Sector

Eiendom

7,245 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology

Morning company class

Morning company classes are our own division by revenue, not an official standard: Micro NOK 1m–10 MNOK, Small 10 MNOK–50 MNOK, Medium 50 MNOK–500 MNOK, Large from 500 MNOK. Companies are ranked only against others in the same class, and every figure below is for the class you have chosen. What are Morning company classes?

Ranking · 2025 · Morning class Small

Morning class Small · 2025
#	Company	Profile	Score	Change
1	Row Invest AS	Leader	93	−1
2	Gjelseth AS	Leader	92	+5
3	Odysseus AS	Leader	90	0
4	G.S. Invest AS	Leader	89	+22
5	Skansegaten Eiendom AS	Leader	89	+71
6	Fortius AS	Leader	88	–
7	Tromsø Kulkran AS	Leader	87	+30
8	Jeijei AS	Leader	87	+36
9	EA Kapital AS	Leader	86	+1
10	John Nævdal Eiendom AS	Leader	85	+20
11	Belo AS	Leader	85	+7
12	Tobech Invest AS	Leader	85	+42
13	Hejo Consult AS	Leader	84	–
14	BN Lysaker Elveveien AS	Leader	84	+8
15	V-Holding AS	Leader	83	−2
16	Villamar AS	Leader	83	+30
17	Rosa Holding AS	Leader	83	0
18	Regom Invest AS	Leader	83	−2
19	Joakim Burud Holding AS	Leader	83	–
20	FH Holding 2 AS	Leader	83	+8
21	Lillestrøm Sentrumsbolig AS	Leader	82	–
22	Kanalveien 52 B AS	Leader	82	+4
23	Lagopus AS	Leader	81	−6
24	Vikaune Invest AS	Leader	81	−1
25	Ragnhild Plesner AS	Leader	81	+24
26	Vsv Eiendom AS	Leader	80	+4
27	Tananger Leilighetshotell AS	Leader	80	−2
28	Totar AS	Leader	80	–
29	Classic AS	Leader	80	+24
30	Westnofa Eiendom AS	Leader	80	+20
31	Marlin Eiendom AS	Leader	78	–
32	Fredriksvern Motorverksted A/S	Leader	77	+11
33	Investra AS	Leader	77	+7
34	Heimdalsgaten 1 AS	Leader	77	+16
35	Folgerø AS	Leader	77	+31
36	Nygårdsveien 79 AS	Leader	77	+12
37	Møller Mobility Group MI AS	Leader	77	+14
38	Sørvest Holding AS	Leader	77	+26
39	Armadillo AS	Leader	77	+7
40	Hornsgate 7 AS	Leader	76	+59
41	Orkidehøgda 4-6-10 AS	Leader	76	+15
42	Kring Eiendom AS	Leader	76	+59
43	AS P LTZ AASS	Leader	76	+4
44	Depotgata 22 AS	Leader	75	+6
45	Grønland 36 AS	Leader	75	+7
46	Bergenskanten AS	Leader	75	−2
47	Fiber Capital AS	Leader	75	+35
48	Petra Utvikling AS	Leader	75	+27
49	Utleiemegleren AS	Leader	74	0
50	Normotor AS	Leader	74	+21

Download as CSV (opens in Excel)

The rank is the rank in the class. A class with fewer than ten companies is compared with the whole sector. Full ranking · Press mode

Biggest moves · Morning class Small

Granli Eiendom AS
From 2024 to 2025: went from a profit to a loss before tax and the equity ratio fell from 44.8% to 3.0%.
−38
Fiber Capital AS
From 2024 to 2025: the operating margin rose from −46.0% to −17.2% and went from a loss to a profit before tax.
+35
Husvikholmen 6 AS
From 2024 to 2025: the equity ratio fell from 73.0% to 3.7% and revenue fell by 63%.
−35
Aktiv Fredrikstad AS
From 2024 to 2025: went from a loss to a profit before tax and the equity ratio rose from 2.6% to 49.5%.
+34

Summary analysis

Eiendom, Morning class Large: 13 ranked companies in fiscal year 2025.

Best in the sector: Ferncliff Holding AS (score 92, operating margin 99.8%, equity ratio 99.3%). Eiendomsmegler 1 Midt-Norge AS (score 66, operating margin 13.0%, equity ratio 64.0%). Ferncliff Tih AS (score 66, operating margin 99.2%, equity ratio 53.9%).

Weakest in the sector: Spro Havn AS (score 15, operating margin −0.2%, equity ratio 0.5%). OBOS Nye Hjem AS (score 21, operating margin −0.7%, equity ratio 34.8%). Cbre Gws Norway AS (score 32, operating margin 1.0%, equity ratio 14.4%).

Worth a closer look

The median operating margin fell from 11.3% in 2024 to 9.8% in 2025 (1.5 percentage points).
The median equity ratio fell from 39.2% in 2024 to 37.9% in 2025 (1.3 percentage points).
The median revenue growth fell from 10.7% in 2024 to 9.7% in 2025 (1.0 percentage points).
The share with a loss went from 9% in 2024 to 8% in 2025.

Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made

Top lists in the sector · 2025 · Morning class Small

The five largest companies account for 1% of the sector's revenue. Combined profit before tax for the 1,222 ranked companies: 11,260 MNOK.

Highest revenue

Finnestadveien 44 II AS 50 MNOK
Parken Eiendomsmegling AS 50 MNOK
Gardermoen Logistikksenter AS 49 MNOK
Toveien 41 AS 49 MNOK
MALLING & CO Eiendomsutvikling AS 49 MNOK

Operating revenue.

Highest operating margin

Avantor Gullhaug Torg 1 AS 1,467.2%
The Pond AS 449.8%
Torggata 23 AS 180.7%
Asker HQ Invest AS 148.8%
COOP Raufoss Kjøpesenter AS 135.0%

Operating result divided by operating revenue.

Largest profit

The Resource Group Trg AS 2,550 MNOK
Bonheur ASA 866 MNOK
Ppi Samfunnsbygg AS 499 MNOK
Canica Eiendom AS 328 MNOK
Avantor Gullhaug Torg 1 AS 183 MNOK

Profit before tax.

