upper end.
The three main cost categories that reduce gross yield to net yield in Oslo are building fees (felleskostnader, which can be substantial in newer buildings), property management fees for remote owners, and the mandatory vacancy buffer during tenant turnover and notice periods.
You might want to check our latest analysis about gross and net rental yields in Oslo.
What monthly rent can I get in Oslo in 2026?
As of early 2026, typical monthly rents in Oslo are approximately 10,800 NOK (around 950 USD or 900 EUR) for a studio, 16,300 NOK (around 1,450 USD or 1,350 EUR) for a 1-bedroom, and 20,400 NOK (around 1,800 USD or 1,700 EUR) for a 2-bedroom apartment.
A realistic entry-level monthly rent for a decent studio in Oslo ranges from 9,000 to 12,000 NOK (roughly 800 to 1,050 USD or 750 to 1,000 EUR), depending on neighborhood and condition.
A typical 1-bedroom apartment in Oslo rents for between 14,000 and 18,000 NOK per month (roughly 1,250 to 1,600 USD or 1,150 to 1,500 EUR) in most central and semi-central areas.
A 2-bedroom apartment in Oslo typically commands between 18,000 and 24,000 NOK per month (roughly 1,600 to 2,100 USD or 1,500 to 2,000 EUR), with premium locations pushing toward the higher end.
If you want to know more about this topic, you can read our guide about rents and rental incomes in Oslo.
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 real numbers I should budget for renting out in Oslo in 2026?
What's the total "all-in" monthly cost to hold a rental in Oslo in 2026?
As of early 2026, the total all-in monthly cost to hold a typical financed 1-bedroom rental in Oslo is approximately 18,600 NOK (around 1,650 USD or 1,550 EUR), including mortgage interest, building fees, insurance, maintenance, and management.
A realistic monthly holding cost range for most Oslo rental apartments spans from 5,000 NOK (for a cash buyer with low building fees) to 22,000 NOK (for a financed purchase in a high-service building), which translates to roughly 450 to 1,950 USD or 420 to 1,830 EUR.
For financed properties in Oslo, mortgage interest is by far the largest contributor to monthly holding costs, often accounting for 70% or more of total expenses at current rates around 5.1%.
You want to go into more details? Check our list of property taxes and fees you have to pay when buying a property in Oslo.
What's the typical vacancy rate in Oslo in 2026?
As of early 2026, the typical vacancy rate for correctly priced rental properties in Oslo is very low, estimated at around 4% to 8% annually.
A landlord in Oslo should realistically budget for about half a month to one month of vacancy per year because even in a tight market, you lose time to notice periods, cleaning, minor repairs, and re-advertising between tenants.
The main factor causing vacancy rates to vary across Oslo neighborhoods is proximity to public transit and the city center, as units near T-bane stations and tram lines fill much faster than those in poorly connected outer areas.
Tenant turnover in Oslo typically peaks in late summer (July and August) when students and young professionals relocate before the autumn semester and work year begins.
We have a whole part covering the best rental strategies in our pack about buying a property in Oslo.
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Where do rentals perform best in Oslo in 2026?
Which neighborhoods have the highest long-term demand in Oslo in 2026?
As of early 2026, the top three neighborhoods with the highest overall long-term rental demand in Oslo are Grünerløkka, St. Hanshaugen, and Frogner, all of which combine excellent transit access with vibrant local amenities.
Families looking for long-term rentals in Oslo tend to concentrate in Ullern (including Skøyen), Nordstrand, and Vestre Aker (including Røa), where larger apartments, good schools, and quieter streets are more readily available.
Students in Oslo generate strong rental demand in St. Hanshaugen, Sagene, and Grünerløkka because these neighborhoods offer easy access to Blindern campus, affordable room shares, and proximity to nightlife and cafes.
Expats and international professionals typically prefer Frogner, Aker Brygge/Tjuvholmen, and Bjørvika for their modern housing stock, walkability, English-friendly services, and proximity to central business districts.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Oslo.
Which neighborhoods have the best yield in Oslo in 2026?
As of early 2026, the top three neighborhoods offering the best rental yields in Oslo are Gamle Oslo (particularly Tøyen and Ensjø), parts of eastern Grünerløkka, and select pockets of Sagene.
