Oslo was the Norwegian city with the most expensive apartments and houses in 2024. In March that year, the average price per residential property in the Norwegian capital was approximately 6.4 million Norwegian kroner. The city above the polar circle, Tromsø ranked second, with housing units costing on average nearly 4.6 million Norwegian kroner. In 2019, there were over nine thousand dwellings sold in Norway. Housing types The largest share of Norwegian residential housing units in 2023 were detached houses, accounting for nearly half of the total housing market in the country. Moreover, a quarter of all occupied and vacant dwellings that year were blocks of flats and over one fifth were houses with two dwellings or row houses. Where are properties the most expensive? Within selected global property markets, Hong Kong had the most expensive housing prices in 2020. An average property would cost roughly 1.25 million U.S. dollars in the former British colony. Munich ranked second, where the average property price amounted to roughly one million U.S dollars.

The price of new Norwegian detached houses increased constantly, reaching about 42.5 thousand Norwegian kroner in 2022. Over the period from 2009 to 2022, the average price per square meter of new detached houses increased a lot. The tendency for used detached houses over the evaluated period was similar and the price per square meter increased every year.  How many buildings are there in Oslo? More and more residential buildings had been built in Oslo over the past decade. 67.4 thousand buildings were reported in 2009, whereas the corresponding figure in 2019 was approximately 72.1 thousand existing residences in the Norwegian capital.  Prices of different dwellings The prices of all types of dwellings increased from 2009 to 2020 in Norway. While detached houses seemed to be the most expensive dwelling type from 2009 to 2011, the figures had changed by 2020 and prices for multi-dwellings had the highest index in the country.

Graph and download economic data for Real Residential Property Prices for Norway (QNOR628BIS) from Q1 1970 to Q3 2024 about Norway, residential, HPI, housing, real, price index, indexes, and price.

Oslo was the Norwegian city with the highest average price per square meter for residential property in March 2024. The prices in the Norwegian capital reached over 94,000 Norwegian kroner per square meter. The country's average that year was around 54,000 Norwegian kroner.

The house price ratio in Norway fluctuated between 2012 and 2024. The ratio measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. Norway's index score in the first quarter of 2024 amounted to 110, which means that house price growth had outpaced income growth by 10 percent since 2015. This was lower than the average house price to income ratio in the Euro area 16.

The house prices of all house types in Norway increased steadily between 2009 and 2022, followed by a slight decline in 2023. Unlike houses, prices for multi-dwellings did not fall in 2023. Multi-dwelling were also the property type that experienced the strongest growth. At 148.3 index points, the index for multi-dwelling properties suggests an increase of 48 percent since 2015 - the baseline year. How much did Norwegians pay for dwellings in 2021? Oslo appeared to be the most expensive city by dwelling prices that year, followed by Tromsø and Bergen.  Number of residential buildings The number of residential buildings in Norway constantly increased during the past decade, peaking in 2023. There were nearly 1.6 million residences in the country. That was an increase of over 100 thousand units, compared to 2010. More than half of Norwegians lived in detached houses The share of residents by housing type was distributed unevenly in Norway in 2023. Approximately 55 percent of Norwegian citizens lived in detached houses, whereas 20 percent lived in multi-dwelling buildings. The least common housing type was houses with two dwellings that year.

The average transaction price of new housing in Europe was the highest in Norway, whereas existing homes were the most expensive in Austria. Since there is no central body that collects and tracks transaction activity or house prices across the whole continent or the European Union, not all countries are included. To compile the ranking, the source weighed the transaction prices of residential properties in the most important cities in each country based on data from their national offices. For example, in Germany, the cities included were Munich, Hamburg, Frankfurt, and Berlin. House prices have been soaring, with Sweden topping the ranking Considering the RHPI of houses in Europe (the price index in real terms, which measures price changes of single-family properties adjusted for the impact of inflation), however, the picture changes. Sweden, Luxembourg and Norway top this ranking, meaning residential property prices have surged the most in these countries. Real values were calculated using the so-called Personal Consumption Expenditure Deflator (PCE), This PCE uses both consumer prices as well as consumer expenditures, like medical and health care expenses paid by employers. It is meant to show how expensive housing is compared to the way of living in a country. Home ownership highest in Eastern Europe The home ownership rate in Europe varied from country to country. In 2020, roughly half of all homes in Germany were owner-occupied whereas home ownership was at nearly 97 percent in Romania or around 90 percent in Slovakia and Lithuania. These numbers were considerably higher than in France or Italy, where homeowners made up 65 percent and 72 percent of their respective populations.For more information on the topic of property in Europe, visit the following pages as a starting point for your research: real estate investments in Europe and residential real estate in Europe.

Norway House Price Index: Vestfold, Telemark and Viken data was reported at 143.500 2015=100 in Dec 2023. This records a decrease from the previous number of 149.600 2015=100 for Sep 2023. Norway House Price Index: Vestfold, Telemark and Viken data is updated quarterly, averaging 71.400 2015=100 from Mar 1992 (Median) to Dec 2023, with 128 observations. The data reached an all-time high of 157.700 2015=100 in Jun 2022 and a record low of 0.000 2015=100 in Dec 2004. Norway House Price Index: Vestfold, Telemark and Viken data remains active status in CEIC and is reported by Statistics Norway. The data is categorized under Global Database’s Norway – Table NO.EB004: House Price Index: 2015=100.

