Real Estate in Oslo, Norway
Last updated on Oct 01, 2024
Summary: The most desirable neighborhoods in Oslo, Norway are Frogner, Majorstuen, St. Hanshaugen, Grunerlokka, and Torshov. The average cost to buy a nice 2 bedroom home in Oslo is around $1.2 million USD, and a nice 3 bedroom home is around $1.5 million USD. These properties typically include modern amenities such as stainless steel appliances, hardwood floors, and updated bathrooms. Foreigners are allowed to purchase property in Oslo, but there are certain restrictions. For example, foreign buyers must obtain a residence permit and must have a valid passport. When searching for a home to buy in Oslo, an expat should consider their budget, desired location, and the type of property they are looking for. It is also important to research the local real estate market and to consult with a real estate agent who is familiar with the area. Additionally, expats should consider the cost of living in Oslo, as well as the availability of public transportation and other amenities.
How do I find a place to live in Oslo?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Oslo is to use online rental websites such as Finn.no or Hybel.no. These websites allow you to search for rental properties in Oslo and the surrounding areas. You can also use the search filters to narrow down your search to find the perfect place for you. Additionally, you can contact local real estate agents who specialize in rental properties in Oslo. They can provide you with more information about the rental market in the city and help you find the perfect place to live," explained one person living in Oslo, Norway.
"We live in the center of Oslo because it is close to the train and bus stations for us to get to work- it also has a great balcony. We also wanted two large bedrooms, and a w/d in the flat which can be tricky to find in older flats," said one expat in Oslo.
Get Quote
Relocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.
Relocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.
Get Quote
What is a typical expat home or apartment like in Oslo?
"Most of our expat friends have slightly larger places, but none have as nice a patio or w/d. I think overall they are comparable," said one person in Oslo.
"Expat homes and apartments in Oslo are typically modern and spacious, with large windows that let in plenty of natural light. Many apartments come with balconies or terraces, offering stunning views of the city and surrounding countryside. Expat homes and apartments are usually well-equipped with modern appliances and amenities, such as dishwashers, washing machines, and dryers. Many apartments also come with access to a shared gym, sauna, and swimming pool. Oslo is a safe city, so expats can feel secure in their homes and apartments," remarked one foreigner who made the move to Oslo.
What is the average cost of housing in Oslo?
If you are thinking about moving to Oslo, cost of living in probably a key consideration. Expats commented about the cost of housing:
"To be honest I don't know what we pay, but I would estimate it to be around 3,500 dollars/month, which is certainly higher than I would expect to pay in the center of Houston," said one expat in Oslo.
"The cost of housing in Oslo is generally quite high. The average price for a one-bedroom apartment in the city center is around 8,000 to 10,000 Norwegian kroner (NOK) per month, while a three-bedroom apartment can cost up to 15,000 NOK per month. Prices outside of the city center tend to be lower, but still remain relatively expensive," remarked one member in Oslo.
Should I buy or rent a home in Oslo?
If you have not spent a lot of time in Oslo, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Oslo can be a great investment, as the city is known for its strong economy and high quality of life. However, it is important to consider the cost of living in Oslo, which is one of the highest in Europe. Renting a home in Oslo can be a more affordable option, and it can also provide more flexibility if you are not sure how long you will be living in the city. Ultimately, the decision to buy or rent a home in Oslo should be based on your individual needs and financial situation," explained one expat living in Oslo, Norway.
What do I need to know when buying property in Oslo?
When we asked expats what advice they would give a foreigner before buying a property in Oslo, they said:
"1. It is important to research the area you are interested in buying property in, to ensure it is the right fit for you. 2. It is also important to understand the Norwegian property market, including the current market trends and prices. 3. You should also be aware of the taxes and fees associated with buying property in Norway, such as the transfer tax and registration fees. 4. It is also important to understand the legal process of buying property in Norway, including the necessary paperwork and contracts. 5. It is also important to be aware of the different types of mortgages available in Norway, and to understand the terms and conditions of each. 6. Lastly, it is important to seek professional advice from a lawyer or real estate agent to ensure you are making the right decision when buying property in Oslo," said one foreigner living in Oslo, Norway.
Are foreigners allowed to own property in Oslo?
When we asked expats what advice they would give a foreigner before buying a property in Oslo, they said...
"Yes, foreigners are allowed to own property in Oslo. There are no specific restrictions on foreign property ownership in the country. However, the process of purchasing property may be more complex for non-residents, as they may need to secure financing from a Norwegian bank and navigate the local real estate market. Additionally, foreigners may be subject to certain tax regulations when purchasing property in Norway. It is advisable for foreigners to consult with a local real estate agent and legal expert to ensure a smooth property acquisition process," said one expat in Oslo.
What appliances are typically included in a rental?
We asked foreigners in Oslo what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Oslo typically include a refrigerator, stove, oven, dishwasher, washing machine, and dryer. Additionally, some properties may include a microwave, toaster, and other small kitchen appliances," said one person in Oslo.
Additional Information about Searching for a Home in Oslo:
We asked foreigners in Oslo what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats searching for homes in Oslo often begin by browsing online real estate portals and websites, such as Finn.no and Hybel.no, to get an idea of the housing market and available properties. They may also join local Facebook groups and online forums dedicated to expats in Oslo, where they can ask for advice and recommendations from fellow expats who have gone through the process. In addition to online resources, expats may choose to work with a real estate agent who is familiar with the local market and can help them navigate the process of finding and securing a rental or purchase. Networking with colleagues, friends, and acquaintances in Oslo can also be helpful, as they may have insider knowledge about available properties or upcoming vacancies. Visiting neighborhoods in person is another important step in the search process, as it allows expats to get a feel for the area and determine which neighborhoods best suit their needs and preferences. Open house viewings and scheduled appointments with landlords or real estate agents can provide valuable opportunities to see properties firsthand and ask questions about the rental or purchase process. Finally, expats should familiarize themselves with Norwegian rental laws and regulations, as well as any specific requirements for foreign renters or buyers, to ensure a smooth and successful home search in Oslo," said one foreigner living in Oslo, Norway.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
Other Questions:
- What do I need to know before moving to Oslo?
- What is a typical expat home or apartment like in Oslo?
- What is the average cost of housing in Oslo?
- How do I meet people in Oslo?
- What do I need to know before retiring in Oslo?
- What should I pack when moving to Oslo?
- Where should I setup a bank account in Oslo?
- Will I be able to find a job in Oslo?
- What is life like as an expat in your area?
- What do people like (and dislike) about Oslo?
- What type of social life can someone expect in Oslo?
- What is the social scene like in Oslo?
- What advice to expats in Oslo have about housing?
- What are medical services in Oslo like?
- Are healthcare and health insurance expensive in Oslo?
- Is the cost of living in Oslo high?
- What are the visa & residency requirements in Oslo?
- Why do people move to Oslo?