Norway’s average gross residential rental yield rose to 4.95% in Q3 2026, up from 4.58% in Q1, with Trondheim and Bergen offering higher average returns than Oslo, according to data from Global Property Guide and Finn.
Among the three major cities compared, Trondheim recorded the highest average gross rental yield at 5.30%, followed by Bergen at 5.06%. Oslo posted an average yield of 4.50%.
The figures indicate that smaller Norwegian markets can offer stronger rental returns than the capital, although yields vary significantly depending on apartment size.
In Oslo, a one-bedroom apartment costs an average of €396,300 and generates monthly rent of around €1,685, translating into a gross annual yield of 5.10%. The yield falls to 4.97% for two-bedroom homes, 3.95% for three-bedroom properties and 3.97% for apartments with four or more bedrooms.
Bergen recorded the strongest yield among one-bedroom apartments, at 6.21%. The average purchase price for a one-bedroom home was €290,600, while monthly rent stood at €1,505.
Two-bedroom apartments generated a yield of 5.59%, while three-bedroom and four-plus-bedroom properties recorded yields of 4.17% and 4.27%, respectively.
Trondheim produced the highest yield among the individual apartment categories analysed. Its four-plus-bedroom properties generated a 5.64% gross rental yield, despite an average purchase price of €542,100 and monthly rent of €2,550.
One-bedroom apartments in Trondheim offered a 5.59% yield, while two-bedroom and three-bedroom units generated 5.18% and 4.79%, respectively. The average purchase prices for these properties stood at €254,200, €354,400 and €454,600.
The latest figures show that rental yields can differ considerably even within the same city. In Oslo, for example, the yield on a one-bedroom apartment is more than one percentage point higher than that of a three-bedroom property.
Similarly, Bergen's 6.21% yield for one-bedroom apartments is significantly above the 4.27% recorded for four-plus-bedroom homes.
The national improvement also comes as investors assess rental income against property acquisition costs. Norway's average gross yield of 4.95% in Q3 2026 represents a 37-basis-point increase from the 4.58% recorded in Q1.
However, the reported figures are gross rental yields, calculated before taxes, maintenance and repair costs, ground rents, estate agents' fees and other expenses. According to the data, net yields are typically 1.5 to 2 percentage points lower than gross yields.
The comparison is based on residential property prices and rents compiled from Global Property Guide and Finn, covering Oslo, Bergen and Trondheim.
