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Highest rents in Oslo and Bærum
statistikk
2013-04-18T10:00:00.000Z
Prices and price indices;Construction, housing and property
en
lmu, Rental market survey, letting, rent, rents per square metre, dwelling types, lessor categories (for example family, local authority, employer), dwelling sizeDwelling and housing conditions , House prices and house price indices , Construction, housing and property, Prices and price indices
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Rental market survey, 2012

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Some errors have been identified in the average monthly rents by type of landlord and number of rooms for the period 2012. See StatBank for updated figures for this period.

Highest rents in Oslo and Bærum

The Rental market survey 2012, measured in the fourth quarter, shows that tenants living in Oslo including Bærum pay the most for rented dwellings per square meter. The survey also shows that several factors beyond geographical location contribute to the rent level, including letting status and period of tenancy.

Average monthly rents and annual rents per sqm, by price zone. NOKPublished 18 April 2013
2012
Average monthly rentsAverage annual rents per sqm
1Excluding Oslo, Bergen, Trondheim, Stavanger, and Akershus.
2Excluding Akershus
Oslo and Bærum municipality9 4702 150
Akershus county except Bærum municipality7 3701 380
Bergen municipality7 9901 740
Trondheim municipality7 8801 920
Stavanger municipality10 2901 650
Urban settlements with more than 20,000 inhabitants16 9801 320
Urban settlements with between 2,000-19,999 inhabitants25 9201 050
Urban settlements with between 200 and 1,999 inhabitants and sparsely populated areas25 200780

Source: Statistics Norway

Geographical location is a key factor in the rent differences. The average monthly rent for dwellings with two rooms in Oslo including Bærum is NOK 8 500 in the fourth quarter of 2012. Equivalent rents in Bergen, Trondheim and Stavanger are NOK 6 710, 6 830 and 6 880 respectively. The lowest rent estimates are found in urban settlements with between 200 and 1 999 inhabitants and sparsely populated areas.

Private individuals are the most dominant type of landlord

There are clear elements of “subsidised” tenancy agreements in the rental market. As private individuals acting as landlords are such a prominent factor, they may let out to family and friends at “subsidised” rents. The RMS shows that this share of the market constitutes more than 10 per cent in the bigger municipalities.

The “non-subsidised” rental market consists of private individuals acting as professional landlords and private professional landlords and letting agencies. Common for these letting categories are that the tenancy agreements are subject to regular market conditions.

Period of tenancy important factor

The RMS shows that most tenants have their tenancy regulated in a written contract. The contract can be based on a fixed-term agreement for a fixed period or a periodic agreement. The RMS shows that fixed-term agreements are drawn up more often in Oslo including Bærum compared to the rest of the country, while periodic agreements are more common for Norway as a whole.

The RMS 2012 shows that period of tenancy is an important factor for the rent level. Tenancies from 2012 and 2011 are on average more than 10 per cent higher than tenancies from 2006-2010. For tenancies prior to 2006 the rent level is on average 28 per cent lower than the newest tenancies.

Changes in the RMS from the fourth quarter of 2012 Open and readClose

The RMS from the fourth quarter of 2012 presents more detailed geographical divisions, which means changes in StatBank tables.

The RMS from the fourth quarter of 2012 is based on two methods of calculation: in addition to the descriptive statistics, detailed predicted rent levels are estimated for different geographical areas with the use of hedonic regression techniques. To see predicted monthly rents by price zones see StatBank.

The Norwegian rental market is characterised by large variations in rents due to geography, physical unit attributes, relations between tenants and landlords and period of tenancy. The average estimates must therefore be treated with some caution. It is also important to emphasise that average rent levels from previous years are not directly comparable since the survey is based on unique samples each year that may differ according to variables that are important for the rent level. The rent level figures from the fourth quarter of 2012 are rounded off to the nearest ten.

Figures from the RMS are not comparable from year to yearOpen and readClose

The Rental market survey (RMS) measures the rent levels and the composition of the Norwegian rental market for a given time period. Rent levels are broken down into certain segments of the market. 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.