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
Whether you're looking to buy your first apartment in Oslo or add to your property portfolio, understanding where prices stand today and where they're heading is essential.
This article breaks down the current housing prices in Oslo as of the first half of 2026, along with forecasts for the coming years.
We update this blog post regularly to reflect the latest market data and trends.
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 property prices grew roughly 4% in 2025, which is notably weaker than other major Norwegian cities, partly because investor selling added supply in central rental-heavy neighborhoods.
- The average price per square meter in Oslo sits around 95,000 NOK (about 8,100 EUR or 8,900 USD), but prime west-side districts like Frogner can exceed 120,000 NOK per square meter.
- Norges Bank cut its policy rate to 4.25% in June 2025, and further easing is expected in 2026, which should boost buyer budgets and support moderate price growth.
- Apartments and condos in Oslo typically recover first when affordability improves because they have lower ticket prices and face less pressure from strict mortgage lending rules.
- The Hovinbyen corridor, covering areas like Økern, Hasle, and Ensjø, is Oslo's largest planned urban development zone and is attracting sustained buyer interest due to improving amenities.
- Oslo's strict mortgage regulations, including debt-to-income limits, act as a natural brake on price booms, which is why the market rarely sees extreme swings compared to less regulated cities.
- Detached houses in Oslo tend to lag in early recovery phases because their higher total prices make them more sensitive to borrowing constraints and rate changes.
- Population growth in Oslo continues to drive structural housing demand, but the building pipeline remains constrained, creating a supply-demand imbalance that supports prices.
What are the current property price trends in Oslo as of 2026?
What is the average house price in Oslo as of 2026?
As of early 2026, the average sold home price in Oslo is estimated at around 7.6 million NOK, which translates to approximately 650,000 EUR or 715,000 USD.
Looking at price per square meter, Oslo properties average roughly 95,000 NOK per square meter (about 8,100 EUR or 8,900 USD), though this varies significantly depending on the neighborhood and property type.
For context, about 80% of property purchases in Oslo fall within a price range of 4 million to 12 million NOK (roughly 340,000 to 1,025,000 EUR or 375,000 to 1,130,000 USD), with apartments at the lower end and detached houses or prime-location properties at the upper end.
How much have property prices increased in Oslo over the past 12 months?
Property prices in Oslo increased by approximately 4% over the past 12 months, from January 2025 to January 2026, which is a modest but steady gain.
This growth varied somewhat by property type, with apartments seeing increases in the 3% to 5% range, while larger detached houses showed slightly softer growth due to their higher sensitivity to borrowing costs.
The single most significant factor behind this price movement was Norges Bank's decision to begin cutting interest rates in 2025, which improved buyer affordability and confidence after several years of rate pressure.
Which neighborhoods have the fastest rising property prices in Oslo as of 2026?
As of early 2026, the neighborhoods with the fastest rising property prices in Oslo include Grünerløkka, Gamle Oslo (particularly the Ensjø and Kampen areas), and the Økern/Løren corridor in the emerging Hovinbyen development zone.
These top-performing neighborhoods have seen annual price growth estimated between 5% and 8%, outpacing the Oslo average by a noticeable margin.
The main demand driver behind this growth is the combination of relative affordability compared to west-side districts, improving public amenities, and ongoing urban redevelopment that is transforming formerly industrial areas into attractive residential neighborhoods.
By the way, you will find much more detailed price ranges across neighborhoods in our property pack covering the real estate market in Oslo.
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.
Which property types are increasing faster in value in Oslo as of 2026?
As of early 2026, apartments and condos are appreciating fastest in Oslo, followed by townhouses and row houses, with detached and semi-detached houses showing the slowest growth.
Apartments in Oslo have seen annual appreciation of roughly 4% to 5%, slightly ahead of the overall market average.
The main reason apartments outperform is that Oslo is fundamentally an apartment-dominated market, and smaller-ticket properties are the first to benefit when interest rates fall and affordability improves.
Finally, if you're interested in a specific property type, you will find our latest analyses here:
- How much do properties cost in Oslo?
- How much should you pay for an apartment in Oslo?
- How much should you pay for a studio in Oslo?
What is driving property prices up or down in Oslo as of 2026?
As of early 2026, the top three factors driving Oslo property prices are the beginning of Norges Bank's rate-cutting cycle, persistently tight housing supply, and continued population growth in the capital region.
