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.

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.

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.

Housing Index in Norway increased to 356.06 points in February from 350.30 points in January of 2025. This dataset provides the latest reported value for - Norway House Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

House prices in Norway fell by 1.4 percent and, according to the forecast, are expected to continue to fall until 2024. In 2023, properties were forecast to experience a decline in prices of 12 percent. In 2025, growth is projected to recover, rising to five percent.

House Price Index MoM in Norway decreased to 0.90 percent in February from 1.40 percent in January of 2025. This dataset includes a chart with historical data for Norway House Price Index MoM.

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.

Norway House Price Index: Stavanger, Bergen Og Trondheim: Multi Dwelling data was reported at 195.000 2000=100 in Dec 2008. This records a decrease from the previous number of 210.500 2000=100 for Sep 2008. Norway House Price Index: Stavanger, Bergen Og Trondheim: Multi Dwelling data is updated quarterly, averaging 99.900 2000=100 from Mar 1992 (Median) to Dec 2008, with 68 observations. The data reached an all-time high of 231.100 2000=100 in Mar 2007 and a record low of 38.100 2000=100 in Mar 1993. Norway House Price Index: Stavanger, Bergen Og Trondheim: 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.EB008: House Price Index: 2000=100.

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.

Norway House Price Index: HO: SB: Houses data was reported at 170.600 2000=100 in Dec 2008. This records a decrease from the previous number of 183.300 2000=100 for Sep 2008. Norway House Price Index: HO: SB: Houses data is updated quarterly, averaging 94.300 2000=100 from Mar 1991 (Median) to Dec 2008, with 72 observations. The data reached an all-time high of 197.700 2000=100 in Jun 2007 and a record low of 46.100 2000=100 in Dec 1992. Norway House Price Index: HO: SB: Houses data remains active status in CEIC and is reported by Statistics Norway. The data is categorized under Global Database’s Norway – Table NO.EB008: House Price Index: 2000=100.

Norway House Price Index: Stavanger: Detached Houses data was reported at 198.200 2005=100 in Dec 2016. This records an increase from the previous number of 188.700 2005=100 for Sep 2016. Norway House Price Index: Stavanger: Detached Houses data is updated quarterly, averaging 0.000 2005=100 from Mar 1992 (Median) to Dec 2016, with 100 observations. The data reached an all-time high of 216.800 2005=100 in Jun 2013 and a record low of 0.000 2005=100 in Dec 2004. Norway House Price Index: Stavanger: Detached Houses data remains active status in CEIC and is reported by Statistics Norway. The data is categorized under Global Database’s Norway – Table NO.EB006: House Price Index: 2005=100. Rebased from 2005=100 to 2015=100 Replacement series ID: 386601617

Norway House Price Index: Trondheim data was reported at 198.700 2005=100 in Dec 2016. This records a decrease from the previous number of 199.600 2005=100 for Sep 2016. Norway House Price Index: Trondheim data is updated quarterly, averaging 0.000 2005=100 from Mar 1992 (Median) to Dec 2016, with 100 observations. The data reached an all-time high of 199.600 2005=100 in Sep 2016 and a record low of 0.000 2005=100 in Dec 2004. Norway House Price Index: Trondheim data remains active status in CEIC and is reported by Statistics Norway. The data is categorized under Global Database’s Norway – Table NO.EB006: House Price Index: 2005=100. Rebased from 2005=100 to 2015=100 Replacement series ID: 386601687

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: Price to Income Ratio: sa data was reported at 110.132 2015=100 in Dec 2024. This records an increase from the previous number of 109.964 2015=100 for Sep 2024. Norway NO: Price to Income Ratio: sa data is updated quarterly, averaging 81.117 2015=100 from Mar 1978 (Median) to Dec 2024, with 188 observations. The data reached an all-time high of 117.770 2015=100 in Sep 2022 and a record low of 50.321 2015=100 in Mar 1993. Norway NO: Price to Income 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 nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database.

The house price index in Norway has increased since the first quarter of 2016, when it was at 102.86 index points. It had reached 149.75 index points in the first quarter of 2024.

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.

NO: Rent Price Index: sa data was reported at 125.522 2015=100 in Mar 2025. This records an increase from the previous number of 124.764 2015=100 for Dec 2024. NO: Rent Price Index: sa data is updated quarterly, averaging 70.310 2015=100 from Mar 1979 (Median) to Mar 2025, with 185 observations. The data reached an all-time high of 125.522 2015=100 in Mar 2025 and a record low of 22.251 2015=100 in Jun 1979. NO: Rent Price Index: 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.

In 2023, the Norway Real Estate Market reached a value of USD 64.8 million, and it is projected to surge to USD 84.7 million by 2030.

Norway House Price Index: Oslo and Baerum data was reported at 234.700 2005=100 in Dec 2016. This records an increase from the previous number of 228.900 2005=100 for Sep 2016. Norway House Price Index: Oslo and Baerum data is updated quarterly, averaging 91.850 2005=100 from Mar 1992 (Median) to Dec 2016, with 100 observations. The data reached an all-time high of 234.700 2005=100 in Dec 2016 and a record low of 24.400 2005=100 in Mar 1993. Norway House Price Index: Oslo and Baerum data remains active status in CEIC and is reported by Statistics Norway. The data is categorized under Global Database’s Norway – Table NO.EB006: House Price Index: 2005=100. Rebased from 2005=100 to 2015=100 Replacement series ID: 386601567

The house price index of Norway decreased sharply in the second half of 2021 and 2022, after rising in the previous year. In the first quarter of 2023, house prices decreased nominally for the first time since 2017. When accounting for inflation, the decrease was about 6.6 percent.