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
If you're thinking about buying a rental property in Oslo, understanding the actual yields you can expect is essential before making any investment decision.
This article breaks down gross and net rental yields across Oslo's neighborhoods and property types, using the latest available data from early 2026.
We keep this blog post constantly updated so you always have access to fresh numbers and realistic benchmarks for Oslo's rental 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 Oslo.
Insights
- Oslo's average gross rental yield sits around 3.3% in early 2026, which is low by global standards but typical for a capital city where buyers prioritize long-term demand stability over immediate cash flow.
- The gap between Oslo's inner west and outer east neighborhoods can reach 2.5 percentage points in gross yield, with areas like Stovner and Grorud offering nearly double the returns of Frogner or Ullern.
- Studios and small one-bedroom apartments in Oslo consistently outperform larger units on yield per square meter because rent per m² stays strong while purchase prices remain relatively affordable.
- Oslo landlords should budget around 4% to 8% of annual rent for vacancy and turnover costs, even though the market is tight and well-priced units rarely sit empty for long.
- Full-service property management in Oslo typically costs around 9% of monthly rent plus setup fees, which can reduce net yields by roughly one full percentage point.
- The Ensjøbyen redevelopment is adding up to 7,000 new homes in the Gamle Oslo area, which could gradually shift the neighborhood's rental profile and push rents upward as quality improves.
- Oslo's rent-to-price ratio hovers around 0.28% per month, meaning investors need roughly 360 months of rent to recover their purchase price before accounting for costs.
- Net yields in Oslo typically range from 1.8% to 2.8%, with HOA fees and maintenance eating up the largest share of gross income for apartment investors.
What are the rental yields in Oslo as of 2026?
What's the average gross rental yield in Oslo as of 2026?
As of early 2026, the average gross rental yield for residential property in Oslo sits at approximately 3.3%, which reflects the city's high purchase prices relative to the rents landlords can charge.
Most typical residential properties in Oslo fall within a realistic gross yield range of 3.0% to 3.8%, depending on the neighborhood, property type, and how well-priced the purchase was.
Compared to Norway as a whole, Oslo's gross yields tend to be lower because the capital commands premium prices that outpace rent growth, making it a tighter market for cash flow investors than smaller Norwegian cities.
The single biggest factor currently shaping gross rental yields in Oslo is the gap between rapidly rising property prices and rents that, while strong, simply don't keep pace with what buyers pay per square meter.
What's the average net rental yield in Oslo as of 2026?
As of early 2026, the average net rental yield for residential property in Oslo is approximately 2.2%, once you subtract the recurring costs most landlords face.
The typical gap between gross and net yields in Oslo runs about 1.0 to 1.5 percentage points, which means landlords lose roughly a third of their gross income to unavoidable expenses.
The expense category that cuts deepest into Oslo landlords' returns is HOA and common costs (felleskostnader), especially for apartment owners in borettslag structures where monthly fees can be substantial.
Most standard investment properties in Oslo deliver net yields in the 1.8% to 2.8% range, with the lower end reflecting prime-area apartments burdened by high fees and the upper end representing well-bought properties with efficient cost structures.
By the way, you will find much more detailed rent ranges in our property pack covering the real estate market 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 yield is considered "good" in Oslo in 2026?
In Oslo's early 2026 market, a gross rental yield of around 4% or higher is generally considered good by local investors, though achieving this usually requires buying in less premium neighborhoods or finding underpriced properties.
The threshold that separates average-performing properties from high-performing ones in Oslo sits at roughly 5% gross yield, but reaching this level typically means accepting trade-offs like smaller unit sizes, outer locations, or value-add renovation work.
How much do yields vary by neighborhood in Oslo as of 2026?
As of early 2026, the spread in gross rental yields between Oslo's highest-yield and lowest-yield neighborhoods can reach 2.5 percentage points, ranging from around 2.5% in prime western areas to nearly 5.0% in outer eastern districts.
The neighborhoods that typically deliver the highest rental yields in Oslo are the outer east and value-oriented areas like Stovner, Grorud, Alna, and Søndre Nordstrand, where lower entry prices combine with stable local renter demand.