The estimated gross rental yield range in these top-yielding Oslo neighborhoods is approximately 4.2% to 4.8%, compared to 3.2% to 3.6% in premium areas like Frogner or Bjørvika.
The main characteristic allowing these neighborhoods to achieve higher yields than others in Oslo is their combination of strong tenant demand (driven by transit links and urban amenities) with purchase prices that are 20% to 35% lower per square meter than the prestigious inner-west districts.
We cover a lot of neighborhoods and provide a lot of updated data in our pack about real estate in Oslo.
Where do tenants pay the highest rents in Oslo in 2026?
As of early 2026, the top three neighborhoods where tenants pay the highest rents in Oslo are Frogner, Aker Brygge/Tjuvholmen, and Bjørvika, all of which feature premium waterfront or historic addresses.
A standard 2-bedroom apartment in these premium Oslo neighborhoods typically rents for 25,000 to 35,000 NOK per month (roughly 2,200 to 3,100 USD or 2,100 to 2,900 EUR), well above the citywide average.
The main characteristic that makes these neighborhoods command the highest rents in Oslo is the combination of new-build waterfront developments, high-end finishes, and addresses that signal prestige and security to quality-conscious renters.
The typical tenant profile in these highest-rent Oslo neighborhoods includes senior corporate executives, diplomats, wealthy international professionals, and dual-income couples without children who prioritize location and building quality over space.
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.
What do tenants actually want in Oslo in 2026?
What features increase rent the most in Oslo in 2026?
As of early 2026, the top three property features that increase monthly rent the most in Oslo are proximity to T-bane or tram stops (critical during harsh winters), good insulation with low heating costs, and in-unit laundry facilities.
Being within a 5-minute walk of a T-bane station can add an estimated 8% to 12% rent premium in Oslo compared to similar units that require a bus transfer or longer walk.
One commonly overrated feature that Oslo landlords invest in but tenants do not pay much extra for is luxury bathroom finishes, as renters prioritize functional modern fittings over high-end designer tiles.
One affordable upgrade that provides a strong return on investment for Oslo landlords is installing a dishwasher, which many apartments lack but renters strongly prefer and will pay a modest premium to have.
Do furnished rentals rent faster in Oslo in 2026?
As of early 2026, furnished apartments in Oslo typically rent 1 to 2 weeks faster than unfurnished ones, particularly for studios and 1-bedrooms targeting students, expats, and young professionals.
Furnished rentals in Oslo generally command a rent premium of 10% to 20% over unfurnished equivalents, though this premium is partially offset by higher wear-and-tear costs and furniture replacement cycles.
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How regulated is long-term renting in Oslo right now?
Can I freely set rent prices in Oslo right now?
Landlords in Oslo can generally set the initial rent freely by agreement with the tenant, though the rent must be defensible as reasonable if ever challenged against comparable properties in the area.
Rent increases during a tenancy in Oslo are regulated: you can adjust annually by the consumer price index (CPI), or every three years you can request an adjustment to the "current level of rents" for comparable homes, but the latter requires six months' written notice.
What's the standard lease length in Oslo right now?
The most common lease length for residential rentals in Oslo is one to three years, though open-ended leases are also used, and termination rules and notice periods are regulated by the Tenancy Act.
The maximum security deposit a landlord can legally require in Oslo is six months' rent (for example, roughly 65,000 to 100,000 NOK, or 5,800 to 8,900 USD, or 5,400 to 8,300 EUR for a typical 1-bedroom).
The deposit must be placed in a locked deposit account in the tenant's name at a Norwegian bank, and at the end of the tenancy, both parties must agree or follow a formal dispute process before the funds can be released.
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.
How does short-term renting really work in Oslo in 2026?
Is Airbnb legal in Oslo right now?
Airbnb-style short-term rentals are legal in Oslo, but the number of days you can rent out per year is strictly limited depending on your property's ownership structure.
Oslo does not currently require a universal short-term rental license, but condominiums limit entire-unit rentals to 90 days per year (unless bylaws set a different cap), and housing cooperatives cap them at just 30 days.
