Norway, ME Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

What is the best website to buy houses in Norway? ›

See what the home mortgage will cost you

According to the Financial Supervisory Authority of Norway's guidelines, you need 15% of the home's purchase price in equity. If you do not have large enough down payment it is still possible to consider other solutions.

The average home cost 4,400,000 (51,200 per square meter) in 2022, an increase of 4.9 percent from 2021. Kristiansand had the highest price increase of 5.0 percent, while prices in Follo fell by 1.7 percent. Oslo had the highest prices at NOK 89,100 per square meter.

It is possible to buy real estate in Norway even if you are not a citizen of this country. Foreigners are free to purchase houses and apartments in the country without any restrictions.

The website Finn.no is the most important channel for buying and selling property in Norway. You also find rental properties on Finn.no or Hybel.no.

We Are In a Housing Crisis

The housing market in Norway has witnessed a dramatic downturn so far in 2023, with a nearly 50% decrease in the commencement of new housing compared to the same period in 2022, according to the Home Builders' Association.

However, according to the figures in Numbeo, a single person (living outside of Oslo) should be comfortable on a 500,000 - 600,000 NOK salary per year, while a family (living outside of Oslo) should be comfortable on an 800,000 - 1,000,000 NOK annual salary.

The average cost of living in Norway will depend on the lifestyle you lead and where in the country you choose to settle. Generally, though, you can expect to spend between 20,000 to 40,000 NOK (2,176–4,352 USD) per month to live in this Nordic country.

How Much Money Should I Take to Norway? Plan on taking a dollar amount of at least three to five times your monthly expenses. Upfront fees upon your arrival in the country could include a housing deposit equalling up to six months of rent plus the cost of insurance and setting up your new home.

Although there is no retirement visa, Norway does grant citizenship and permanent residence visas. To obtain permanent residence, a person must meet several criteria, including an annual income of at least NOK 191,422, or about $21,300. Applicants must also learn Norwegian and pass the relevant tests.

Can a US citizen just move to Norway? ›

An American citizen can permanently live and work in Norway through a two-step process: obtaining a temporary residence permit followed by applying for permanent residency. Here's a breakdown of the steps involved: Temporary Residence Permit: Find Employment: The first step involves securing a job offer in Norway.

To rent an apartment in the Norwegian capital cost 16,000 Norwegian kroner per month on average, whereas Bergen ranked second, with an average monthly rent of 14,000 Norwegian kroner. The average price of residential housings in Norway was also highest in Oslo.

The rate is 2.5% of the transfer price of the property (fair market value). Except for stamp duty, no special taxes or charges are levied on a transfer of immovable property.