Conversely, the lowest rental yields in Oslo are found in the prestigious inner west neighborhoods such as Frogner (including Majorstuen), Ullern, St. Hanshaugen, and prime waterfront areas like Bjørvika, where buyers pay steep location premiums.
The main reason yields vary so dramatically across Oslo neighborhoods is that purchase price premiums in the west far exceed the corresponding rent premiums, which mechanically compresses yields in prestigious areas while boosting them in more affordable districts.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Oslo.
How much do yields vary by property type in Oslo as of 2026?
As of early 2026, gross rental yields across different property types in Oslo range from around 2.5% for detached houses in premium areas to approximately 4.5% or higher for well-located studios and small one-bedroom apartments.
Studios and compact one-bedroom units currently deliver the highest average gross rental yield in Oslo because they command strong rent per square meter while requiring a relatively modest capital outlay compared to larger properties.
Detached houses and larger family homes currently deliver the lowest average gross rental yield in Oslo because these are often lifestyle purchases where the rent simply doesn't compensate for the substantial capital tied up in the property.
The key reason yields differ between property types in Oslo is that rent does not scale proportionally with size or price, meaning smaller units generate more income per krone invested than larger, more expensive properties.
By the way, you might want to read the following:
What's the typical vacancy rate in Oslo as of 2026?
As of early 2026, the estimated residential vacancy rate in Oslo for well-priced units runs between 1.5% and 2.5% in a typical month, reflecting the city's persistently tight rental market.
Vacancy rates across different Oslo neighborhoods can range from near zero in high-demand central areas to around 3% to 4% in some outer districts where tenant pools are smaller and turnover may be higher.
The main factor currently keeping Oslo's vacancy rates low is a significant reduction in available rental supply, with fewer landlords putting properties on the market while renter competition has intensified dramatically.
Compared to other major Norwegian cities, Oslo's vacancy rate is among the lowest, which gives landlords more pricing power but also means competition for good rental properties is fierce among investors.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Oslo.
What's the rent-to-price ratio in Oslo as of 2026?
As of early 2026, the average monthly rent-to-price ratio in Oslo sits at approximately 0.28%, meaning landlords collect about 0.28% of their property's purchase price in rent each month.
A rent-to-price ratio above 0.30% per month is generally considered favorable for buy-to-let investors in Oslo, as this translates directly to a gross yield above 3.6%, and since this ratio simply expresses the yield in monthly terms, higher ratios mean better immediate cash flow.
Compared to other Nordic capitals and major European cities, Oslo's rent-to-price ratio is relatively low, which reflects the premium valuations buyers place on property in Norway's capital and the corresponding compression of yields.
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 neighborhoods and micro-areas in Oslo give the best yields as of 2026?
Where are the highest-yield areas in Oslo as of 2026?
As of early 2026, the top three highest-yield neighborhoods in Oslo are Stovner, Grorud, and Alna in the Groruddalen valley, along with Søndre Nordstrand in the outer south, where lower entry prices combine with solid everyday renter demand.
In these top-performing areas like Stovner, Grorud, and Søndre Nordstrand, landlords can expect average gross rental yields in the range of 3.8% to 5.0%, which is notably higher than Oslo's citywide average.
The main characteristic these high-yield areas share is their position outside the premium western core, meaning purchase prices are more accessible while local amenities, transit connections, and family-oriented demand keep rental income stable.
You'll find a much more detailed analysis of the areas with high profitability potential in our property pack covering the real estate market in Oslo.
Where are the lowest-yield areas in Oslo as of 2026?
As of early 2026, the top three lowest-yield neighborhoods in Oslo are Frogner (including Majorstuen), Ullern, and the prime waterfront area of Bjørvika, where buyers pay significant location premiums that rents don't fully offset.
In these low-yield areas like Frogner and Ullern, landlords typically see average gross rental yields in the range of 2.5% to 3.2%, which can make cash flow challenging without significant appreciation expectations.
The main reason yields are compressed in these prestigious Oslo neighborhoods is that purchase prices reflect lifestyle desirability and scarcity value, while rents, although high in absolute terms, don't rise proportionally to match those premium valuations.
Buying a property in a low-yield area is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Oslo.
Which areas have the lowest vacancy in Oslo as of 2026?
