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 are a foreigner looking to invest in one of Scandinavia's most dynamic capitals or simply trying to understand where Oslo's property market is heading, this guide covers the key facts you need to know.
We will walk you through current housing prices in Oslo, market momentum, neighborhood trends, and the practical challenges foreign buyers face in 2026.
We constantly update this blog post to reflect the latest data and market conditions.
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.
How's the real estate market going in Oslo in 2026?
What's the average days-on-market in Oslo in 2026?
As of early 2026, the estimated average days-on-market for residential properties in Oslo is around 35 to 45 days, which is noticeably faster than the national average of approximately 71 days recorded in December 2025.
The realistic range for most typical listings in Oslo spans from about 25 days for highly desirable inner-city apartments to 60 days or more for properties with less attractive features such as ground-floor units, co-op restrictions, or locations farther from public transport.
Compared to one or two years ago, the days-on-market in Oslo has remained relatively stable, though the market saw a brief slowdown during late 2023 when higher interest rates dampened buyer activity before recovering in 2024 and 2025 as rate expectations shifted.
Are properties selling above or below asking in Oslo in 2026?
As of early 2026, the estimated average sale-to-asking price ratio for residential properties in Oslo is around 100% to 102%, meaning most homes sell at or slightly above the asking price.
Roughly 40% to 50% of properties in Oslo sell above asking, while the remaining half sell at or below asking, and we are fairly confident in this estimate based on consistent broker commentary and recent transaction patterns. The variation depends heavily on property type, location, and condition.
The property types and neighborhoods in Oslo most likely to see bidding wars and above-asking sales include small to mid-sized apartments in the inner west (Frogner, Majorstuen, St. Hanshaugen) and well-located units in gentrifying eastern areas like Grünerløkka, where scarcity and high demand drive competition.
By the way, you will find much more detailed data in our property pack covering the real estate market in Oslo.
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 kinds of residential properties can I realistically buy in Oslo?
What property types dominate in Oslo right now?
In Oslo, the estimated breakdown of residential properties available for sale is roughly 70% to 75% apartments in multi-dwelling buildings (blocks), with the remaining 25% to 30% split between row houses, semi-detached homes, and detached houses concentrated mainly in outer neighborhoods.
Apartments in housing blocks represent the largest share of the Oslo market by far, making them the default option for most buyers, especially in central and semi-central areas.
Apartments became so prevalent in Oslo because the city's geography is constrained by the fjord and surrounding hills, which limited outward sprawl and encouraged vertical building, combined with decades of urban planning that prioritized density and public transport connectivity.
If you want to know more, you should read our dedicated analyses:
Are new builds widely available in Oslo right now?
The estimated share of new-build properties among all residential listings in Oslo is relatively low, likely around 10% to 15%, because new construction has been severely constrained by high building costs and weak profitability in recent years.
As of early 2026, the neighborhoods in Oslo with the highest concentration of new-build developments include the Hovinbyen corridor (particularly Økern, Helsfyr, Hasle, and Løren), waterfront redevelopment areas like Bjørvika and Sørenga, and parts of the outer west near Fornebu where major projects are underway.
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Which neighborhoods are improving fastest in Oslo in 2026?
Which areas in Oslo are gentrifying in 2026?
As of early 2026, the top neighborhoods in Oslo currently showing the clearest signs of gentrification include Tøyen, Grønland, the Ensjø-Helsfyr corridor, and parts of Gamle Oslo where former industrial areas are being transformed into residential and mixed-use developments.
The visible changes indicating gentrification in these areas include the arrival of specialty coffee shops, co-working spaces, and upscale restaurants alongside major housing construction, plus a noticeable shift in demographic composition as younger professionals and families with higher incomes move in.
The estimated price appreciation in these gentrifying neighborhoods over the past two to three years has been around 15% to 25% in nominal terms, outpacing the Oslo average, though exact figures vary by micro-location and property type.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Oslo.
Where are infrastructure projects boosting demand in Oslo in 2026?
As of early 2026, the top areas in Oslo where major infrastructure projects are boosting housing demand include the western corridor from Majorstuen toward Fornebu (linked to the Fornebubanen metro extension) and the Hovinbyen zone where transit, roads, and public realm upgrades are reshaping accessibility.