Largest loss

Havfonn AS −119 MNOK
Cmnre S6 AS −82 MNOK
Arbeidsmandsforbundets Hus AS −69 MNOK
BRØDR. Bøckmann AS −56 MNOK
Byggteknikk Prosjekt AS −49 MNOK

Profit before tax, the largest negative.

Most solid

Regom Invest AS 100.0%
V-Holding AS 99.9%
Lillestrøm Sentrumsbolig AS 99.9%
Fortius AS 99.6%
Stortingsgata 6 II AS 99.5%

Equity ratio: equity divided by total assets.

Fastest growth

Brynsengfaret 4 og 6 AS +256.2%
Gjelseth AS +225.4%
Mesterhus Innlandet AS +180.7%
ET Bygg Tomteutvikling AS +167.2%
Aune Utvikling AS +150.7%

Revenue growth from the year before, only from at least NOK 10 million in revenue.

Largest revenue decline

Lørenveien 51 AS −98.0%
Kleivveien Utbygging AS −97.8%
Havfonn AS −97.2%
Jessheim Byutvikling AS −93.1%
Randesund Hageby 5 AS −90.5%

Revenue decline from the year before, only from at least NOK 10 million in revenue.

Biggest climbers

Fiber Capital AS +34.4 points
Aktiv Fredrikstad AS +34.3 points
Ppi Samfunnsbygg AS +33.8 points
Klavenesveien AS +33.3 points
Folgerø AS +31.0 points

Change in index points from the year before.

Biggest fallers

Granli Eiendom AS −38.9 points
Husvikholmen 6 AS −35.9 points
Engebretsen Eiendom AS −34.3 points
Otra Holding AS −32.4 points
Kongsberg Kontoreiendom AS −32.2 points

Change in index points from the year before.

Most employees

Employees according to the Central Coordinating Register.

Highest revenue per employee

TRITON ADVISERS (NORWAY) AS 9.7 MNOK
Oslo Airport City AS 8.2 MNOK
Larre Eiendom AS 7.7 MNOK
AS ASSURANSEGÅRDEN 7.5 MNOK
Storm Norge AS 7.3 MNOK

Only companies with at least 5 employees.

The lists cover ranked companies in the class: operating companies with at least NOK 1m in revenue, without holding companies and excluded ones. Size lists (revenue, profit, employees) count each group once. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.

Quadrant analysis

Positions in the sector · 2025 · Morning class Small

Each company is placed by profitability and solidity, measured as a place from 0 to 100 against the others in the same sector and Morning company class. The bubble shows revenue. Hover over or tap a bubble for the figures, filter by profile or search for a company.

The chart and list show the 400 largest companies by revenue, of 1,232 in the class. Everyone is in the ranking. Full ranking

Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2024 (small ring).

Strandgaten 4 Eiendom AS profitability 42 → 83, solidity 86 → 5
Motorhallen AS profitability 2 → 81, solidity 92 → 93
Folgerø AS profitability 14 → 55, solidity 27 → 83
Solsiden 1 AS profitability 16 → 5, solidity 16 → 79
Aune Utvikling AS profitability 45 → 19, solidity 85 → 31

Lion · LeaderHigh profitability, high solidity
Cheetah · SprinterHigh profitability, lower solidity
Elephant · StewardLower profitability, high solidity
Beaver · BuilderLower profitability, lower solidity

Show the positions as a list

Company	Profile	Profitability	Solidity	In 2024 (profitability / solidity)
Westnofa Eiendom AS	Lion	98	63	–
Row Invest AS	Lion	98	99	–
Otra Holding AS	Cheetah	97	12	97 / 64
Blg Invest AS	Cheetah	96	11	–
BN Lysaker Elveveien AS	Lion	96	73	–
Sørvest Holding AS	Lion	93	72	78 / 49
Haakon Vii's Gate 9 Utleie AS	Lion	93	73	86 / 43
Jernbanetorget 4 AS	Cheetah	93	29	58 / 29
Utleiemegleren AS	Lion	93	71	93 / 79
Villamar AS	Lion	92	87	–
Bjønndalsveien 7 Eiendom AS	Cheetah	91	44	–
Øra Eiendom Utvikling AS	Lion	91	84	85 / 85
Øvre Slottsgate 12 AS	Cheetah	91	33	91 / 32
Odysseus AS	Lion	91	99	91 / 98
Egersund Eiendom Invest AS	Lion	90	82	91 / 70
Biskop Gunnerus' Gate 6 AS	Lion	90	57	90 / 57
Heimdalsgaten 1 AS	Lion	90	83	–
Søren Bulls Vei 2 AS	Lion	90	71	95 / 67
Gmm Eiendom Norge AS	Cheetah	90	11	–
Leirvik Sveis A/S	Cheetah	89	46	90 / 32
Joakim Burud Holding AS	Lion	89	90	–
Gjelseth AS	Lion	89	97	76 / 99
Møller Mobility Group MI AS	Lion	88	89	80 / 94
Leif Hübert Eiendom AS	Lion	87	71	82 / 70
Risavika 1 AS	Lion	86	87	86 / 85
COOP Raufoss Kjøpesenter AS	Lion	86	76	39 / 74
JENSSEN & CO AS	Lion	86	90	–
Møre-Sentrene Moa Syd AS	Lion	85	84	83 / 81
Kjeldås Eiendom AS	Cheetah	84	13	88 / 33
Jonas Lies Gate 20 AS	Cheetah	84	50	86 / 53
Ametco Eiendom AS	Lion	84	72	83 / 67
Tordenskiolds Gate 8-10 AS	Lion	83	78	81 / 77
Strandgaten 4 Eiendom AS	Cheetah	83	5	42 / 86
K2-Relog Industrieiendom AS	Cheetah	82	35	–
Risa Bygget AS	Cheetah	81	45	84 / 51
Tybakktoppen AS	Cheetah	81	19	–
Motorhallen AS	Lion	81	93	2 / 92
Kjeppestadveien 44 AS	Cheetah	80	33	80 / 34
Aksum Eiendomsinvest AS	Lion	80	88	78 / 85
Tveteraas Invest AS	Lion	79	83	30 / 87
Fugleåsen 6 AS	Lion	79	64	78 / 63
Terminalen 4 Lier AS	Lion	79	84	73 / 87
Østre Aker Vei 260 AS	Lion	79	60	74 / 59
Finnestadveien 44 II AS	Cheetah	78	12	78 / 0
Asker HQ Invest AS	Cheetah	77	43	–
Forenede Industrier Finans AS	Lion	77	84	84 / 85
Micheletveien 59-61 AS	Cheetah	76	33	74 / 34
Hamang Næringssenter AS	Lion	76	81	–
Jahrestranda Næringspark AS	Lion	76	95	71 / 94
Damsgårdsveien 161-171 AS	Lion	75	60	62 / 52

