Norway real estate market — prices, rental yield and trend
- Average price: $7,288 / m²
- Gross rental yield: 4.39%
- 12-month price change (USD): 10.6%
- Net rental yield: 3.42%
- Transaction cost: 3.6%
- Price basis: national average
Residential property in Norway averages $7,288 per square metre, +10.6% in dollar terms over the last twelve months. That makes it the 12th most expensive of the 131 markets in the set. In local currency the same twelve months read +4.2%; the 6.4-point gap is the exchange rate, not the housing market.
What a buyer pays in Norway
The $7,288 figure is a national average across all residential property types, which flattens a wide spread — the capital typically runs far above it and small towns far below. Buying costs — transfer tax or stamp duty, notary, registration and agency — come to about 3.6% of the price here. On a 100 m² apartment at the average price that is roughly $26,235 on top of the $728,760 purchase price. That is below the 9.5% median across the set, which shortens the time it takes for a purchase to break even. Inside Norway we also track Oslo separately, where the average is $11,701 — 60.6% above the national figure.
What it earns
A square metre lets for about $26.7 a month. Against a purchase price of $7,288 per square metre that is 4.4% gross, before tax. Both figures come from the same source and the same period, so you can check the arithmetic yourself. It ranks 112th of 151 markets by gross yield. Rental income is taxed at 22%, which takes the yield down to 3.4% net. The 1-point difference between the gross and net figure is the part most listing sites leave out.
How the tax works. Net rental income (gross rent less actual expenses) from Norwegian property is taxed as general income at a flat 22%; non-residents are taxed on Norwegian real-property income at the same rate. There is no lump-sum expense allowance. Sources: PwC Tax Summaries Norway (general income 22%, last reviewed 2026-09-03); Global Property Guide Norway.
Where the price sits against its own history
Prices are +16.1% over five years and +25.8% over ten in local terms.
Norway house price index, 2016–2025 (2016 = 100)
| Year | Index |
|---|---|
| 2016 | 100 |
| 2017 | 105.4 |
| 2018 | 107.1 |
| 2019 | 111.4 |
| 2020 | 116.9 |
| 2021 | 127.6 |
| 2022 | 135.1 |
| 2023 | 136.8 |
| 2024 | 141.7 |
| 2025 | 149.9 |
Rebased to 100 in 2016, the index stands at 149.9 in 2025. The series is in local currency, and the twelve-month numbers above show how much of that a dollar buyer actually keeps.
How this figure is built
The price figure for Norway is built from recorded transaction prices. It was last refreshed on 2026-10-15. We rate our confidence in this market’s data high: the underlying series is official and current. We recompute every market the same way; a figure that fails our checks is suppressed, not guessed.
Sources: SSB 06035 [https://data.ssb.no/api/pxwebapi/v2/tables/06035/data?lang=en&valueCodes[Region]=0&valueCodes[Boligtype]=01,02,03&valueCodes[ContentsCode]=KvPris,Omsetninger&valueCodes[Tid]=2023,2024&outputFormat=csv]; SSB rental market survey [https://www.ssb.no/en/priser-og-prisindekser/boligpriser-og-boligprisindekser/statistikk/leiemarkedsundersokelsen]; Eurostat prc_hpi_a NO [https://ec.europa.eu/eurostat/api/dissemination/statistics/1.0/data/prc_hpi_a?format=JSON&purchase=TOTAL&unit=I15_A_AVG&geo=NO&sinceTimePeriod=2016&lang=en]; Eurostat prc_hpi_q RCH_A NO [https://ec.europa.eu/eurostat/api/dissemination/statistics/1.0/data/prc_hpi_q?format=JSON&purchase=TOTAL&unit=RCH_A&sinceTimePeriod=2025-Q3&lang=en&geo=NO]; Eurostat ert_bil_eur_a (USD, NOK); FX api.frankfurter.dev; PwC Tax Summaries NO [https://taxsummaries.pwc.com/norway/individual/taxes-on-personal-income]; GPG costs [https://www.globalpropertyguide.com/europe/norway/taxes-and-costs]. Snapshot: 2026-10-15.
Related markets: Oslo