Among these, the interest rate trajectory has the strongest upward pressure on prices because falling rates directly increase what buyers can afford to borrow and bid.
If you want to understand these factors at a deeper level, you can read our latest property market analysis about Oslo here.
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What is the property price forecast for Oslo in 2026?
How much are property prices expected to increase in Oslo in 2026?
As of early 2026, property prices in Oslo are expected to increase by approximately 4.5% over the calendar year, which is slightly below the national forecast but still represents healthy growth.
Forecasts from different analysts range from about 3% on the conservative side to 7% on the optimistic side, depending on assumptions about interest rate cuts and supply dynamics.
The main assumption underlying most forecasts is that Norges Bank will continue its easing cycle throughout 2026, which would further improve buyer affordability and support demand.
We go deeper and try to understand how solid are these forecasts in our pack covering the property market in Oslo.
Which neighborhoods will see the highest price growth in Oslo in 2026?
As of early 2026, the neighborhoods expected to see the highest price growth in Oslo include Ensjø, Hasle/Løren, Bryn/Helsfyr, and Skøyen, all of which sit in active development corridors.
These top neighborhoods are projected to see price growth in the range of 5% to 8% during 2026, outperforming the citywide average.
The primary catalyst is the ongoing transformation of these areas through the Hovinbyen urban development program and improved transit connections, which make them increasingly attractive to buyers seeking value.
One emerging neighborhood that could surprise with higher-than-expected growth is Bjerke/Risløkka, which remains relatively affordable but benefits from the gravitational pull of the broader Hovinbyen plan.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Oslo.
What property types will appreciate the most in Oslo in 2026?
As of early 2026, apartments and condos (including co-op units called borettslag) are expected to appreciate the most in Oslo, followed by townhouses and then detached houses.
The projected appreciation for apartments in Oslo is around 4.5% to 5.5% for 2026, slightly ahead of the overall market.
The main demand trend driving this is that apartments are Oslo's dominant housing type and benefit first when affordability improves, as their lower ticket prices make them accessible to a wider pool of buyers.
Detached and semi-detached houses are expected to underperform because their higher total prices make them more vulnerable to strict mortgage lending rules, which cap what buyers can borrow regardless of rate cuts.
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.
How will interest rates affect property prices in Oslo in 2026?
As of early 2026, falling interest rates are expected to have a meaningful positive impact on Oslo property prices, as lower mortgage costs directly increase buyer purchasing power.
Norges Bank's policy rate currently stands at 4.25% after a cut in June 2025, and the central bank has signaled further gradual easing if inflation and growth evolve as projected.
As a general rule in Oslo, a 1% drop in mortgage rates typically translates to buyers being able to afford roughly 8% to 10% more in property value, though this effect is somewhat dampened by Norway's strict debt-to-income lending limits.
You can also read our latest update about mortgage and interest rates in Norway.
What are the biggest risks for property prices in Oslo in 2026?
As of early 2026, the top three biggest risks for Oslo property prices are interest rates not falling as expected (if inflation re-accelerates), a negative shock to the labor market that forces sales and weakens demand, and potential tightening of mortgage lending regulations.
Among these, the risk of rates not falling as expected has the highest probability of materializing, since inflation can be unpredictable and central banks sometimes pause easing cycles longer than markets anticipate.
We actually cover all these risks and their likelihoods in our pack about the real estate market in Oslo.
Is it a good time to buy a rental property in Oslo in 2026?
As of early 2026, it appears to be a reasonably good time to buy a rental property in Oslo, provided you can make the numbers work at current interest rates rather than betting on future cuts.
The strongest argument in favor of buying now is that some investor selling in 2025 has created buying opportunities in central rental-heavy neighborhoods, while falling rates should support both property values and your cash flow going forward.
The strongest argument for waiting is that if you expect rates to fall significantly further, rental yields may improve and sellers may become more motivated, potentially offering better entry points later in the year.
If you want to know our latest analysis (results may differ from what you just read), you can read our assessment on whether now is a good time to buy a property in Oslo.
You'll also find a dedicated document about this specific question in our pack about real estate in Oslo.
Buying real estate in Oslo can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
Where will property prices be in 5 years in Oslo?
What is the 5-year property price forecast for Oslo as of 2026?
As of early 2026, cumulative property price growth in Oslo over the next 5 years is expected to reach approximately 22%, based on our base-case scenario.