The sector in numbers

Summary · fiscal year 2025 · Morning class Small

The sector's median operating margin is 41.5%. 64 of 1,238 companies have negative equity. The median equity ratio is 28.4%.

Companies with accounts1,238

Total revenue24,942 MNOK

Median operating margin41.5%

Median equity ratio28.4%

Share with a loss22%

Share with negative equity5%

All figures are for fiscal year 2025. Ranked: 1,232 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

The total counts each group once: 3 subsidiaries (95 MNOK in revenue) are left out of totals and size lists because their parent in the sector has at least as much revenue, so their sales can run through the parent. They are ranked as usual. Methodology

1 company reports in another currency. Its revenue is converted at the mean rate for the accounting period and makes up 0% of the total.

Climbers and fallers · Morning class Small

Change in rank from 2024 to 2025, for 946 companies ranked in both years.

Climbers

872Klavenesveien ASfrom rank 1,029 to 15766
836Fiber Capital ASfrom rank 883 to 4775
773Bislett Eiendomsmegling ASfrom rank 934 to 16166
756Torggata 23 ASfrom rank 854 to 9871
740Proaktiv Gruppen ASfrom rank 791 to 5174

Fallers

965Husvikholmen 6 ASfrom rank 146 to 1,11131
911Engebretsen Eiendom ASfrom rank 234 to 1,14528
889Granli Eiendom ASfrom rank 302 to 1,19121
869Lyse Eiendom Mariero ASfrom rank 227 to 1,09632
857Kongsberg Kontoreiendom ASfrom rank 93 to 95039

Awards · 2025 · Morning class Small

Most profitableAvantor Gullhaug Torg 1 AS1,467.2%

Fastest growthViken Lagerseksjoner AS160,061.4%

Strongest balance sheetRegom Invest AS100.0%

Largest revenueFinnestadveien 44 II AS50 MNOK

Highest revenue per employeeTRITON ADVISERS (NORWAY) AS9.7 MNOK

Needs attention · 2025 · Morning class Small

751 companies show at least one warning sign. Showing the 15 most important.

criticalFiolveien 6 ASNegative equity · Current ratio below 1 (0.75) · Loss before tax
criticalKLP Snipetjernveien 3 og 9 ASNegative equity · Current ratio below 1 (0.01) · Loss before tax
criticalGrefsen Boligutvikling ASNegative equity · Current ratio below 1 (0.55) · Loss before tax
criticalNedre Kalbakkvei 82 ASNegative equity · Current ratio below 1 (0.02) · Loss before tax
criticalKompass Eiendom ASNegative equity · Current ratio below 1 (0.07) · Loss before tax
criticalMørkved Handelseiendom ASNegative equity · Current ratio below 1 (0.99) · Loss before tax
criticalRaumyr Eiendom ASNegative equity · Current ratio below 1 (0.82) · Loss before tax
criticalBodø Management ASNegative equity · Current ratio below 1 (0.46) · Loss before tax
criticalOmgi ASNegative equity · Current ratio below 1 (0.64) · Loss before tax
criticalVestliveien 8 ASNegative equity · Current ratio below 1 (0.96) · Loss before tax
criticalC5 Invest ASNegative equity · Current ratio below 1 (0.41) · Loss before tax
criticalK Tre ASNegative equity · Current ratio below 1 (0.38) · Loss before tax
criticalSyv Søstre Hotelleiendom ASNegative equity · Current ratio below 1 (0.52) · Loss before tax
criticalLaui ASNegative equity · Current ratio below 1 (0.93) · Loss before tax
criticalValle Wood ASNegative equity · Current ratio below 1 (0.80) · Loss before tax

Sector map · 2025 · Morning class Small

Profitability against solidity for the ranked companies. Size shows revenue. Coral triangle: negative equity. Click to open the company. Outliers are placed on the edge.

The map shows the 400 largest companies by revenue, of 1,232 ranked. Everyone is in the ranking.

