Graph and download economic data for Residential Property Prices for Norway (QNON628BIS) from Q1 1970 to Q2 2025 about Norway, residential, HPI, housing, price index, indexes, and price.

Average House Prices in Norway decreased to 4873238 NOK in October from 4993572 NOK in September of 2025. This dataset includes a chart with historical data for Norway Average House Prices.

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 *** million Norwegian kroner. The city above the polar circle, Tromsø ranked second, with housing units costing on average nearly *** 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 **** million U.S. dollars in the former British colony. Munich ranked second, where the average property price amounted to roughly *********** U.S dollars.

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 ***** index points, the index for multi-dwelling properties suggests an increase of ** 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 *** 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 ** percent of Norwegian citizens lived in detached houses, whereas ** percent lived in multi-dwelling buildings. The least common housing type was houses with two dwellings that year.

Housing Index in Norway decreased to 356.79 points in October from 358.29 points in September 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.

Key information about House Prices Growth

• Norway house prices grew 5.0% YoY in Sep 2025, following an increase of 4.5% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 1993 to Sep 2025, with an average growth rate of -1.5%.
• House price data reached an all-time high of 21.2% in Mar 2000 and a record low of -6.9% in Dec 2008.

House prices in Norway fell by *** 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 ** percent. In 2025, growth is projected to recover, rising to **** percent.

Residential Property Prices in Norway increased 4.54 percent in June of 2025 over the same month in the previous year. This dataset includes a chart with historical data for Norway Residential Property Prices.

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.

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 *** percent.

The Scandinavian real estate market, encompassing countries like Sweden, Norway, Denmark, Finland, and Iceland, exhibits robust growth potential, fueled by a combination of factors. A consistently strong CAGR exceeding 5% indicates a healthy and expanding market. Key drivers include increasing urbanization, a growing population, particularly in major cities like Oslo, Stockholm, and Copenhagen, and a sustained demand for both residential and commercial properties. Furthermore, government policies supporting sustainable development and infrastructure projects contribute to the market's positive trajectory. The market is segmented into villas and landed houses, which often command higher prices due to limited supply and desirable locations, and apartments and condominiums, catering to a broader range of buyers and representing a larger portion of the market. The dominance of established players like Riksbyggen, OBOS BBL, and Balder highlights the market's maturity, yet the presence of smaller, more agile companies signifies ongoing competition and innovation. While data on exact market size is unavailable, a conservative estimation placing the 2025 market value at approximately €150 Billion ( based on general European real estate market values and applying the provided CAGR) seems plausible. Further growth is expected, driven by continued economic stability and ongoing investment in the region's infrastructure. Looking forward, the Scandinavian real estate market is expected to face some challenges, including rising interest rates impacting affordability, and potential fluctuations in the global economy. However, the strong underlying fundamentals of population growth, limited land availability in desirable urban areas, and continued investment in infrastructure suggest resilience and continued expansion. The market's diversity, with a mix of large established companies and smaller players, ensures a competitive landscape and capacity for adaptation. Trends toward sustainable construction and smart homes will likely play an increasingly significant role in shaping the future of the market, with companies prioritizing environmentally friendly practices and technologically advanced properties. Segmentation within the market will continue to be relevant, with the demand for specific property types varying across regions and based on changing demographic needs. Key drivers for this market are: 4., Increasing manufacturing sites4.; The increasing middle-income group and access to mortgage finance. Potential restraints include: 4., Rising cost of construction materials.. Notable trends are: Growing Housing Market in Norway to Drive the Market.

Scandinavian Residential Real Estate Market is Segmented by Property Type (Apartments & Condominiums, and Villas & Landed Houses), by Price Band (Affordable, Mid-Market, and Luxury), by Business Model (Sales and Rental), by Mode of Sale ( Primary (New-Build) and Secondary (Existing-Home Resale)), and by Country (Norway, Sweden, and Denmark). The Market Forecasts are Provided in Terms of Value (USD).

The Scandinavian commercial property market, encompassing Denmark, Norway, and Sweden, presents a dynamic investment landscape characterized by a robust 7.41% CAGR (2019-2033). Key drivers include strong economic performance in the Nordic region, increasing urbanization leading to higher demand for office, retail, and residential spaces, and a growing logistics sector fueled by e-commerce expansion. Significant investment in sustainable and technologically advanced buildings further contributes to market growth. While the market enjoys considerable strength, potential restraints include fluctuations in global economic conditions, increasing construction costs, and potential regulatory changes affecting property development. The market is segmented by property type (offices, retail, industrial, logistics, multi-family, hospitality) and geography (Denmark, Norway, Sweden, with key cities like Oslo, Stockholm, and Copenhagen exhibiting high activity). Major players include developers like Vasakronan AB, Jeudan A/S, Citycon, and NREP (Logicenters), alongside significant real estate agencies such as CBRE, Europages, and Colliers International. The presence of smaller, innovative companies and startups also adds dynamism to the sector. The regional breakdown reveals that while the Nordics are the core market, international investment continues to play a role. The high CAGR suggests that the market will continue its upward trajectory, although potential economic downturns could moderate growth in specific years. Analysis of individual cities within each country is crucial for a granular understanding of market opportunities and risks. For example, Oslo's burgeoning tech scene might drive higher office demand, while Stockholm’s strong retail sector could impact shopping center valuations. Investors should carefully assess the specific sub-markets within the broader Scandinavian commercial property landscape to identify the most promising investment opportunities and effectively manage associated risks. A focus on sustainability and technological integration will likely be critical for success in this evolving market. Notable trends are: Increase in Transaction Volume in the Office Market of Scandinavian Countries.

Real residential property prices Y-on-Y, percent change in Norway, June, 2025 The most recent value is 1.67 percent as of Q2 2025, a decline compared to the previous value of 3.54 percent. Historically, the average for Norway from Q1 1993 to Q2 2025 is 4.24 percent. The minimum of -10.11 percent was recorded in Q4 2008, while the maximum of 17.78 percent was reached in Q1 2000. | TheGlobalEconomy.com

Comprehensive real estate market data and investment metrics for Norway

The investments in the industrial and logistic real estate sector in Norway halved in 2022, after peaking in 2021. In 2022, a total of *** billion euros were invested in warehouses over ***** square meters in Norway. Compared to other European countries, Norway ranked alongside the Netherlands and Poland.

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 ****** Norwegian kroner per square meter. The country's average that year was around ****** Norwegian kroner.

Norway Property and Casualty Insurance Market is Segmented by Product Type (Property, Motor, Liability, Accident & Health, and More), Distribution Channel (Direct, Agency / Broker, Banks, and More), Customer Type (Individual, Commercial & Industrial, and Public Sector), and Region (Eastern Norway, Western Norway, Southern Norway, and More). The Market Forecasts are Provided in Value (USD).

The Scandinavian Commercial Real Estate Market Report is Segmented by Property Type (Offices, Retail and More), by Business Model (Rental and Sales), by End User (Individuals / Households and More) and by Country (Denmark, Norway and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

The House Price Index YoY in Norway measures the annual percentage change in residential property prices, reflecting trends in the housing market.-2025-01-06