Norway Office Market Figures Q2 2025

Activity in Oslo’s office market declined in the second quarter of the year. Office take-up reached 150,580 square meters in Q2, down 22 percent from the first quarter and 11.5 percent year-on-year.

The average office rent in Oslo has increased by 9.3 percent over the past year. Growth in rent was observed across all submarkets except Lysaker and Nydalen, with the strongest growth recorded in Outer City West.

Development activity was subdued in the first half of 2025, with only 5,000 sqm completed. A significant increase is expected toward year-end, primarily due to the completion of Construction City and the Government Quarter.