Show the map's figures as a table

Company	Operating margin	Equity ratio	Revenue
Finnestadveien 44 II AS	79.2%	4.9%	50 MNOK
Parken Eiendomsmegling AS	20.1%	2.3%	50 MNOK
Gardermoen Logistikksenter AS	37.8%	13.9%	49 MNOK
Toveien 41 AS	55.5%	96.7%	49 MNOK
MALLING & CO Eiendomsutvikling AS	30.0%	35.7%	49 MNOK
Møre-Sentrene Moa Syd AS	80.7%	72.9%	49 MNOK
Lagersjefen AS	8.1%	21.4%	49 MNOK
Skien Vekst AS	47.7%	43.6%	49 MNOK
Mjøstårnet AS	40.7%	20.5%	49 MNOK
BRØDR. Bøckmann AS	−70.1%	32.7%	49 MNOK
Smedvig Eiendom AS	−94.2%	32.1%	49 MNOK
TINHOLT EIENDOMSMEGLING BYGDØY ALLÈ AS	18.6%	4.6%	49 MNOK
TRITON ADVISERS (NORWAY) AS	5.5%	13.3%	48 MNOK
Solheimsgata 21 AS	71.0%	8.2%	48 MNOK
Boligareal AS	6.0%	23.3%	48 MNOK
Hagejordet Utvikling AS	−1.1%	2.3%	48 MNOK
Lagårdsveien 78-80 AS	28.1%	7.0%	48 MNOK
Sæter Terrasse AS	−17.9%	53.4%	47 MNOK
Terningen Eiendom AS	59.0%	72.2%	47 MNOK
Vennatrø Eiendomsdrift AS	−4.6%	3.2%	47 MNOK
Mesterhus Innlandet AS	11.3%	15.8%	47 MNOK
Libakkløkka AS	9.5%	32.8%	47 MNOK
Fredrikstad Innovasjonspark AS	23.1%	40.8%	47 MNOK
Øvre Slottsgate 12 AS	89.1%	18.2%	46 MNOK
Bori Utbygging AS	43.3%	55.2%	46 MNOK
HAV Eiendomsselskap AS	−1.0%	5.3%	46 MNOK
Mestergruppen Tomteutvikling AS	10.2%	4.3%	46 MNOK
Klavenesveien AS	3.8%	40.4%	46 MNOK
Allé Eiendomsmegling AS	15.2%	57.2%	46 MNOK
Øra Eiendom Utvikling AS	88.8%	72.9%	46 MNOK
Skagen Eiendomsforvaltning AS	−10.1%	7.2%	45 MNOK
Frier Vest Asdal AS	43.3%	19.1%	45 MNOK
Steinan Nedre Utbygging AS	−9.4%	24.6%	45 MNOK
AS ASSURANSEGÅRDEN	5.9%	40.4%	45 MNOK
Verkstoppen Boligutvikling AS	3.2%	18.6%	44 MNOK
Row Invest AS	99.3%	98.5%	44 MNOK
Lfa Mjøndalen AS	18.1%	11.0%	44 MNOK
Motorhallen AS	67.9%	88.8%	44 MNOK
Farmannsveien 50 AS	2.8%	58.0%	44 MNOK
Kronstad X AS	72.0%	26.1%	44 MNOK
Via Vika AS	3.7%	35.1%	44 MNOK
Røa Torg Næring AS	24.1%	−8.3%	44 MNOK
Viken Lagerseksjoner AS	28.0%	7.5%	44 MNOK
Fiolveien 6 AS	−9.8%	−33.9%	43 MNOK
KLP Snipetjernveien 3 og 9 AS	75.2%	−11.6%	43 MNOK
Vækerø Eiendom AS	67.7%	2.5%	43 MNOK
Bgo Bygg AS	49.9%	54.3%	43 MNOK
Løren og Økern Eiendomsmegling AS	10.5%	40.5%	43 MNOK
Lagårdsveien 46 AS	73.4%	12.9%	43 MNOK
Ørakerstien AS	5.9%	−92.4%	43 MNOK
Login Vagle AS	74.7%	10.2%	42 MNOK
O MUSTAD & Søn Eiendom AS	23.2%	25.6%	42 MNOK
Nordre Aker Eiendomsmegling AS	28.0%	16.7%	42 MNOK
Grieg Gaarden AS	38.0%	23.7%	42 MNOK
Høyen Eiendom AS	86.0%	29.8%	42 MNOK
Aune Utvikling AS	5.7%	16.4%	42 MNOK
Starship Investments AS	86.8%	93.3%	42 MNOK
Nordiqus Hansagården Eiendom AS	53.8%	23.7%	42 MNOK
Pecunia Eiendom AS	−60.0%	41.7%	42 MNOK
J.K. Utvikling AS	5.6%	−3.1%	42 MNOK
Sibirius Eiendom AS	14.1%	82.7%	42 MNOK
Bergen Helsehus AS	45.1%	32.0%	41 MNOK
Møller Mobility Group MI AS	99.4%	83.0%	41 MNOK
Mesh Oslo AS	−1.3%	25.5%	41 MNOK
Sandefjord Utvikling AS	3.5%	56.8%	41 MNOK
Nygårdsgaten 93-97 AS	60.7%	8.3%	41 MNOK
SOLLI & Partnere AS	11.7%	21.3%	41 MNOK
Folgerø AS	4.1%	71.7%	41 MNOK
Oslo Airport City AS	9.9%	53.3%	41 MNOK
Byggmo Eiendom AS	49.6%	58.7%	41 MNOK
KLP Ranheimsveien 10 AS	59.7%	73.0%	41 MNOK
Posten Eiendom Trondheim AS	65.0%	36.6%	41 MNOK
Alti Mandal AS	50.1%	89.6%	41 MNOK
Frederik Stangs Gate 11/13 AS	−9.5%	20.8%	41 MNOK
Drammensveien 131 AS	58.2%	30.9%	40 MNOK
Malangen Eiendom AS	17.0%	23.7%	40 MNOK
Fjellhamar Bruk Eiendom AS	13.5%	3.5%	40 MNOK
Norgesgruppen Detalj AS	−11.0%	31.1%	40 MNOK
Anton Jenssens Gate 2 AS	72.5%	14.0%	40 MNOK
Avantor Gullhaug Torg 5 AS	122.0%	41.0%	40 MNOK
Villamar AS	97.6%	79.3%	40 MNOK
