Norway

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Check Eligibility
- Non-Residents: Foreigners are allowed to purchase property in Norway, but non-EU/EEA nationals may face restrictions when buying agricultural land or property in certain rural areas. To purchase property, you must have a valid residence permit or be a Norwegian citizen.
- Financing: Non-residents can secure financing from Norwegian banks, though they may be required to make a larger down payment (often 30% or more). Proof of income and financial stability is required for a mortgage.
Determine the Budget
- Budgeting: Determine the full cost of purchasing property, including the purchase price, notary fees, registration taxes, and other related expenses such as property insurance and utilities.
- Mortgage: Norwegian banks typically lend up to 85% of the property's value, meaning buyers need to cover the remaining 15% as a down payment.
Find a Property
- Online Search: Use property search websites such as Finn.no and Eiendomsmegler1.no to search for available properties across Norway. You can filter properties by location, price, and other features.
- Real Estate Agents: It is recommended to work with a local real estate agent (eiendomsmegler) to assist with the property search and negotiations.
View the Property
- Inspections: It’s advisable to have a property inspection done to assess its condition. You may want to focus on checking the structural integrity, electrical systems, and plumbing.
- Visiting the Property: If you're unable to visit in person, consider hiring a representative or arranging a virtual tour to view the property.
Make an Offer
- Bidding: Once you’ve chosen a property, you will make an offer. In Norway, the offer is often made through a bidding process, and multiple parties may submit bids. The final agreement is made between the buyer and the seller.
- Contract: After an offer is accepted, a preliminary contract is signed, and a deposit (typically 10% of the purchase price) is paid.
Complete Legal Formalities
- Notary Role: Norway does not require a notary, but legal professionals (such as lawyers or real estate agents) will oversee the transaction. The buyer and seller will sign the final sale agreement.
- Taxes and Fees: The buyer must pay a registration fee (typically around 2.5% of the purchase price) and any applicable notary fees or legal costs.
Register the Property
- Land Registry: The property must be registered with the Norwegian Land Registry (Kartverket) to officially transfer ownership.
- Insurance: It is important to have property insurance (boligforsikring) to protect the home from potential risks.
Move In
- Once the legal formalities and registration are complete, you can move into your new home in Norway.
ADDITIONAL CONSIDERATIONS
- Legal Assistance: Although not mandatory, it is recommended to seek legal assistance or consult a real estate agent to guide you through the legal aspects of the purchase.
- Taxes and Fees: In addition to the registration fee, be aware of other costs such as notary fees and potential property taxes that may arise after purchasing the property.
ADDITIONAL NOTICES
- Notary Role: Norway does not require a notary, but legal professionals will facilitate the transaction process and ensure all legal steps are completed.
- Registration Fee: A registration fee of around 2.5% of the property value is required when purchasing property in Norway.
- Mortgage Financing: Norwegian banks may offer mortgages to foreign buyers, but buyers are usually required to provide a down payment of at least 15%.

In Norway, real estate taxes are regulated by both the central government and local municipalities. The key types of taxes related to real estate in Norway include:

Property Ownership Tax

Property Tax (Eiendomsskatt): Property tax in Norway is imposed at the municipal level, and it applies to both residential and commercial properties.

  • The tax is based on the property’s assessed value, which is determined by the municipality and generally lower than the market value.
  • The property tax rate varies between municipalities, but it generally ranges from 0.2% to 0.7% of the assessed value of the property.
  • The property tax is typically paid annually, and the responsibility lies with the property owner.
Real Estate Transfer Tax

Norway does not have a specific transfer tax on real estate transactions. However, there are other costs involved in the transfer of property, such as:

  • Registration fee: A registration fee of NOK 525 is charged when a property is registered with the Land Registry.
  • Notary fees: Fees may apply if a notary is required to authenticate documents related to the transaction.
Capital Gains Tax on Real Estate

Capital gains tax applies when a property is sold at a profit, though exemptions apply for primary residences under certain conditions.

  • The general capital gains tax rate is 22% on the profit made from the sale of the property (the difference between the sale price and the purchase price).
  • If the property has been owned for more than two years and was used as the primary residence, the capital gains from the sale may be exempt from tax.
  • If the property has been owned for less than two years, capital gains tax will typically apply, unless specific exemptions apply (e.g., the property was inherited).
Inheritance and Gift Tax

Norway abolished the inheritance and gift tax in 2014. As a result, there is no tax on inherited real estate or real estate received as a gift.

  • However, if the property is sold after inheritance or gifting, capital gains tax may apply to the sale if the property has appreciated in value.
Municipal Taxes

In addition to property tax, some municipalities may impose additional local levies or charges for certain types of real estate, such as for the use of public infrastructure or services.

Income Tax on Rental Income

If rental income is generated from real estate, it is subject to income tax in Norway.

  • Rental income is taxed as part of the overall personal income tax system.
  • The general tax rate for rental income is 22%, which is the same rate as for other personal income, though additional taxes may apply based on the total rental income.
  • Property owners can generally deduct related expenses, such as maintenance costs and property management fees, from their rental income for tax purposes.
Note: Tax rates and regulations can vary depending on specific circumstances and municipalities. It is recommended to consult with local authorities or a tax professional for the most up-to-date and accurate information.
Official
Kingdom of Norway
CIOC
NOR
Subregion
Northern Europe
Borders
FIN
SWE
RUS
Capital
Oslo
Area
323 802 km²
Population
5 379 000
Timezones
UTC+01:00
Phone
+47   
Currencies
Norwegian krone (NOK kr)