Housing Market in Norway: Reflections After 2025 and What Lies Ahead

As 2025 comes to an end, the Norwegian housing market has remained relatively stable and close to normal conditions.

In Eastern Norway, housing price growth was lower than many experts predicted, despite limited housing supply and few newly completed homes. But in the larger cities along the west coast and in Tromsø in the north, price growth has been high

At the same time, interest rates did not decline as much as initially expected.

Even under these conditions, the second-hand housing market remained active, with a consistently high volume of transactions throughout the year.

Buyer Activity and Market Dynamics in 2025

Throughout 2025, demand for existing homes stayed strong. Many buyers adjusted expectations rather than waiting for significant interest rate cuts or rapid price growth.

I had the opportunity to assist a wide range of clients, including many international and English-speaking residents living in Norway. Some property purchases moved quickly, while others required extended search periods — particularly when clients were looking for unique or less common properties. In these cases, patience and long-term planning were essential parts of the buying process.

Several of these ongoing searches naturally continue into the coming year.

Early Outlook for the Norwegian Housing Market in 2026

Within the first months of 2026, the pace of the housing market will become clearer. While strong predictions are difficult to make, demand may increase if interest rates are reduced further during the spring.

Key factors influencing the 2026 market include:

interest rate developments
housing supply, especially in Eastern Norway
buyer confidence and affordability

Professional Buyer Representation in Norway

Navigating the Norwegian housing market requires local insight, preparation, and buyer-focused guidance. This is particularly important for international buyers who may be unfamiliar with bidding processes, regulations, and financing structures in Norway.

If you are planning to purchase a home and want professional, independent support focused on your interests as a buyer, I am available to assist.

Summary:

The Norwegian housing market in 2025 remained stable

Price growth in Eastern Norway was lower than expected, but high in the western part and Tromsø in the north.
Interest rates stayed higher than many predicted
Second-hand home sales remained strong
Market activity in 2026 may increase if interest rates decline