As of early 2026, the top three neighborhoods with the lowest residential vacancy rates in Oslo are St. Hanshaugen, Grünerløkka, and Sagene, where proximity to central amenities and excellent transit connections create intense renter competition.
In these low-vacancy areas, landlords can expect vacancy rates well below 1.5%, with well-priced units often receiving multiple inquiries within days of listing.
The main demand driver keeping vacancy low in areas like St. Hanshaugen and Grünerløkka is the concentration of young professionals and students who prioritize walkability, nightlife access, and short commutes over living space.
The trade-off investors typically face when targeting these low-vacancy neighborhoods is that the security of constant occupancy comes with lower yields, since the same desirability that attracts renters also drives up purchase prices.
Which areas have the most renter demand in Oslo right now?
The top three neighborhoods currently experiencing the strongest renter demand in Oslo are Grünerløkka, St. Hanshaugen, and Majorstuen, where small central apartments attract an overwhelming number of inquiries per listing.
The renter profile driving most of this demand consists of young professionals, couples without children, and students who prioritize central locations with easy access to workplaces, nightlife, and public transport.
In these high-demand neighborhoods, well-priced rental listings typically get filled within days rather than weeks, with landlords often receiving multiple applications before they can even schedule viewings.
If you want to optimize your cashflow, you can read our complete guide on how to buy and rent out in Oslo.
Which upcoming projects could boost rents and rental yields in Oslo as of 2026?
As of early 2026, the top three upcoming projects expected to boost rents in Oslo are the Ensjøbyen redevelopment with up to 7,000 new homes, the Fornebubanen metro extension improving west-side connectivity, and the New Oslo University Hospital program creating major healthcare employment hubs.
The neighborhoods most likely to benefit from these projects include Ensjø and Tøyen in Gamle Oslo for the Ensjøbyen development, Skøyen and Majorstuen for Fornebubanen access, and the areas surrounding Aker and Gaustad for the hospital expansion.
Investors in these areas might realistically expect rent increases of 5% to 15% above normal growth trajectories once these projects reach completion milestones, though the timing will vary as infrastructure and housing phases roll out over several years.
You'll find our latest property market analysis about Oslo here.
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What property type should I buy for renting in Oslo as of 2026?
Between studios and larger units in Oslo, which performs best in 2026?
As of early 2026, studios and small one-bedroom apartments in Oslo outperform larger units in terms of both rental yield and occupancy, thanks to strong demand from singles, students, and young professionals willing to pay premium rents per square meter.
Studios in Oslo typically deliver gross rental yields of 3.5% to 4.5% (roughly 175,000 to 225,000 NOK annual rent, or about 15,000 to 19,000 EUR / 16,000 to 21,000 USD), while larger two and three-bedroom apartments often yield only 2.8% to 3.5%.
The main factor explaining why studios outperform in Oslo is that rent per square meter stays high for compact units while purchase prices remain more accessible, creating a more favorable income-to-capital ratio.
However, larger family apartments might be the better choice if you're targeting long-term tenants like families priced out of buying, since they tend to stay for years and create less turnover cost than the revolving door of single renters in studios.
What property types are in most demand in Oslo as of 2026?
As of early 2026, two-bedroom apartments are the most in-demand property type in Oslo, attracting the largest pool of renters including couples, young professionals, and roommate arrangements.
The top three property types ranked by current tenant demand in Oslo are two-bedroom apartments, small one-bedroom units and studios, and three-bedroom family apartments, in that order.
The primary trend driving this demand pattern in Oslo is the combination of high housing costs that keep many would-be buyers in the rental market and a growing population of young professionals who need central locations near work but can't afford to purchase.
Large detached houses are currently underperforming in rental demand and likely to remain so, since families who can afford such rents typically prefer to buy, leaving landlords with a smaller tenant pool and longer vacancy periods.
What unit size has the best yield per m² in Oslo as of 2026?
As of early 2026, the unit size range that delivers the best gross rental yield per square meter in Oslo is approximately 25 to 55 m², covering studios and compact two-room apartments.
For this optimal unit size in Oslo, the typical gross rental yield per m² translates to roughly 280 to 320 NOK of annual rent per m² invested at current prices, which works out to around 24 to 27 EUR or 26 to 30 USD per m² annually.