Hagaløkkveien 26 AS	47.8%	31.4%	39 MNOK
Lyse Eiendom Mariero AS	39.0%	30.1%	39 MNOK
Gyldengården AS	73.4%	7.9%	39 MNOK
Kongsberg Eiendom Holding AS	5.4%	96.8%	39 MNOK
Sluppenvegen 23 AS	58.8%	21.7%	39 MNOK
Unik Terminal AS	84.6%	10.3%	39 MNOK
Noramix Brands AS	−4.0%	31.6%	39 MNOK
Bauda AS	−59.9%	74.0%	39 MNOK
Østre Aker Vei 260 AS	67.2%	36.0%	39 MNOK
Larre Eiendom AS	16.8%	35.6%	39 MNOK
Alveveien Utbyggingsselskap AS	0.1%	−0.3%	39 MNOK
Promenaden Nsg 13 AS	56.9%	62.7%	38 MNOK
CN Eiendomsutvikling AS	38.9%	42.5%	38 MNOK
Otto Sverdrups Plass 4 AS	63.8%	83.4%	38 MNOK
Kollen Bolig AS	−7.9%	14.8%	38 MNOK
Fløylia AS	13.1%	27.1%	38 MNOK
Bøkkerveien 5 AS	54.7%	90.4%	38 MNOK
Kjøita 18 AS	51.8%	25.5%	38 MNOK
Bryn Næringspark AS	62.6%	28.8%	37 MNOK
ET Bygg Tomteutvikling AS	8.5%	33.8%	37 MNOK
Brynsengfaret 4 og 6 AS	−8.2%	38.5%	37 MNOK
Breiviksenteret AS	40.6%	90.0%	37 MNOK
Finansparken Bjergsted AS	35.2%	74.0%	37 MNOK
Vahls Gate 1-3 AS	41.3%	41.2%	37 MNOK
HELI-ONE LEASING (NORWAY) AS	92.9%	39.6%	37 MNOK
BAKKE SØRVIK & Partners AS	22.4%	2.9%	37 MNOK
Lars Jønsson Bolig AS	2.8%	81.5%	37 MNOK
Andersbakken AS	−5.5%	−8.5%	36 MNOK
Galleriet Drift AS	−0.3%	13.7%	36 MNOK
Storm Norge AS	62.8%	92.8%	36 MNOK
Øvre Romerike Eiendomsmegling AS	2.3%	3.4%	36 MNOK
Brødr Maraak AS	11.6%	86.6%	36 MNOK
Tveteraas Invest AS	96.5%	72.6%	36 MNOK
Westnofa Eiendom AS	95.5%	39.5%	36 MNOK
Drammensveien 134 AS	58.1%	97.1%	36 MNOK
Morenen Handelspark AS	57.4%	36.1%	36 MNOK
Q4 Næringsmegling AS	24.6%	19.0%	36 MNOK
Sandsliåsen Utbygging AS	−2.5%	7.9%	36 MNOK
Hangaren Lade AS	73.6%	11.9%	36 MNOK
Kvednanesvegen 75 AS	5.6%	14.0%	36 MNOK
Reitan Eiendom AS	−191.7%	76.7%	36 MNOK
Vestvannet Invest AS	67.0%	47.7%	36 MNOK
Garpeskjær Eiendom AS	53.9%	6.0%	36 MNOK
Banhammaren 25 AS	16.3%	10.0%	36 MNOK
Sørkedalsveien 8 Næring AS	34.0%	13.6%	36 MNOK
Botngård Park AS	0.0%	3.8%	35 MNOK
Bruvin Park AS	41.6%	28.0%	35 MNOK
Aker Brygge Uteareal AS	28.1%	77.5%	35 MNOK
Nebbenes Eiendom AS	−0.2%	−7.8%	35 MNOK
Longvagruppen AS	19.2%	22.8%	35 MNOK
Kystens Hus AS	65.2%	45.0%	35 MNOK
HAFERKAMP & Partnere AS	10.2%	22.6%	35 MNOK
Bislett Eiendomsmegling AS	18.6%	34.0%	35 MNOK
Villaservice Feltutbygging AS	3.8%	30.4%	35 MNOK
Joakim Burud Holding AS	99.4%	85.1%	35 MNOK
Pals Eiendom AS	43.4%	88.3%	35 MNOK
Sterkoder AS	45.2%	13.2%	35 MNOK
Atlas Portefølje 6 AS	16.1%	5.7%	35 MNOK
Vassbotnen 23 AS	31.5%	20.7%	35 MNOK
Bolig for Folket AS	10.0%	63.2%	35 MNOK
Kongsberg Næringsbygg 11 AS	54.3%	41.8%	35 MNOK
Nyheim Utleiebolig AS	81.4%	11.4%	34 MNOK
Økernveien 9 AS	51.9%	10.6%	34 MNOK
Biskop Gunnerus' Gate 6 AS	78.5%	34.5%	34 MNOK
Grefsen Boligutvikling AS	−5.7%	−62.0%	34 MNOK
Senterdrift Bergen AS	−0.5%	1.9%	34 MNOK
Terminalen Rigg AS	15.6%	6.9%	34 MNOK
KLP Munkedamsveien 62 AS	39.2%	34.7%	34 MNOK
Njord Eiendomsforvaltning AS	9.9%	30.8%	33 MNOK
Nedre Kalbakkvei 82 AS	−28.3%	−3.6%	33 MNOK
Constructer Bygg AS	6.5%	36.4%	33 MNOK
Revetal Invest AS	51.8%	44.1%	33 MNOK
Kleivane Utviklingsselskap AS	61.1%	40.7%	33 MNOK
Gjelseth AS	96.0%	96.3%	33 MNOK
Gullgruven Senter AS	46.9%	85.5%	33 MNOK
Fyrstikktorget Eiendom AS	60.2%	77.0%	33 MNOK
Refstadveien 50 AS	54.7%	−1.1%	33 MNOK
JENSSEN & CO AS	85.4%	83.8%	33 MNOK
Haneborgenga AS	12.3%	4.0%	33 MNOK
Kjelsåsveien 161 AS	82.9%	5.9%	33 MNOK
GULLHAUGV. 1-3 AS	34.4%	70.9%	32 MNOK
Nordkraft Eiendom AS	−3.8%	95.5%	32 MNOK
Løkketangen 2-14B AS	22.1%	43.9%	32 MNOK
Norgani Hotell Kna AS	70.2%	35.5%	32 MNOK
Verven 4 AS	18.2%	49.3%	32 MNOK