The specific infrastructure projects driving that demand include the Fornebubanen metro line, which will connect Majorstuen to Fornebu with multiple new stations, and the broader Hovinbyen redevelopment plan that includes improved cycling infrastructure, new public spaces, and enhanced bus and tram connectivity.
The estimated timeline for completion of these major projects in Oslo is around 2029 for the Fornebubanen metro, while various Hovinbyen improvements are rolling out in phases through 2030 and beyond.
The typical price impact on nearby properties in Oslo is an estimated 5% to 15% premium once infrastructure projects are announced, with additional appreciation of 5% to 10% as projects approach completion and the benefits become tangible to residents.
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.
What do locals and insiders say the market feels like in Oslo?
Do people think homes are overpriced in Oslo in 2026?
As of early 2026, the estimated general sentiment among locals and market insiders in Oslo is mixed, with many feeling that prices are high but not irrational given the city's constrained supply and strong job market, while first-time buyers often express frustration at affordability challenges.
The specific evidence locals typically cite when arguing homes are overpriced in Oslo includes the price-to-income ratio (which is among the highest in Europe), the difficulty of saving a sufficient down payment on a median salary, and the fact that Oslo rents have also risen sharply, limiting alternatives.
The counterarguments given by those who believe prices are fair in Oslo include the city's low unemployment, stable political environment, high quality of life, and the structural undersupply of housing that has persisted for years, all of which support sustained demand.
The price-to-income ratio in Oslo is estimated at around 10 to 12 times the median household income, compared to a national Norwegian average closer to 7 to 8 times, making Oslo significantly less affordable than most other Norwegian cities.
What are common buyer mistakes people regret in Oslo right now?
The most frequently cited buyer mistake people regret in Oslo is failing to account for shared debt (fellesgjeld) and monthly fees (felleskostnader) in housing cooperatives (borettslag), which can add 20% to 40% to the true cost of ownership and affect mortgage eligibility.
The second most common buyer mistake in Oslo is underestimating transaction costs and administrative steps, especially for foreigners who may not realize they need a D-number for land registry registration or that stamp duty alone adds 2.5% to the purchase price.
If you want to go deeper, you can check our list of risks and pitfalls people face when buying property in Oslo.
It's because of these mistakes that we have decided to build our pack covering the property buying process in Oslo.
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How easy is it for foreigners to buy in Oslo in 2026?
Do foreigners face extra challenges in Oslo right now?
The estimated overall difficulty level foreigners face when buying property in Oslo is moderate, meaning it is legally straightforward (no nationality restrictions apply) but practically more complex due to banking, identification, and language barriers.
The specific legal requirements for foreign buyers in Oslo are minimal: there are no restrictions on apartment or house purchases, though you will need a Norwegian D-number (temporary identification number) to complete land registry registration and open a bank account.
The practical challenges foreigners most commonly encounter in Oslo include navigating the borettslag (housing cooperative) system where board approval may be required, understanding fellesgjeld (shared debt) which is unique to Norwegian co-ops, and finding banks willing to lend without documented Norwegian income.
We will tell you more in our blog article about foreigner property ownership in Oslo.
Do banks lend to foreigners in Oslo in 2026?
As of early 2026, Norwegian banks do lend to foreigners for home purchases in Oslo, though approval is significantly easier for those with Norwegian employment and income than for non-residents relying solely on foreign income.
The typical loan-to-value ratios foreign buyers can expect in Oslo range from 60% to 75%, meaning you need 25% to 40% down, compared to Norwegian residents who may qualify for up to 90% financing under current lending regulations, and interest rates generally range from 4.6% to 5.3%.
The documentation banks typically demand from foreign applicants in Oslo includes proof of Norwegian income (employment contract and payslips), a D-number or personal identification number, bank statements showing savings history, and documentation of the source of funds for anti-money-laundering compliance.
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.
How risky is buying in Oslo compared to other nearby markets?
Is Oslo more volatile than nearby places in 2026?
As of early 2026, Oslo's price volatility is estimated to be moderate compared to nearby Scandinavian capitals, showing less dramatic swings than Stockholm (which experienced sharper corrections in 2022-2023) but more rate sensitivity than Copenhagen due to Norway's variable-rate mortgage dominance.