The main reason larger units have lower yield per m² is that while purchase prices stay high per square meter, rents soften as size increases because tenants won't pay proportionally more for extra space they don't strictly need.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable 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 costs cut my net yield in Oslo as of 2026?
What are typical property taxes and recurring local fees in Oslo as of 2026?
As of early 2026, the annual property tax for a typical rental apartment in Oslo varies based on the municipality's tax valuation system, but landlords should budget roughly 3,000 to 8,000 NOK per year (approximately 250 to 680 EUR or 280 to 750 USD) depending on the property's assessed value.
Beyond property tax, Oslo landlords must also budget for monthly HOA fees (felleskostnader) that can range from 2,000 to 6,000 NOK per month for apartments, covering building maintenance, shared utilities, and common area upkeep.
Combined, these taxes and recurring fees typically represent 10% to 20% of gross rental income in Oslo, which is a significant drag on net yield that many new investors underestimate.
By the way, we cover all the hidden fees and taxes in our property pack covering the real estate market in Oslo.
What insurance, maintenance, and annual repair costs should landlords budget in Oslo right now?
Annual landlord insurance for a typical rental property in Oslo costs approximately 2,000 to 6,000 NOK (roughly 170 to 510 EUR or 185 to 560 USD), though this varies based on the building type, coverage level, and whether you declare that you're renting out.
As a rule of thumb, Oslo landlords should budget 0.5% to 1.0% of the property's value annually for maintenance and repairs, which for a 5 million NOK apartment means setting aside 25,000 to 50,000 NOK per year (about 2,100 to 4,250 EUR or 2,300 to 4,700 USD).
The repair expense that most commonly catches Oslo landlords off guard is bathroom and kitchen upgrades, since these high-cost Nordic standards need refreshing every 15 to 20 years and can easily run 100,000 to 300,000 NOK when the time comes.
In total, landlords should realistically budget 30,000 to 60,000 NOK annually (2,550 to 5,100 EUR or 2,800 to 5,600 USD) for insurance, maintenance, and a repair reserve to avoid unpleasant surprises.
Which utilities do landlords typically pay, and what do they cost in Oslo right now?
In most Oslo rentals, tenants pay their own electricity and internet, while landlords cover common costs (felleskostnader) that may include shared heating, hot water if centrally supplied, and building maintenance.
The landlord-paid portion typically runs 2,000 to 6,000 NOK per month (roughly 170 to 510 EUR or 185 to 560 USD) depending on the building structure, though this is usually bundled into the HOA fees rather than paid as separate utility bills.
What does full-service property management cost, including leasing, in Oslo as of 2026?
As of early 2026, full-service property management in Oslo typically costs around 9% of monthly rent on an ongoing basis, which for a 15,000 NOK monthly rent means roughly 1,350 NOK per month (about 115 EUR or 125 USD).
On top of ongoing management, landlords should expect a separate tenant-placement or leasing fee that often equals one month's rent or a fixed establishment fee of 5,000 to 15,000 NOK (425 to 1,275 EUR or 465 to 1,400 USD) each time a new tenant is found.
What's a realistic vacancy buffer in Oslo as of 2026?
As of early 2026, landlords in Oslo should set aside approximately 4% to 8% of annual rental income as a vacancy buffer, even though the market is tight and well-priced units rarely sit empty for extended periods.
In practical terms, this translates to roughly two to four weeks of vacancy per year when you account for tenant turnover, repainting between tenancies, and the time needed to find and screen new renters.
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.
