Kraftig prispress i Tromsø: – Hører til sjeldenhetene

Eiendom Norge recently reported that Tromsø topped the list of Norwegian cities with the most significant price drops, with a staggering 9.7% decrease since New Year's. This is dramatically higher than the national average of 2.8%. Kristian Ytreberg-Eide, a senior real estate agent at DNB Eiendom in Tromsø, noted that the market had been out of balance since summer, with one property recently selling for over 10 million kroner, situated 25 minutes away by car from the city center.

It was rare to see properties selling for 520,000 kroner above their asking price in remote areas. Although the market is balancing out now, Ytreberg-Eide stated that most properties are sold at or above their asking price shortly after being listed. Similar to the rest of the country, new construction in Tromsø has been limited, while there's a significant influx of people moving to the city, increasing demand without a corresponding rise in supply.

Furthermore, construction stops on Kvaløya, one of Norway's largest islands connected to Tromsø via a bridge, have been ongoing for years due to the limited capacity of the bridge. Ytreberg-Eide highlighted that nearly all new projects on the island are in Tromsø itself or on the mainland, where building costs are exorbitant. Another factor contributing to the rising prices is the high number of secondary properties bought for either long-term or short-term rentals.

Ytreberg-Eide predicts a price increase of over 10% for Tromsø this year, likely occurring in November and December as winter approaches and darkness sets in. Regional disparities in Norway's housing market are becoming more pronounced, with cities like Tromsø and Bergen experiencing a surge in prices (+9.7% and +7.3%, respectively), while Oslo, the largest city, has seen a slight decline (-0.8% since New Year).

Sara Midtgaard, a senior macro and forex strategist at Nordea Markets, confirmed that regional differences have become increasingly evident, particularly in the number of unsold properties versus the average. In Tromsø and Stavanger, there are very few unsold properties, whereas Oslo has many. Midtgaard pointed to the limited construction activity in Tromsø due to its geographical location with mountains on both sides and restricted building opportunities.

Moreover, the tourism industry has led to a rise in rental prices through platforms like Airbnb. Despite a slowdown in price growth across most Norwegian cities compared to 2025, Midtgaard noted that Tromsø continues to experience a higher rate of increase. The Norwegian Index expects a seasonal adjustment of 0.5% in housing prices nationwide, while Tromsø is projected to see a more significant decline of 0.2% in August, with a possible slowdown in the upcoming autumn, given that the central bank has increased the interest rate.