Large variations in rents
The rental market survey 2015 shows that tenants living in Oslo pay the most for rented dwellings. Although there are great differences in the rental units within Oslo, the districts of Oslo with the lowest rents are at the same level as the centre of Bergen and Trondheim.
|Average monthly rents||Average annual rents per sqm|
|1 room||6 290||2 660|
|2 rooms||7 480||1 830|
|3 rooms||8 860||1 570|
|4 rooms||9 300||1 320|
|5 rooms or more||9 780||1 050|
For dwellings with two and three rooms in Oslo including Bærum, the monthly rents are on average approximately NOK 9 900 and NOK 12 460 per 3 quarter 2015 according to the Rental market survey (RMS). Equivalent rents in Bergen and Trondheim are on average NOK 7 750 and 9 840 and NOK 8 430 and 10 360 respectively. In urban settlements with 2 000-19 999 inhabitants the rents for dwellings with two and three rooms are at NOK 5 990 and 7 090 on average.
Variations in rent levels
The RMS shows that there are large variations in rents, even when dwellings are restricted to geographical location, size and the “non-subsidized” market. The rent of a two room dwelling of 50 sqm in Oslo (price zone 2) may vary in the range NOK 6000 – 17 000. Thus the average estimates must therefore be treated with some caution.
The RMS shows that the most important factors explaining rent levels are:
- Geographical location
- Size of the dwelling
- The length of the tenancy
- Material standard
Other contributing factors are balcony, floor level and garage space.
The length of the tenancy has considerable effect on rent. The average rent level for tenancies from 2015 and 2014 were 11 per cent higher than the average rent level between 2009 and 2013. This indicates that greater changes in rents are more likely to occur when establishing new tenancy contracts.
Several types of lessors
The survey shows that the relations between tenants and lessors are manifold. A simplified division of the rental market is the tenants renting from private landlord or private letting agencies, and the remaining lessors such as relatives, friends, foundations, employers and municipalities. The dominating letting status is, however, private individuals letting out dwellings or parts of their own dwelling. An exception is the capital city of Oslo where private letting agencies cover the largest share.
The figures are not strictly comparable from year to year, the RMS is not intended to present rent changes over time. The RMS measures rent levels based on independent samples each year. Thus the letting objects may vary with respect to variables that determine rent levels.