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) - Rental Market Survey (LMU) | It's Norway's official statistics agency, and LMU is the national reference for rent levels across the country. | We used it as our anchor dataset for rent levels in Oslo and for understanding how rents differ across neighborhoods. We also relied on its methodology notes to avoid mixing different rent measurement approaches. |
| SSB - Article on Oslo Rents and Borough Differences (LMU 2024) | It's an official SSB publication that explains the methodology behind predicted comparable rents across Oslo boroughs. | We used the standard 2-room, 50 m² rent benchmark and the stated borough gap as concrete, easy-to-understand reference points for yield differences. We also used it to explain why rents differ within Oslo. |
| SSB Statbank - Table 09895 (LMU Time Series) | It's SSB's official data table for the LMU rent series, making it transparent and independently verifiable. | We used it to cross-check that our rent-per-m² assumptions fall within a realistic Oslo range. We also used it to verify room-size patterns between small and larger units. |
| SSB Statbank - Table 14310 (Prices per m² by Dwelling Type) | It provides official transaction-based statistics for prices per square meter by municipality and dwelling type. | We used it as an official backbone for Oslo price levels by property type. We then combined it with market trackers to align with early 2026 timing. |
| Eiendom Norge - Housing Price Statistics | It's the main Norwegian housing price dataset, widely used by banks and media, built from extensive market coverage. | We used it to understand the latest market direction going into year-end 2025. We also used it as a cross-check against SSB price metrics to ensure consistency. |
| EiendomsMegler 1 - Dec 2025 Housing Price Statistics | It clearly states its source as Eiendom Norge, Eiendomsverdi, and FINN, and timestamps the latest available month. | We used it to anchor where the market stood at the end of 2025, right before our January 2026 viewpoint. We also used it to avoid relying on outdated price snapshots. |
| Krogsveen - Oslo Monthly Price Statistics | It's a major national brokerage that transparently discloses its underlying sources from Eiendom Norge, Eiendomsverdi, and FINN. | We used the displayed Oslo price per m² of roughly 98,800 NOK as a practical early 2026 price anchor. We then computed yields by combining this with rent benchmarks. |
| NEF - Press Release on Shrinking Rental Supply | It's the national industry body for real estate agents and references concrete counts and changes in rental stock proxies. | We used it to support the tight market narrative, which matters for vacancy and rent growth assumptions. We treated it as contextual evidence rather than our only numeric input. |
| Finansavisen - Article on FINN Rental Supply/Demand Signals | It's a major financial newspaper that explicitly attributes key claims to FINN, Norway's dominant listings marketplace. | We used it to triangulate vacancy and market tightness qualitatively. We did not treat it as an official vacancy statistic but as supporting market evidence. |
| Oslo Municipality - Ensjøbyen Redevelopment | It's the city's official planning communication for a major housing growth area with up to 7,000 new homes. | We used it to identify where supply and neighborhood quality are changing, which can shift rents and yields. We also used it to provide concrete micro-area examples. |
| Oslo Municipality - Fornebubanen Project Page | It's the official city page for one of the region's biggest transport infrastructure projects. | We used it to explain why areas around Skøyen and the west-side corridor may see changed renter demand. We kept it practical by focusing on who benefits and how that shows up in rents. |
| Oslo University Hospital - New Hospital Projects Timeline | It's the official hospital authority describing major public investment timelines with milestones through 2026 to 2031. | We used it to flag demand drivers near Aker and Gaustad-type hubs where more jobs mean more renters. We translated this into watch areas for rent pressure. |
| Helse Sør-Øst - Nye Aker / Nye Rikshospitalet Program | It's the regional health authority running Norway's largest hospital owner and operator structure. | We used it to confirm the scale and long-term certainty of the hospital build-out. We used that as credibility backing for the demand story in surrounding neighborhoods. |
| Lovdata - Oslo Municipality Property Tax Regulation 2026 | Lovdata is the official, verifiable publication of Norwegian laws and regulations. | We used it to ground property tax assumptions for 2026 as a real net-yield cost line. We avoided blog interpretations by going straight to the legal text. |
| Skatteetaten - Guidance on Housing Wealth Value (Formuesverdi) | It's the Norwegian Tax Administration's official guidance used in actual tax practice. | We used it to explain what tax bases look like in Norway, which is important for net-yield math. We also used it to clarify why taxes don't scale one-to-one with market value. |
| Krogsveen - Rental Management Price List | It's a major brokerage and the page lists explicit fees in plain language. | We used it to anchor property management cost ranges, which are a key net-yield driver. We also used it to avoid vague typical fee claims. |
| SpareBank 1 - Rental Insurance Guidance | It's a major Norwegian bank clearly stating that rental properties require declared coverage with different risk treatment. | We used it to anchor landlord insurance cost ranges. We also used it to ensure readers understand that renting out requires specific insurance disclosure. |
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