Apartments in Norway have become cheaper. But not everywhere
Apartment prices in Norway fell by 2.6 percent in July. However, this does not mean that it suddenly became cheaper across the whole country. In Oslo, buyers now have more time and more room to negotiate. In Tromsø and Bergen, there is still a shortage of listings, and good apartments disappear quickly from the market.
The amount of property tax began to rise sharply when Erna Solberg became prime minister.
MN
After accounting for the usual summer drop, prices in July were 1.1 percent lower. Despite this, since the beginning of the year, apartments across Norway are still 2.8 percent more expensive.
Oslo: easier to negotiate
In Oslo, prices have fallen by about 0.8 percent since the beginning of the year. There are more apartments on the market, and sales take longer than before.
This is good news for someone who is just looking for an apartment. You no longer have to assume that every bidding round will end with a price much higher than the listing.
In practice, it's worth calmly comparing several offers and checking not only the prisantydning, but also the total price, shared debt, and monthly fees.
Tromsø: a completely different situation
In Tromsø, prices are still rising. In July, after seasonal adjustment, they increased by 0.5 percent, and since the beginning of the year they are about 9.7 percent higher.
The problem is the small number of apartments for sale. In July, there were about 65 listings available, while a year earlier there were 104.
If you are looking for an apartment in Tromsø, it's good to have a ready financing certificate and a pre-set maximum amount. With so few listings, bidding can start quickly.
Bergen: good apartments don't wait long
In Bergen, the average selling time in July was only 17 days. For comparison, the average for all of Norway was 62 days.
This means that an attractive apartment may disappear before you have time to arrange financing. That's why it's worth having a bank decision even before your first viewing.
What does this mean?
The most important thing today is not that 'prices in Norway have fallen,' but where you are buying or selling.
- Oslo: more listings and a greater chance to negotiate.
- Tromsø: few apartments and still high prices.
- Bergen: fast sales and little time to decide.
- Ålesund: prices have increased by about 10.9 percent since the beginning of the year.
If you are planning to buy, don't just look at the national average. Check the sale prices in your district, the amount of shared building debt, and all monthly costs.
Data: Eiendom Norge, July 2026.
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