Rental prices for retail premises in Oslo fall sharply

Karl Johans gate street - OsloPhoto: Håkon Mosvold Larsen / NTB
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Closures of shops and customer flight characterize trade in central Oslo. Rental prices in increasingly empty streets have fallen sharply since last year.

This is the third year in a row that prices have fallen, newspaper Finansavisen reports.

More online shopping and fewer parking spaces already made life miserable for many shops in central Oslo – then came the corona pandemic.

When it comes to trade and stores, this was a crisis we had no previous experience with, Bjørn Næss, leader of the Oslo Handelsstands Forening (OHF) noted in a recent report from the Oslo-based business broker Colliers International.

Fall in prices

For many years, the central part of Karl Johan and parts of Nedre Slottsgate have been Norway’s most expensive area for renting shops and restaurants. 

One year ago, rental prices fluctuated between NOK 20,000 and 25,000 per square meter a year. 

Today, the level has been reduced to between NOK 13,000 and 18,000.

In Hegdehaugsveien you can now rent premises for only BOK 3,000 per meter and further up to a top level of NOK 7,000 – down from NOK 5,000 to 8,000 last year.

© NTB Scanpix / #Norway Today

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