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More expensive to rent – sharp jump in Oslo
🇳🇴 Norway /Economy & Trade

More expensive to rent – sharp jump in Oslo

From Aftenposten · () Norwegian

Translated from Norwegian, summarized and contextualized by DistantNews.

At a glance

News Documents & data Context piece
  • Rental prices in Oslo have significantly increased, with a one-room apartment's monthly rent rising by nearly 750 kroner in the last six months.
  • Oslo leads Norway in rent price increases, followed by Trondheim and Stavanger/Sandnes, with a 3.6% rise in the second quarter.
  • Despite a high number of rental properties available, prices continue to climb, especially for smaller units and rooms in shared housing.

Rental prices in Oslo have surged again this spring, with the monthly rent for a one-room apartment increasing by almost 750 kroner in the past six months, according to Hybel.no.

For a one-room apartment, the monthly rent has increased by almost 750 kroner in the last six months.

— Hybel.noQuantifying the recent increase in rental costs for small apartments in Oslo.

Oslo tops the list for price increases across Norway, with Trondheim and Stavanger/Sandnes following behind. In the second quarter alone, Oslo saw a 3.6% increase in rental prices, while other major cities experienced a 2.3% rise. Over the past four quarters, Oslo's rental prices have climbed 4.7%, compared to 4.6% in Trondheim. Bergen saw prices fall last quarter but rose 5% over the last four quarters.

Hybel.no reports that a one-room apartment in Oslo now costs an average of 15,191 kroner in June, up from 14,444 in January. For a three-room apartment, the average monthly rent is 23,479 kroner, showing only a slight increase since the beginning of the year.

The capital is at the top in Norway when it comes to price increases.

— Eiendom NorgeHighlighting Oslo's leading position in rental price inflation.

Living in shared housing remains the most affordable option. Statistics from Hybel.no indicate that the price for a room in Oslo is now 8,297 kroner, a little over 100 kroner more than at the start of the year. However, prices have risen substantially from 6,600 kroner in 2022. In other cities, such as Trondheim, a room in shared accommodation costs around 7,200 kroner.

In Oslo, rental prices have risen 4.7 percent in the last four quarters, while prices in the other three cities have risen 4.6 percent.

— Eiendom NorgeProviding a year-over-year comparison of rental price increases in major Norwegian cities.

Data from Eiendom Norge, a collaboration including Finn.no and professional rental agencies, shows a high volume of rental properties available, with nearly 4,000 listings across major cities. Oslo accounts for 2,022 of these listings. While the number of available rentals is high compared to recent years, Eiendom Norge's CEO Henning Lauridsen cautioned that it is too early to determine if this indicates a lasting trend or simply the approach of the summer rental season.

The number of homes for rent on Finn is at a very high level compared to what we have seen in recent years.

— Henning LauridsenCommenting on the significant volume of rental properties currently listed.
DistantNews Editorial

Originally published by Aftenposten in Norwegian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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