Bergeland Eiendom AS	66.5%	9.8%	32 MNOK
Olavsvern Group AS	37.4%	43.8%	32 MNOK
Nordre Jarlsberg Brygge AS	−103.5%	28.6%	32 MNOK
Tollbugata 1A AS	48.4%	16.8%	32 MNOK
Horisont Drift AS	−0.2%	44.3%	32 MNOK
Paradis Boligutvikling 1 AS	−10.7%	4.8%	32 MNOK
Bjønndalsveien 7 Eiendom AS	81.9%	25.0%	32 MNOK
Syd Eiendomsmegling AS	13.9%	26.7%	32 MNOK
VOSS STASJON - Hotell AS	64.1%	37.6%	32 MNOK
BOLIG & Eiendom AS	18.1%	34.7%	32 MNOK
Store Norske Spitsbergen Kulkompani AS	7.1%	71.2%	31 MNOK
Trysilhusgruppen AS	−42.5%	33.4%	31 MNOK
Årvoll Konferansesenter AS	4.5%	3.5%	31 MNOK
Ivar Mjåland Eiendom AS	52.0%	32.9%	31 MNOK
Armadillo AS	50.1%	95.4%	31 MNOK
Takst Team AS	10.1%	10.4%	31 MNOK
Soria Moria Eiendomsmegling AS	17.0%	55.5%	31 MNOK
Anthon Eiendom AS	−58.4%	39.0%	31 MNOK
Sluppenvegen 19 AS	59.5%	87.0%	31 MNOK
Torgalmenningen 14 AS	17.6%	40.3%	31 MNOK
Alco Eiendom 3 AS	58.1%	0.6%	31 MNOK
Tordenskiolds Gate 8-10 AS	80.1%	60.2%	31 MNOK
Fagerborg K34 i AS	4.1%	11.1%	31 MNOK
Landkreditt Eiendom AS	0.5%	51.2%	31 MNOK
Storskjæret AS	44.4%	16.2%	31 MNOK
Langgrunnveien AS	24.4%	3.7%	31 MNOK
Jonas Lies Gate 20 AS	84.1%	29.2%	31 MNOK
JM Hansen Eiendom AS	40.6%	20.9%	31 MNOK
Lille Grensen 7 AS	50.6%	90.0%	30 MNOK
Solsiden AS	29.1%	10.9%	30 MNOK
Tandberg Eiendom Avdeling Sentrumsgården Heggedal AS	33.4%	9.3%	30 MNOK
Rosenborggården AS	30.0%	2.3%	30 MNOK
Aktiv Eiendomsmegling Elverum AS	12.2%	9.9%	30 MNOK
Flyt Bolig AS	−4.5%	0.6%	30 MNOK
Relog Drift AS	3.7%	27.3%	30 MNOK
Byggteknikk Prosjekt AS	−24.1%	55.6%	30 MNOK
Glitra Finans AS	32.7%	17.4%	30 MNOK
Gmm Eiendom Norge AS	86.4%	4.1%	30 MNOK
Nip Logistics Brennaveien 20 AS	26.8%	8.4%	30 MNOK
ES Vest AS	53.1%	3.4%	30 MNOK
THOR BERGSENG & CO AS	42.7%	33.8%	30 MNOK
Sørvest Holding AS	85.3%	52.6%	29 MNOK
Posten Eiendom Stavanger AS	68.3%	10.9%	29 MNOK
Oslo Eiendomssenter AS	32.9%	18.4%	29 MNOK
Linkpro Bolig AS	13.8%	29.1%	29 MNOK
Terminalen 4 Lier AS	69.7%	73.9%	29 MNOK
Hamang Næringssenter AS	73.1%	67.6%	29 MNOK
Lerum Brygge AS	−13.7%	15.3%	29 MNOK
Solheimsgaten 7 A AS	55.0%	9.0%	29 MNOK
Solsiden 1 AS	−11.1%	63.0%	29 MNOK
K2-Relog Industrieiendom AS	98.3%	19.6%	29 MNOK
Nordvik Oppgjør AS	40.3%	0.5%	29 MNOK
Posten Eiendom Tromsø AS	56.1%	1.1%	29 MNOK
Vestby Næringspark Joh AS	53.6%	76.2%	29 MNOK
Ringholm 1 AS	77.9%	8.0%	29 MNOK
Marin Eiendomsutvikling AS	34.1%	17.7%	29 MNOK
AS P LTZ AASS	66.3%	92.3%	29 MNOK
Drammen Stasjon Hotell AS	38.6%	12.0%	29 MNOK
Kjellstad Næringspark AS	61.4%	91.0%	29 MNOK
Forenede Industrier Finans AS	96.9%	74.2%	29 MNOK
Stillverksveien 28 AS	64.7%	88.1%	29 MNOK
Smelteverket Eiendom AS	33.5%	34.3%	28 MNOK
E & H Eiendom AS	12.4%	30.2%	28 MNOK
Fyrstikkalléen 3 AS	64.9%	87.1%	28 MNOK
Pirsenteret Drift AS	6.1%	10.9%	28 MNOK
Kompass Eiendom AS	−12.5%	−336.8%	28 MNOK
Bimo Kapital AS	−37.1%	80.5%	28 MNOK
Proaktiv Gruppen AS	24.9%	76.9%	28 MNOK
FH Holding 2 AS	94.7%	96.6%	28 MNOK
Kjeppestadveien 44 AS	67.3%	17.6%	28 MNOK
Holstneset Eiendom AS	−0.5%	12.5%	28 MNOK
Vaxa Property AS	2.9%	30.5%	28 MNOK
Fin Fredag AS	−2.0%	23.2%	28 MNOK
Strandgaten 4 Eiendom AS	78.9%	1.5%	28 MNOK
Risbakken AS	22.6%	69.5%	28 MNOK
PAUS & Paus Eiendom AS	31.2%	76.8%	28 MNOK
Nefna AS	7.5%	6.1%	28 MNOK
Meglerhuset Sør AS	37.4%	57.2%	28 MNOK
Mørkved Handelseiendom AS	44.2%	−4.2%	28 MNOK
Otra Holding AS	93.4%	4.9%	28 MNOK
Frontline Grünerløkka Eiendomsmegling AS	12.1%	25.3%	28 MNOK
Vestbakken Hyttefelt AS	14.2%	0.1%	28 MNOK
Asker HQ Invest AS	148.8%	24.2%	28 MNOK