The most common penalty for operating an illegal or non-compliant short-term rental in Oslo includes fines, potential eviction from a cooperative, and the Norwegian government announced in late 2025 that municipalities will soon have stronger enforcement tools.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Oslo.
What's the average short-term occupancy in Oslo in 2026?
As of early 2026, the estimated average annual occupancy rate for short-term rentals in Oslo is around 58%, according to market data tracking active listings.
Most short-term rentals in Oslo experience occupancy rates ranging from 45% to 70%, depending heavily on location, pricing strategy, and listing quality.
The highest occupancy rates for short-term rentals in Oslo occur during summer (June through August) when tourist arrivals peak, and around Christmas and Easter holidays.
The lowest occupancy rates in Oslo typically fall in the late autumn shoulder season (October and November) and the post-holiday lull in January and February when tourism drops significantly.
Finally, please note that you can find much more granular data about this topic in our property pack about Oslo.
What's the average nightly rate in Oslo in 2026?
As of early 2026, the estimated average nightly rate for short-term rentals in Oslo is approximately 1,340 NOK (around 134 USD or 125 EUR), based on market data converted at current exchange rates.
A realistic nightly rate range that covers most short-term rental listings in Oslo spans from 800 NOK to 2,200 NOK (roughly 80 to 220 USD or 75 to 205 EUR), depending on property size, location, and quality.
The typical nightly rate difference between peak season (summer and holidays) and off-season (late autumn and early winter) in Oslo is roughly 300 to 500 NOK per night (about 30 to 50 USD or 28 to 47 EUR).
Is short-term rental supply saturated in Oslo in 2026?
As of early 2026, Oslo's short-term rental market is not oversaturated in terms of raw demand, but it is heavily constrained by regulations that cap how many days properties can be rented, which limits practical supply.
The number of active short-term rental listings in Oslo appears relatively stable, as legal restrictions prevent the explosive growth seen in less regulated cities.
The most oversaturated neighborhoods for short-term rentals in Oslo include the central tourist zones like Sentrum, Karl Johans gate area, and Aker Brygge, where competition among listings is fiercest.
Neighborhoods that still have room for new short-term rental supply in Oslo include emerging areas like Vulkan/Grünerløkka edges and parts of Bjørvika, where new-build stock is entering the market and tourist infrastructure is developing.
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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 Oslo, 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) | Norway's official statistics agency for rent levels. | We used SSB data as the baseline for Oslo monthly rents by number of rooms. We applied a 7% uplift to estimate January 2026 levels. |
| Krogsveen | Major Norwegian brokerage using Eiendom Norge data. | We used their Oslo price-per-square-meter figures to calculate gross yields. We also sized example purchase prices for different apartment types. |
| Eiendom Norge | Industry body behind Norway's housing price statistics. | We used their data to anchor market context and supply dynamics. We cross-checked that our price inputs align with standard Norwegian references. |
| The Tenancy Act (Regjeringen.no) | Official government publication of Norwegian rental law. | We used it for hard legal rules on deposits and tenant protections. We kept all landlord guidance legally grounded using this source. |
| Husleietvistutvalget (HTU) | State body explaining landlord and tenant rules. | We used HTU to explain how rent increases work in Norway. We translated the law into practical low-effort steps for landlords. |
| Lovdata (Condominium Act) | Norway's canonical legal database used by courts. | We used it for the black-letter rule on short-term letting caps. We showed why full-time Airbnb often fails legally in Oslo. |
| Norges Bank | Norway's central bank for monetary policy direction. | We used their December 2025 rate decision to support the early 2026 rate environment. We also used their FX rates for currency conversions. |
| Skatteetaten | Official tax administration guidance on Norwegian IDs. | We used it to explain what a D-number is and how foreigners obtain one. We mapped tax number requirements into actionable steps. |
| AirDNA MarketMinder | Established short-term rental data provider. | We used their Oslo data for occupancy, ADR, and revenue estimates. We compared STR vs LTR profitability using their metrics filtered through legal caps. |
| Oslo Kommune | Official city source for Oslo property tax rules. | We used it to flag that property tax applies in Oslo and should be budgeted. We included it in monthly holding-cost examples. |
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.
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