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Record Rental Rates in Norway. Apartment Rents Surpass Another Barrier
Compared to December last year, rents in the capital have increased by 5.6 percent. Fot. iStock, za: Utleimegleren
Rents for two-room apartments in Oslo have reached historic levels. Rates have exceeded NOK 25,000 per month. A year ago, the company Utleiemegleren signaled that such a threshold could be reached. Currently, in some parts of the market, rents are noticeably higher.
The most expensive two-room apartment rented in 2025 cost NOK 32,000 per month. Apartments with rents at the NOK 25,000 level were not isolated cases. Such rates applied, among others, to apartments in Majorstuen and by Pilestredet.
The average rental price for all types of apartments in Utleiemegleren's portfolio (the largest Norwegian real estate agency) in Oslo increased by 5.6 percent year-on-year.
The average rental price for all types of apartments in Utleiemegleren's portfolio (the largest Norwegian real estate agency) in Oslo increased by 5.6 percent year-on-year.
Finding an Apartment in Oslo Is Getting Harder
According to the company, the increase is the result of several market factors. A low number of new housing developments is indicated.
High demand for apartments in central districts is also significant. Additionally, rising costs for apartment owners are affecting rent levels.
High demand for apartments in central districts is also significant. Additionally, rising costs for apartment owners are affecting rent levels.
Rents in large cities continue to rise.Photo: Fotolia
Price Increases Across Norway
A strong price increase is also visible outside Oslo. In Bergen, rental prices rose by 6.1 percent, and the most expensive two-room apartments cost NOK 23,000 per month.
In Stavanger, an increase of 4.9 percent was recorded, with the highest rates reaching NOK 21,000. In Trondheim, rents rose by 4.7 percent, and the most expensive apartment was rented for NOK 19,200.
In Stavanger, an increase of 4.9 percent was recorded, with the highest rates reaching NOK 21,000. In Trondheim, rents rose by 4.7 percent, and the most expensive apartment was rented for NOK 19,200.
What’s Next for Housing in Norway?
Utleiemegleren does not see any signs of a rapid drop in rents. The low level of residential construction is maintaining pressure on the rental market.
More and more people are staying in the rental sector instead of buying a home. According to the company, the situation is structural and also affects prices in regions around the capital.
More and more people are staying in the rental sector instead of buying a home. According to the company, the situation is structural and also affects prices in regions around the capital.
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