The range of 5-year forecasts spans from about 10% in a conservative scenario (where rates stay higher and supply increases) to around 35% in an optimistic scenario (where rates fall faster and supply remains constrained).
This translates to a projected average annual appreciation rate of roughly 4% per year over the next 5 years in Oslo.
The key assumption most forecasters rely on is that Oslo's structural housing demand, driven by population growth and limited land supply, will continue to outpace new construction.
Which areas in Oslo will have the best price growth over the next 5 years?
The top three areas in Oslo expected to have the best price growth over the next 5 years are the Hovinbyen corridor (including Økern, Hasle, Løren, Ensjø, and Bryn/Helsfyr), the Skøyen node on the west side, and the inner-east neighborhoods of Grünerløkka and Gamle Oslo.
These top-performing areas are projected to see cumulative 5-year price growth in the range of 28% to 40%, meaningfully outpacing the citywide average.
This outlook is consistent with our shorter 2026 forecast, but the 5-year horizon amplifies the effects of major urban development programs and infrastructure improvements that take time to fully materialize.
The currently undervalued area with the best potential for outperformance over 5 years is Bjerke/Alna, which sits within the Hovinbyen master plan but has not yet seen the same price appreciation as more central parts of the corridor.
What property type will give the best return in Oslo over 5 years as of 2026?
As of early 2026, well-located apartments in Oslo are expected to give the best total return over 5 years, combining both price appreciation and rental income potential.
The projected 5-year total return for apartments in strong Oslo locations is estimated at 35% to 50%, including both capital gains (around 22% to 30%) and cumulative net rental income.
The main structural trend favoring apartments is that Oslo remains fundamentally an apartment-dominated market, and these properties benefit from high liquidity, steady renter demand, and lower sensitivity to borrowing constraints than larger homes.
For buyers seeking a balance of return and lower risk, townhouses in well-connected outer neighborhoods offer a reasonable middle ground, with more space and lower price-per-square-meter than central apartments, but still solid demand and resale potential.
How will new infrastructure projects affect property prices in Oslo over 5 years?
The top three major infrastructure projects expected to impact Oslo property prices over the next 5 years are the Fornebubanen metro extension (connecting Fornebu to Majorstuen via Skøyen), the ongoing Hovinbyen urban transformation, and various transit upgrades in the eastern corridor.
Properties near completed or under-construction transit infrastructure in Oslo typically command a price premium of 5% to 15% compared to similar properties farther from stations, with the effect strongest for apartments.
The specific neighborhoods that will benefit most from these infrastructure developments include Skøyen (as a major Fornebubanen node), Majorstuen (improved connectivity), and the Bryn/Helsfyr area (already a transit hub with ongoing redevelopment).
How will population growth and other factors impact property values in Oslo in 5 years?
Oslo's population is projected to grow at roughly 0.8% to 1.2% annually over the next 5 years, which should add meaningful upward pressure on property values by increasing the number of households competing for limited housing stock.
The demographic shift with the strongest influence on Oslo property demand is the continued growth of smaller households, as more young professionals and couples seek apartments in well-connected urban areas.
Migration patterns, both domestic (from other parts of Norway to Oslo for jobs) and international (skilled workers and students), are expected to remain a net positive driver for Oslo property values, particularly in neighborhoods near universities and major employment centers.
Apartments in inner-city and transit-connected neighborhoods will benefit most from these demographic trends, as they match the preferences of the growing young professional and small-household segments.
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.
What is the 10 year property price outlook in Oslo?
What is the 10-year property price prediction for Oslo as of 2026?
As of early 2026, cumulative property price growth in Oslo over the next 10 years is expected to reach approximately 41% in our base-case scenario.
The range of 10-year forecasts is quite wide, spanning from about 20% in a conservative scenario to around 70% in an optimistic scenario, reflecting genuine uncertainty over such a long horizon.
This works out to a projected average annual appreciation rate of roughly 3.5% per year over the next decade in Oslo, which is slightly lower than the 5-year rate because housing cycles typically include some flat or down years.
The biggest uncertainty factor in making 10-year property price predictions for Oslo is the future interest rate environment, since it remains unclear whether we are returning to a low-rate world or settling into a permanently higher rate regime.
What long-term economic factors will shape property prices in Oslo?
The top three long-term economic factors that will shape Oslo property prices over the next decade are real wage growth and productivity (which determines what households can afford), the long-term interest rate regime, and housing supply responsiveness (how quickly construction can meet demand).
