What is the average Class A rent in Oslo?

Around 5400 NOK/sqft/yr ($510 USD) across the broader Class A index. Trophy submarkets like Bjørvika command 20–40% above that.

How many months of rent-free are normal in Oslo?

8 months on a 7-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Oslo?

The Oslo Class A market is currently rising. Vacancy is 6.4%, which sets the negotiating context.

Headline Class A rent in Oslo is around 5400 NOK/sqft/yr ($510 USD), with 8 months of typical rent-free on a 7-year term.

Headline Class A rent: 5400 NOK/sqft/yr ($510 USD).
Trophy submarket rents (Bjørvika) push to roughly NOK 540/sqm/yr · ≈ $50.2 PSF/yr USD.
Typical concessions on a 7-year deal: 8 months free rent.
Vacancy stands at 6.4% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Oslo Class A office rents and incentives

Headline Class A rent in Oslo is around 5400 NOK/sqft/yr ($510 USD), with 8 months of typical rent-free on a 7-year term.

TL;DR

Headline Class A rent: 5400 NOK/sqft/yr ($510 USD).
Trophy submarket rents (Bjørvika) push to roughly NOK 540/sqm/yr · ≈ $50.2 PSF/yr USD.
Typical concessions on a 7-year deal: 8 months free rent.
Vacancy stands at 6.4% — market trend is rising.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Oslo are quoted in NOK per sqft per year. Across the broad Class A index the figure is 5400, but the trophy tier in Bjørvika reaches roughly NOK 540/sqm/yr · ≈ $50.2 PSF/yr USD. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Oslo concessions on a 7-year Class A lease run to 8 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — Norwegian corporate tax of 22% (lowest in the Nordics). 25% VAT. Special petroleum tax regime for upstream energy (78% effective combined rate).

Where rents land by submarket

Bjørvika sits at the top end (~NOK 540/sqm/yr · ≈ $50.2 PSF/yr USD). Fornebu clears around NOK 420/sqm/yr · ≈ $39 PSF/yr USD as the prime tier. The full submarket map is on the Oslo city page.

Key facts

city	Oslo
country	Norway
region	EMEA
classARentLocal	5400 NOK/sqft/yr
classARentUsd	$510/sqft/yr
vacancy	6.4%
typicalLeaseYears	7
typicalRentFreeMonths	8
submarkets	5
primeYieldPct	4.6%
trophyRent	NOK 540/sqm/yr · ≈ $50.2 PSF/yr USD
primeRent	NOK 420/sqm/yr · ≈ $39 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Oslo?: Around 5400 NOK/sqft/yr ($510 USD) across the broader Class A index. Trophy submarkets like Bjørvika command 20–40% above that.
How many months of rent-free are normal in Oslo?: 8 months on a 7-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Oslo?: The Oslo Class A market is currently rising. Vacancy is 6.4%, which sets the negotiating context.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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