Over the past decade, Oslo has experienced price swings including a brief dip of about 1% to 2% in 2017 following stricter mortgage rules, a decline of roughly 3% to 5% in late 2022 and early 2023 when rates rose sharply, and a recovery through 2024-2025 as rate expectations stabilized.
If you want to go into more details, we also have a blog article detailing the updated housing prices in Oslo.
Is Oslo resilient during downturns historically?
The estimated historical resilience of Oslo property values during past economic downturns is relatively strong, largely because Norway's oil wealth, stable employment, and conservative lending standards have cushioned the capital from severe crashes seen in other European cities.
During the most recent major downturn (late 2022 to early 2023), property prices in Oslo dropped by roughly 3% to 5% in real terms before recovering within about 12 to 18 months as the market adjusted to higher interest rates and rate cut expectations emerged.
The property types and neighborhoods in Oslo that have historically held value best during downturns include premium western districts like Frogner and Ullern, where high-income residents provide stable demand, and small centrally located apartments that appeal to a broad buyer base and benefit from supply scarcity.
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How strong is rental demand behind the scenes in Oslo in 2026?
Is long-term rental demand growing in Oslo in 2026?
As of early 2026, the estimated growth trend for long-term rental demand in Oslo is strong and rising, driven by constrained housing supply, high purchase prices that keep many would-be buyers in the rental market, and continued population growth in the capital region.
The tenant demographics driving long-term rental demand in Oslo include young professionals working in the city's tech, finance, and public sectors, international expats employed by multinational companies, and students attending the University of Oslo and other institutions.
The neighborhoods in Oslo with the strongest long-term rental demand right now include Grünerløkka, Majorstuen, St. Hanshaugen, and Bjørvika, where proximity to jobs, nightlife, and public transport makes these areas especially attractive to renters willing to pay premium prices.
You might want to check our latest analysis about rental yields in Oslo.
Is short-term rental demand growing in Oslo in 2026?
The regulatory changes currently affecting short-term rental operations in Oslo include a legal baseline of 90 days per year for renting out an entire condominium unit on platforms like Airbnb, plus a December 2025 government initiative to make it easier for municipalities to regulate and enforce against illegal short-term rentals.
As of early 2026, the estimated growth trend for short-term rental demand in Oslo remains positive due to steady tourism numbers and business travel, though the regulatory environment creates uncertainty for investors counting on Airbnb-style income.
The current estimated average occupancy rate for short-term rentals in Oslo is around 60% to 70% for well-located properties in central areas, though this varies significantly by season, with summer and holiday periods seeing the highest demand.
The guest demographics driving short-term rental demand in Oslo include leisure tourists visiting for city breaks and fjord excursions, business travelers attending conferences, and digital nomads attracted by Norway's quality of life and connectivity.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Oslo.
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 are the realistic short-term and long-term projections for Oslo in 2026?
What's the 12-month outlook for demand in Oslo in 2026?
As of early 2026, the estimated 12-month demand outlook for residential property in Oslo is positive, with most analysts expecting buyer activity to increase as interest rate cuts begin and consumer confidence improves.
The key economic and political factors most likely to influence demand in Oslo over the next 12 months include Norges Bank's rate decisions (with one to two cuts expected), wage growth that boosts purchasing power, and the ongoing shortage of new housing supply that keeps pressure on the resale market.
The forecasted price movement for Oslo over the next 12 months is an estimated increase of 4% to 6%, which is slightly below the national forecast of around 6% because Oslo's market was weaker than expected in 2025 and faces continued absorption of former rental properties being sold by landlords.
By the way, we also have an update regarding price forecasts in Norway.
What's the 3-5 year outlook for housing in Oslo in 2026?
As of early 2026, the estimated 3 to 5 year outlook for housing prices and demand in Oslo is moderately bullish, with expectations of cumulative price growth of 15% to 30% over this period driven by structural undersupply, infrastructure investments, and eventual rate normalization.
The major development projects expected to shape Oslo over the next 3 to 5 years include the Fornebubanen metro line (opening around 2029), continued buildout of the Hovinbyen corridor with tens of thousands of new homes and jobs, and waterfront regeneration projects in areas like Filipstad.