Bamse Brakar B3 AS	9.9%	2.9%	28 MNOK
Dafro Eiendom AS	16.3%	13.3%	28 MNOK
Smibygg AS	67.5%	11.0%	28 MNOK
Frognerbygg Næring AS	31.0%	86.6%	27 MNOK
L A Meyer Eiendom AS	47.7%	89.3%	27 MNOK
Storgata 44 Tromsø AS	70.2%	5.3%	27 MNOK
Stangeland Næringspark 1 AS	73.2%	32.9%	27 MNOK
Four FM Norway AS	−0.5%	7.5%	27 MNOK
Agderbygg Eiendom AS	9.6%	38.8%	27 MNOK
Aksum Eiendomsinvest AS	68.9%	80.0%	27 MNOK
Solsiden Råholt AS	−17.7%	20.8%	27 MNOK
Lørenveien Næring AS	−50.4%	−7.6%	27 MNOK
SCHALA & Partners Avd Sagene AS	15.5%	31.0%	27 MNOK
Sibas Eiendom AS	45.8%	2.9%	27 MNOK
Scala BØ AS	56.2%	78.5%	27 MNOK
Nebbenes Prosjekt AS	5.9%	4.8%	27 MNOK
Avenyen Eiendom AS	68.0%	37.9%	27 MNOK
Hauer Eiendom AS	3.9%	23.4%	27 MNOK
Fugleåsen 6 AS	79.5%	40.7%	27 MNOK
Egenesgården AS	51.0%	31.9%	27 MNOK
Finansgruppen Eiendom AS	−6.2%	71.8%	27 MNOK
Kullerødsvingen AS	7.8%	8.1%	27 MNOK
Odysseus AS	96.8%	98.4%	27 MNOK
Pilestredet 33 AS	2.1%	35.6%	27 MNOK
Innlandet Treindustri AS	11.3%	7.4%	27 MNOK
GC Helsehus AS	62.3%	1.6%	26 MNOK
Bolette Brygge 1 AS	70.1%	83.6%	26 MNOK
Jernbanetorget 4 AS	83.9%	15.4%	26 MNOK
Bjørnstad Bygg Utvikling AS	7.4%	6.8%	26 MNOK
Kursiv Eiendomsmegling AS	10.2%	41.5%	26 MNOK
Rica Alta AS	66.0%	21.9%	26 MNOK
Fantoft Utvikling AS	48.6%	3.0%	26 MNOK
Micheletveien 59-61 AS	76.2%	18.3%	26 MNOK
Munch Brygge Eiendom AS	74.7%	58.0%	26 MNOK
Haakon Vii's Gate 9 Utleie AS	90.9%	54.3%	26 MNOK
Jahrestranda Næringspark AS	59.6%	91.4%	26 MNOK
Bhotell AS	13.1%	45.3%	26 MNOK
Strandveien 13 AS	50.0%	20.2%	26 MNOK
Hareid Elektriske AS	−32.6%	56.7%	26 MNOK
MAJO PROSJEKT	9.5%	14.9%	26 MNOK
Jessheim Næringspark AS	65.4%	17.7%	26 MNOK
Fuglesangdahl Bolig AS	12.8%	5.4%	26 MNOK
Helsfyr Panorama AS	−10.7%	0.1%	26 MNOK
Henrik Ibsens Gate 4 AS	63.8%	5.8%	26 MNOK
Agenda Eiendom AS	5.0%	21.1%	26 MNOK
Nærland Parken AS	31.2%	9.5%	26 MNOK
Heimdalsgaten 1 AS	90.1%	72.9%	26 MNOK
Jerikoveien 28 AS	53.4%	32.5%	26 MNOK
Mjåvand AS	99.8%	11.4%	26 MNOK
Nøstet Bergen AS	50.4%	2.0%	26 MNOK
Voksenkollen Utvikling AS	−3.1%	−4.1%	26 MNOK
Søren Bulls Vei 2 AS	73.7%	50.9%	26 MNOK
BN Lysaker Elveveien AS	98.9%	53.7%	26 MNOK
Øvre Vollgt 13 AS	52.9%	37.2%	25 MNOK
COOP Raufoss Kjøpesenter AS	135.0%	57.4%	25 MNOK
Bergen Vest Eiendomsmegling AS	1.3%	48.9%	25 MNOK
Ringstad Eiendom AS	3.5%	23.1%	25 MNOK
Ormåsen Utbygging AS	49.3%	23.5%	25 MNOK
Sonshus AS	2.2%	22.6%	25 MNOK
Nils Hansens Vei 27 AS	61.3%	21.8%	25 MNOK
Aalesund Industri og Finans AS	56.2%	73.7%	25 MNOK
Sørumsand Næringspark AS	64.6%	26.5%	25 MNOK
Maskinveien AS	−0.3%	20.7%	25 MNOK
Lakkegata 3-9 AS	63.1%	49.0%	25 MNOK
Sofienberggata 17-19 AS	41.4%	66.7%	25 MNOK
Risavika 1 AS	86.3%	78.1%	25 MNOK
Newsec Sør AS	9.7%	48.8%	25 MNOK
Tybakktoppen AS	63.5%	9.4%	25 MNOK
Boligutvikling Korshagen AS	15.9%	26.5%	25 MNOK
Grønland 67 AS	57.7%	62.9%	25 MNOK
Moss Eiendomsmegling AS	22.1%	8.6%	25 MNOK
Aktiv Haugesund AS	24.5%	23.3%	25 MNOK
Tempeveien 15 AS	61.8%	23.8%	25 MNOK
Mekleriet Sør AS	9.7%	55.6%	25 MNOK
Vsv Eiendom AS	96.5%	96.9%	25 MNOK
Leirvik Sveis A/S	84.9%	26.3%	25 MNOK
Vækerøveien 18-22 AS	−1.1%	50.0%	25 MNOK
Alleen Eiendom AS	48.7%	30.2%	25 MNOK
Jekmo AS	12.6%	6.1%	25 MNOK
Elvegaten Eiendom Invest AS	62.1%	29.0%	25 MNOK
AS STATSTILSATTES HUS	19.3%	23.2%	25 MNOK
Flyporten AS	73.0%	39.9%	25 MNOK
Imr Property AS	14.3%	93.8%	25 MNOK
Tandberg Eiendom Avdeling Agrokvartalet AS	73.3%	77.7%	24 MNOK
Grønland 36 AS	79.7%	86.1%	24 MNOK
Mesterbygg Nordby AS	1.6%	6.2%	24 MNOK
