Norway Construction Market Overview
Norway's residential construction market is currently contracting, with housing starts of 21K in 2023 — 31% below the 10-year average of 31K.
The country's recorded peak was 38K units in 2016. Current activity is -44% below that peak.
Among the 21 OECD countries tracked, Norway ranks #19 by total housing starts. Year-over-year change is -27.6%, reflecting declining permits and reduced construction activity.
For contractors working in Norway: A contracting market may create opportunities to negotiate better material pricing or lock in subcontractor rates.