The single biggest uncertainty that could alter the 3 to 5 year outlook for Oslo is the trajectory of interest rates, because if inflation proves sticky and Norges Bank delays rate cuts, affordability will remain constrained and demand could weaken more than expected.
Are demographics or other trends pushing prices up in Oslo in 2026?
As of early 2026, the estimated impact of demographic trends on housing prices in Oslo is moderate but persistent, with continued population growth in the capital region and steady demand from young adults forming households keeping baseline demand elevated.
The specific demographic shifts most affecting prices in Oslo include net positive migration (both domestic from other Norwegian regions and international), a growing number of single-person households that increases demand for smaller apartments, and the aging of the baby boomer generation which is freeing up some larger family homes.
The non-demographic trends also pushing prices in Oslo include the shift toward hybrid and remote work (which has sustained demand for apartments with home office space), growing interest from foreign investors seeking stable Nordic assets, and the limited new construction pipeline that keeps supply tight.
These demographic and trend-driven price pressures are expected to continue in Oslo for at least the next 5 to 10 years, as the city's role as Norway's economic and cultural capital reinforces its attractiveness and supply remains structurally constrained by geography and regulation.
What scenario would cause a downturn in Oslo in 2026?
As of early 2026, the estimated most likely scenario that could trigger a housing downturn in Oslo is a prolonged period of elevated interest rates combined with weaker-than-expected economic growth, which would squeeze household budgets and reduce buying power.
The early warning signs that would indicate such a downturn is beginning in Oslo include a sharp increase in days-on-market (above 60 days consistently), a sustained rise in the number of price reductions on listings, and a drop in bidding competition that pushes the sale-to-asking ratio below 98%.
Based on historical patterns, a potential downturn in Oslo could realistically result in price declines of 5% to 15% over 12 to 24 months, similar to the corrections seen in 2017 and 2022-2023, before the market stabilizes and begins to recover.
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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) - Price index for existing dwellings | It's Norway's official statistics agency and publishes the core national house price index. | We use it as the baseline for Oslo and Norway price momentum and longer-run context. We cross-check it against market-side indices to spot timing or coverage differences. |
| Eiendom Norge - Housing price statistics | It's the main national market tracker widely cited in Norway, with regular monthly releases. | We use it for market momentum signals (prices, volumes, time-to-sell) that update faster than some official series. We cross-check it with SSB to avoid over-reading one index. |
| Norges Bank - Monetary Policy decisions | It's the central bank's official rate decision and forward guidance that directly affects mortgage rates. | We use it to frame the 2026 mortgage-rate environment, a key driver of demand. We connect rate guidance to plausible upside and downside scenarios for Oslo prices. |
| Oslo Municipality - Housing statistics | It's the city's official statistics portal, tailored specifically to Oslo. | We use it to add city-level detail where national series are too broad. We use it to validate claims about supply, stock mix, and construction trends in Oslo. |
| Finanstilsynet - Lending regulation explainer | It's the financial regulator explaining the mortgage and lending rules banks must follow. | We use it to outline the hard constraints that shape mortgage approvals. We use it to separate regulation from bank policy, which can be stricter for foreigners. |
| Kartverket - D-number for land registry | It's the land registry authority explaining the ID step foreigners often need to register ownership. | We use it to map the practical steps a foreign buyer must handle early. We treat it as the process truth for registration logistics. |
| Norwegian Tax Administration - Stamp duty | It's the tax authority stating the official document tax rate and how it's applied. | We use it to quantify transaction costs you cannot avoid when budgeting. We use it as the authoritative reference over blogs or calculators. |
| Oslo Municipality - Hovinbyen development | It's the city's official plan for Oslo's biggest inner-city expansion area. | We use it to flag where supply, jobs, and amenities are planned to grow. We use it to name specific neighborhoods where improvement has a concrete planning basis. |
| Oslo Municipality - Fornebubanen metro | It's the city's official page for a major transport megaproject. | We use it to identify which corridors get a structural demand boost from transit upgrades. We translate the project into neighborhood-level examples of who benefits. |
| Lovdata - The Condominium Act | It's Norway's official legal publishing source for current law text. | We use it to explain the legal baseline for short-term letting limits in condos. We use it to avoid relying on informal summaries of Airbnb rules. |
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