Prices in Oslo have risen nearly 13-fold since 1992 according to SSB. In 2026, the market is marking time: figures, neighbourhoods and buying rules.
Since 1992, the first year of the official index from Statistics Norway (SSB), prices of existing homes in Oslo have risen nearly 13-fold in current kroner. Over the same period, the increase is about 8.5-fold for Norway as a whole. Oslo is therefore the city that has risen the most, and it is also the one that reacts most strongly to reversals.
In 2026, the Oslo market is marking time. According to SSB, prices in Oslo and Bærum rose by only 0.8% between the second quarter of 2025 and the second quarter of 2026, compared with 4.4% nationwide. Seasonally adjusted, they fell by 1.3% in the second quarter. For a buyer, this is a calmer window than over the last ten years: more properties for sale, slower sales, but higher interest rates.
Here are the main phases of price changes over three decades, the situation in autumn 2026, benchmarks by neighbourhood and the rules to know before buying.
SSB's existing-home price index (table 07221) has tracked Oslo and Bærum, its neighbouring municipality, since the first quarter of 1992. The figures below compare index levels; they do not account for inflation.
Between the second quarter of 1992 and the second quarter of 2008, Oslo's index rose 4.9-fold. This is the period that established Oslo among the most expensive markets in the country.
With the financial crisis, Oslo's index lost 10.7% between the second and fourth quarters of 2008. The drop was quickly erased: from the end of 2008 to spring 2012, prices regained nearly 44%.
From the second quarter of 2012 to the first quarter of 2017, Oslo's index rose a further 51%. The correction that followed was clear but short: down 7.5% between the first and fourth quarters of 2017.
The two pandemic years pushed prices up again, with an increase of 19.5% between the second quarter of 2020 and the second quarter of 2022. Since then, the Oslo market has risen little: up 7% in four years, while other large cities such as Bergen or Stavanger were still posting double-digit increases in the last year alone.
One detail matters if you are looking for an apartment: in Oslo, the index for apartments in blocks has risen 14.6-fold since 1992, slightly more than that for all homes. Small units in the centre drove the increase.
Eiendom Norge, the federation of estate agents, publishes its statistics every month with FINN and Eiendomsverdi. At the end of September 2026, the average price of a home in Norway stood at 5,020,869 kroner, up 4.2% since January. Oslo shows the weakest change in the country over the period, with a fall of 0.7%. The federation stresses that the supply of existing homes in Oslo remains at a historically high level, even though it is starting to shrink.
The pace of transactions is also slowing: it took an average of 48 days to sell a home in Norway in September 2026, and 10,491 homes changed hands in the month, 5.8% fewer than a year earlier.
According to the estate agents' federation NEF, quoted by the business daily E24 in October 2026, the number of first-time buyers in Oslo fell by 10% in the first half of 2026, while small apartments have never been so numerous on the market. The average price of a first home in Oslo reaches 3.8 million kroner. Less competition for studios and two-room flats means more room to negotiate.
Norges Bank raised its policy rate to 4.5% in September 2026. Its next decision is expected on 5 November 2026. It is this rise in rates that weighs on households' borrowing capacity, and therefore on Oslo prices.
The market reads from west to east. The western neighbourhoods are the most expensive, the eastern ones more accessible.
Before comparing two apartments, check whether they are sold freehold or as cooperative shares (borettslag). In the second case, the total price includes the sum paid to the seller and your share of the building's common debt. SSB, incidentally, adds the two together to calculate its indices.
Norway's Concession Act (konsesjonsloven) exempts from authorisation the purchase of a built property of up to 100 decare, including up to 35 decare of cultivated land. These exceptions depend on the nature of the property, not on the buyer's nationality: an apartment or a house in town falls within this framework. Still, have a professional confirm the status of the property before you sign.
Financing is the real filter. Norwegian banks apply the mortgage regulation (utlånsforskriften):
If you are financing your purchase from France, prepare a complete file on your income and debts, and ask several banks about their terms for a non-resident borrower.
Renting for a few months helps you choose your neighbourhood, but the budget is high: 13,000 to 18,000 kroner per month for a studio, 17,000 to 23,000 kroner for a one-bedroom apartment, 24,000 to 32,000 kroner for two bedrooms. The deposit is generally three months' rent, with a legal ceiling of six months, and it is paid into a blocked account.
If you are searching from France, a Remoters home finder based in Oslo can spot properties, view them for you, gather the documents and support you through to signing. The first conversation and the quote are free.
Short answers to the questions our readers ask, written to stand on their own.
Sources cited in this article
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