Norway House Price per Square Meter: Avg: Freeholder: Oslo: Multi Dwelling data was reported at 77,284.000 NOK in Jun 2018. This records an increase from the previous number of 73,855.000 NOK for Mar 2018. Norway House Price per Square Meter: Avg: Freeholder: Oslo: Multi Dwelling data is updated quarterly, averaging 50,208.500 NOK from Mar 2006 (Median) to Jun 2018, with 50 observations. The data reached an all-time high of 79,594.000 NOK in Mar 2017 and a record low of 34,258.000 NOK in Mar 2006. Norway House Price per Square Meter: Avg: Freeholder: Oslo: Multi Dwelling data remains active status in CEIC and is reported by Statistics Norway. The data is categorized under Global Database’s Norway – Table NO.P001: House Price per Square Meter.

House prices in Oslo, Norway, fluctuated between 2018 and 2024. In March 2024, house prices increased for the second year in a row, by 0.9 percent on an annual basis.

Norway NO: Standardised Price-Rent Ratio: sa data was reported at 167.018 Ratio in Dec 2024. This records an increase from the previous number of 165.870 Ratio for Sep 2024. Norway NO: Standardised Price-Rent Ratio: sa data is updated quarterly, averaging 87.960 Ratio from Mar 1979 (Median) to Dec 2024, with 184 observations. The data reached an all-time high of 178.048 Ratio in Jun 2022 and a record low of 45.498 Ratio in Mar 1993. Norway NO: Standardised Price-Rent Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Norway – Table NO.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Quarterly. Nominal house prices divided by rent price indices. The long-term average is calculated over the whole period available when the indicator begins after 1980 or after 1980 if the indicator is longer. This value is used as a reference value. The ratio is calculated by dividing the indicator source on this long-term average, and indexed to a reference value equal to 100.

O preço médio das casas na Noruega aumentou para 4.712.860 NOK em janeiro, em comparação com 4.245.124 NOK em dezembro de 2024. Valores atuais, dados históricos, previsões, estatísticas, gráficos e calendário econômico - Noruega - Preços médios de habitação.

The average price per square meter of used detached houses in Norway in constantly increased over the period from 2009 to 2020. The tendency for new detached houses prices was similar in the evaluated period. As of 2020, the average price per square meter for detached houses amounted at roughly 26.4 thousand Norwegian kronor.

House prices in Stavanger and the surrounding area, Norway, fluctuated between 2018 and 2024. In March 2024, house prices rose for the fourth year in a row, by 0.2 percent on an annual basis.

Norway Lease Transfer: Holiday Properties: Average Price per Transfer data was reported at 1,724.000 NOK th in Sep 2018. This records an increase from the previous number of 1,701.000 NOK th for Jun 2018. Norway Lease Transfer: Holiday Properties: Average Price per Transfer data is updated quarterly, averaging 1,229.000 NOK th from Mar 2000 (Median) to Sep 2018, with 75 observations. The data reached an all-time high of 1,760.000 NOK th in Mar 2017 and a record low of 489.000 NOK th in Dec 2000. Norway Lease Transfer: Holiday Properties: Average Price per Transfer data remains active status in CEIC and is reported by Statistics Norway. The data is categorized under Global Database’s Norway – Table NO.EB001: Property Transfer.

The average import price for bearing housings incorporating ball or roller bearings stood at $30,075 per ton in August 2024, therefore, remained relatively stable against the previous month.

The United Kingdom (UK) is the most expensive European country for annual costs of prime industrial rent at about 300 euros per square meter of industrial space in London Heathrow per year in 2023. Switzerland, Norway, Ireland, Finland, and Luxembourg were the other European countries where the average annual cost of industrial prime rents in the capital city exceeded one hundred euros per square meter.

Oslo was the Norwegian city with the highest rental prices in the country in 2024. Renting an apartment in the Norwegian capital cost nearly 29,000 Norwegian kroner per month on average, whereas Bergen ranked second, with an average monthly rent of 24,000 Norwegian kroner. The average price of residential housings in Norway was also highest in Oslo. The Nordic market Not only was Oslo the city with the highest rents in Norway, but also in the Nordic region. The capital cities of Denmark (Copenhagen) and Finland (Helsinki) ranked second and third respectively, whereas Stockholm ranked last within a list of 12 Nordic cities. In contrast, Stockholm was the most expensive city to buy an apartment in. Homeownership in Norway The high renting prices in the Norwegian capital could be explained by the renting market trends in the country. The homeownership rate fluctuated over the past decade, but overall decreased, reaching its lowest rate so far in 2020.

New residential housing price in Oslo were on average 171 percent of the national average price in Norway in 2018 and represented the largest difference in average transaction price of new residential properties in the country that year. The corresponding figure for Bergen was 112 percent during the evaluated period.

House prices in Bergen, Norway, increased for the third consecutive year in 2024. In March that year, the average house price increased by 2.7 percent.