Among these, real wage growth will likely have the most positive impact on Oslo property values, since rising incomes directly translate into higher borrowing capacity and willingness to pay for housing.
The greatest structural risk to Oslo property values over the long term is a scenario where interest rates remain elevated while wage growth stagnates, which would compress affordability and limit price appreciation.
You'll also find a much more detailed analysis in our pack about real estate in Oslo.
Is buying a property in Oslo a good long-term investment?
For most households, buying property in Oslo is a good long-term investment when held for 10 years or more, as the city's structural demand and constrained supply support steady price growth over time.
The main payoff from Oslo real estate comes from staying invested through market cycles, choosing liquid and well-located properties, and avoiding over-leveraging under Norway's strict lending rules.
However, realistic expectations matter: Oslo is typically a "slow-and-steady compounding" market rather than a place where you can expect quick windfalls, and short holding periods carry meaningful risk of buying at the wrong point in a cycle.
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) Housing Prices | Norway's official statistics agency and the ground truth for national housing data. | We used it to anchor long-run Oslo price trends and validate private indexes. We also ensured our dwelling-type definitions matched their standards. |
| SSB Statbank Table 14310 | Official structured dataset you can query and reproduce for price-per-sqm data. | We used it to triangulate Oslo's true per-square-meter levels by dwelling type. We also validated the gap between apartments and houses. |
| SSB Building Statistics | Official pipeline data for permits, starts, and completions in Norway. | We used it to assess whether Oslo faces a supply squeeze or wave. We tied this into our 5 and 10-year price scenarios. |
| SSB Population Statistics | Official demographic data covering population and migration. | We used it to assess structural housing demand in Oslo. We combined it with supply trends to frame long-term pressures. |
| SSB Regional Population Projections | Official long-range demographic scenarios for Norwegian municipalities. | We used it for 10-year demand assumptions rather than guessing. We stress-tested optimistic and pessimistic variants. |
| Eiendom Norge Housing Price Statistics | Industry-standard monthly index for Norway's resale market, used by banks and media. | We used it for near-term momentum and national context. We cross-checked Oslo's direction against OBOS and SSB data. |
| Eiendom Norge 2026 Forecast | Transparent, dated forecast from Norway's leading market statistics body. | We used it to anchor the national 2026 expectation. We then tailored Oslo's forecast based on local drivers. |
| OBOS Oslo Price Statistics | Long-running index covering about 25% of Oslo resales with clear methodology. | We used it as the cleanest Oslo-specific 12-month change check. We also used their per-sqm reference point and adjusted for full-market levels. |
| Norges Bank Policy Rate Decision | The central bank's official record of rate decisions and forward guidance. | We used it to explain why affordability is improving into 2026. We tied rate cuts to buyer budgets and price sensitivity. |
| Norges Bank Financial Stability Report | Central bank's core risk assessment for debt and housing vulnerabilities. | We used it to discuss downside risks like high debt and shock sensitivity. We balanced supply-shortage narratives with these risks. |
| Finanstilsynet Lending Regulation | The financial regulator's official description of mortgage constraints in Norway. | We used it to explain demand caps from debt-to-income and loan-to-value limits. We incorporated this into our rate-impact analysis. |
| Norwegian Government Lending Regulation | Government's primary source for rule changes affecting credit access. | We used it to ground claims about mortgage regulation changes. We treat regulation as a structural speed limiter for booms. |
| Oslo Municipality Hovinbyen Plan | City's official plan for Oslo's largest urban development area. | We used it to identify which named areas will see sustained demand. We incorporated its multi-decade scale into our 5 and 10-year outlooks. |
| Oslo Municipality Skøyen Development | Official planning context for a major west-side node with infrastructure spillovers. | We used it to justify why Skøyen and adjacent corridors can outperform. We connected this to the infrastructure effect section. |
| Oslo Municipality Fornebu Line | Official project description and financing facts for the major metro expansion. | We used it as the credible basis for where connectivity improves. We treat it as a medium-term tailwind for nearby neighborhoods. |
| OECD Economic Outlook Norway | Top-tier international forecaster with consistent methodology across countries. | We used it to frame 2026 macro conditions like growth and inflation. We translated these into housing demand and rate expectations. |
| SSB Economic Commentary | Norway's official statistics agency's domestic business cycle analysis. | We used it for housing investment expectations and economic outlook. We combined it with OECD for a balanced macro view. |
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If you want to go deeper, you can read the following: