Norwegian Housing market august 2025, what to expect this fall.

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Housing prices fell by 1% in July, but seasonally adjusted they increased by 0.2%. Overall, prices have risen 5.6% so far this year.

Oslo is lagging somewhat behind the rest of the country, with only 2.9% growth so far this year. The early-year forecasts of double-digit growth now look set to fall through quite thoroughly!

From a buyer’s perspective, the current market in Oslo (and in several other places) gives no reason to fear a major price surge in the near future, even if interest rates were to be cut further. It takes some time before such changes fully take effect. There are fewer homes for sale than before the summer holidays. Lower supply can influence bidding rounds and prices, but we don’t yet know how this will play out in the coming months.

Now, in mid-August, quite a few homes have already been put on the market. And there was no interest rate change this time, even though one or perhaps two rate cuts are expected during the autumn. So there are no signs that the market will take off, even though it’s the season for buying smaller homes for students, where parents often help out. In that segment, we might see some intense bidding wars.

Stay tuned for my updates ❤️

So my advice is:
Don’t let the market pressure you. Take your time planning, think about your housing needs before your investment goals – and seek guidance if you feel uncertain.

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Thinking of Buying a Home in Norway as a Foreigner? Read This Before You Place an Offer

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Buying a home in Norway as a non-resident is entirely possible — but bidding process is very different from what you might be used to in countries like the US, UK, or Australia.

The biggest difference? You must have full financing ready before you bid.

Financing Rules in Norway

All funds must be secured in advance. You must document that you have the entire purchase amount either:

  • As equity in a Norwegian bank account, or
  • Through a mortgage pre-approval from a Norwegian bank.

Both of these things are not possible unless you have registered with the Norwegian Tax Administration, obtained a D-number, and receive your salary in Norway.

Read more here:

Foreign bank confirmation:
In some cases, sellers and agents may accept a bank statement or letter from your bank in your home country — but this needs to be agreed on before bidding.

Proof to the agent: The bank (Norwegian or foreign) must confirm your financing directly to the listing agent before your offer can be accepted.  Or you use a bank statement from abroad if the seller and real estate agent accept this.

No “Cash Buyer” Perks Like in the US

In the US, “cash buyers” often get a faster closing, a discount, or the ability to bypass certain contingencies. In Norway, there’s no such advantage — because everyone must show proof of financing upfront. And offers cannot be made “subject to financing later”. It will not be accepted. If your financing is not ready, your bid usually is invalid.

Why This Matters for International Buyers

Many international buyers assume they can make an offer first, then arrange financing. In Norway, that’s not possible — the system is designed to ensure only fully funded offers are considered. While this can feel restrictive, it also makes the process faster and more predictable once your bid is accepted.

How to Prepare as a Foreigner

  • Open a Norwegian bank account early (this can take time). (if possible for you)
  • Secure mortgage pre-approval from a Norwegian bank if you need financing if (possible for you)
  • If using funds from abroad, discuss the documentation requirements with the agent well in advance.
  • Understand the bidding process — offers are legally binding the moment they’re accepted.

With experience guiding many international clients through this process, I can help you navigate the rules and avoid costly delays.

I always take time with my clients in advance to clarify this, so we can avoid delays or being denied participation in the bidding process.

DM me if you’re ready to start your home-buying journey in Norway — and let’s make sure your financing is rock solid before you bid!

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Buying property in Norway: Residency, D-Numbers, and bank accounts

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Buying property in Norway as a foreigner is not as complicated as you might think. While the rules for living and settling in Norway can be complex, the process of acquiring real estate is relatively straightforward—provided that your finances are in order.

In this post, I’ll walk you through what’s required to buy property, how to handle residency questions, and what to do if you need a Norwegian bank account.

Can Foreigners Buy Property in Norway?

Yes, foreigners can buy property in Norway without significant restrictions. The main requirement is proof of financing. When you make a purchase offer, you must demonstrate that your funds are available and legitimate.

Due to anti-money laundering laws, sellers (or their agents) may ask about the origin of your funds. If your money comes from salary, savings, or other legitimate sources, this is not an issue.

Tip: Always have documentation ready, such as bank statements or proof of transfer, to avoid delays during the purchase process.

Residency Rules: What You Need to Know

While buying property is easy, obtaining residence or the right to live in Norway is a separate matter. Norwegian residency rules are complex and depend on your nationality, employment situation, and other factors.

This is not my area of expertise, which is why I work with an experienced immigration lawyer who can guide you through the process and assess your chances of getting a residence permit. If you need help, I can provide his contact details.

What Is a D-Number, and Why Do You Need One?

A D-number is a temporary identification number issued by the Norwegian Tax Administration (Skatteetaten). It’s often needed when you have financial or official ties to Norway but are not a resident.

To get a D-number, you generally need:

  • A connection to Norway (e.g., temporary residence, paying taxes, or receiving salary here).

If you buy property in Norway, you will automatically be assigned a special D-number to register your ownership with the Norwegian Land Registry (Kartverket).
Important: This property-related D-number is not the same as a general identification number and cannot be used for all services.

Opening a Bank Account in Norway

Most foreign buyers want a Norwegian bank account to pay property-related expenses. Unfortunately, it’s nearly impossible to open a bank account without a D-number(the “proper” one from the tax office).

So, how can you handle costs such as:

  • Housing association (felleskostnader) fees?

  • Municipal taxes and utilities?

  • Other running costs?

The solution is to pay from your foreign bank account using IBAN details (International Bank Account Number) provided on the invoices you receive.

Paying Bills Without a Norwegian Bank Account

Even if you can’t open a Norwegian bank account, you can still pay bills for your property:

  1. Use your foreign bank account.

  2. Ensure you include the IBAN number (listed on the invoice).

  3. Use SWIFT/BIC codes if required for international transfers.

This system works well for most property owners living abroad.

Final Thoughts

Buying property in Norway is straightforward for foreigners, but settling here is a different story. Make sure you have the right legal advice on residency and understand how to handle banking challenges.

Even without a Norwegian bank account, paying property expenses is manageable with international transfers and IBAN numbers.

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The Housing Market in Norway Right Now – And Some Summer Tips for Those Planning to Buy

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After a sharp increase in prices earlier this year, the housing market has calmed down somewhat as we head into summer. Prices have remained fairly stable over the past few months, but activity is still high — with many homes being bought and sold. Nationwide, housing prices have risen by 6.6% so far this year.

In June, we saw the first interest rate cut of the year — a modest reduction of 0.25% — but further cuts are expected throughout the autumn as inflation becomes more controlled. So far, this hasn’t had much impact on prices, but it’s quite typical for the housing market to quiet down a bit during the summer months. If interest rates continue to fall, we might see prices rising again this autumn.

However, there are large variations from region to region, so if you are considering buying a home, it’s wise to get an updated overview of the market in the area you’re interested in. Feel free to reach out to me — I’m more than happy to help you explore the opportunities where you want to live.

My Summer Plans – And My Availability for You

This summer, I’m enjoying time here in beautiful Norway — both at the cabin and with family and friends along the southern coast. This year, we also have family visiting from Canada, and we’re looking forward to showing them all the wonderful things our country has to offer.

Even though I’ll be on holiday for most of July, I always keep an eye on the housing market. If something interesting comes up, I’m never far from my phone. In fact, many people choose to list their homes early in the summer holidays, so there can definitely be good opportunities for buyers right now. Don’t hesitate to reach out if something urgent comes up.

A Small Piece of Summer Advice for Those Dreaming of Buying This Autumn
If you’re considering buying a home this autumn, I recommend using the summer wisely. When you have a bit more time and peace, it can be helpful to sit down and make a simple list of your “MUST HAVES” and “NICE TO HAVES” for your next home. This will give you clarity and confidence when the right home appears.

Wishing you a wonderful summer! Enjoy these days — and feel free to reach out if you’d like to have a nice chat about your home-buying plans in the summer sun.

Best wishes
Boligdama – Trude Larsen
e.mail: trude@boligdama.no

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