Egersund Eiendom Invest AS	84.1%	70.8%	24 MNOK
Conceptor Bolig AS	−25.6%	50.5%	24 MNOK
Hillevågskvartalet AS	60.9%	26.6%	24 MNOK
SK Bygg og Eiendom AS	0.7%	59.4%	24 MNOK
Extendi AS	58.5%	98.8%	24 MNOK
Damsgårdsveien 161-171 AS	58.7%	36.7%	24 MNOK
Johs Rasmussen AS	−30.2%	91.6%	24 MNOK
Mogeto AS	12.6%	−0.9%	24 MNOK
Risa Bygget AS	73.2%	26.0%	24 MNOK
Kremmergaarden Holding AS	61.1%	32.7%	24 MNOK
Jabe Eiendom AS	35.4%	28.7%	24 MNOK
Kollen Gaustatoppen AS	−0.1%	10.6%	24 MNOK
Høybråtenveien 64 AS	5.6%	−5,728.6%	24 MNOK
Leif Hübert Eiendom AS	73.4%	50.2%	24 MNOK
Bvb Eiendomsmegling AS	11.1%	11.1%	24 MNOK
Norsea Property AS	−55.1%	99.0%	24 MNOK
Belsby Bygg AS	4.0%	67.0%	24 MNOK
Marineholmen Basen AS	62.6%	55.2%	24 MNOK
Falkenborgvegen 28 AS	47.4%	5.0%	24 MNOK
Helsehuset Haugesund AS	40.9%	14.5%	24 MNOK
Mittegetlokale Trondheim AS	8.6%	8.6%	24 MNOK
Moss Bygg og Eiendom AS	11.9%	35.3%	23 MNOK
Viridis Gardermoen AS	41.7%	33.2%	23 MNOK
Steigen Boligutleie AS	2.3%	7.9%	23 MNOK
Øster Hus Fritid AS	0.9%	45.7%	23 MNOK
Eliløkken Sjøside AS	13.0%	14.5%	23 MNOK
BENUM & Johansen AS	3.8%	12.2%	23 MNOK
Eiendomsmegler A AS	1.8%	21.4%	23 MNOK
Frelsesarmeens Næringseiendom AS	44.4%	26.6%	23 MNOK
Eibo Invest AS	4.2%	4.5%	23 MNOK
Blindheim Eiendom AS	36.5%	61.8%	23 MNOK
Grus Eiendom AS	56.3%	17.3%	23 MNOK
MAGNUS & CO AS	28.2%	66.0%	23 MNOK
Norwegian Apartments and Property Rental AS	−0.8%	−3.2%	23 MNOK
Hsha Tomteutvikling AS	13.7%	1.8%	23 MNOK
Eltervaag Eiendom AS	20.8%	29.3%	23 MNOK
Verven 24B AS	−0.6%	−68.7%	23 MNOK
Raumyr Eiendom AS	−10.2%	−73.7%	23 MNOK
Store Landfall AS	34.3%	10.9%	23 MNOK
Sør-Vest Megleren AS	9.3%	32.2%	23 MNOK
Optimuspistor AS	14.6%	92.4%	23 MNOK
Stortingsgata 6 II AS	28.6%	99.5%	23 MNOK
Bergeland Eiendomsdrift AS	7.1%	5.9%	23 MNOK
Posten Eiendom Vestfold AS	45.5%	6.9%	23 MNOK
Fram Hovfaret 10 AS	58.4%	3.6%	23 MNOK
Valdres Storsenter AS	32.5%	53.6%	23 MNOK
Akasia Holding AS	0.8%	87.0%	23 MNOK
Mesna Senter AS	12.3%	16.9%	22 MNOK
VIKEBØ & Jørgensen Nybygg AS	13.3%	31.7%	22 MNOK
Mekleriet Vest AS	15.0%	32.4%	22 MNOK
O. A. Devolds Sønner AS	0.5%	37.5%	22 MNOK
Ametco Eiendom AS	76.5%	52.2%	22 MNOK
Blg Invest AS	88.0%	4.4%	22 MNOK
Regalis Eiendom AS	2.0%	28.1%	22 MNOK
AKTIV ARNA & Åsane AS	5.4%	43.9%	22 MNOK
Cmnre S6 AS	−95.7%	14.9%	22 MNOK
Utleiemegleren AS	101.0%	50.1%	22 MNOK
Sandstuveien 68 AS	51.0%	93.0%	22 MNOK
Selstad Holding AS	66.0%	36.6%	22 MNOK
Berger Terminal Invest II AS	74.5%	92.7%	22 MNOK
Saja Eiendom AS	4.3%	16.1%	22 MNOK
Oro Karihaugveien AS	65.7%	31.3%	22 MNOK
Din Bustad AS	13.8%	78.5%	22 MNOK
Krøgenes Vekst AS	53.3%	35.1%	22 MNOK
Kjeldås Eiendom AS	81.4%	5.3%	22 MNOK

Scenario analysis: the sector's weakest year

The sector's weakest year was 2022, with a median operating margin of 31.0%.

Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal year	Median operating margin	Median equity ratio
2018	–	–
2019	–	–
2020	–	–
2021	–	–
2022 · weakest year	31.0%	10.8%
2023	44.5%	27.0%
2024	45.3%	26.9%
2025	46.3%	27.8%
2026	58.6%	40.2%

In 2022, 24 ranked companies did better than the sector, 20 about the same and 17 weaker.

Held up best in 2022

1HJ Eiendom ASequity ratio 40.8%97.2%
2Viken Boligeiendom ASequity ratio 10.0%94.0%
3Gjønnesjordet 10 ASequity ratio 0.5%88.9%
4Rambolt Eiendom ASequity ratio 74.1%81.8%
5Herock ASequity ratio 89.0%79.7%
6Huitfeldts Gate 15 ASequity ratio 6.3%77.3%
7Gullregnbukta ASequity ratio 4.9%71.5%
8Haakon Knudstad ASequity ratio 71.6%70.8%
9Inventec ASequity ratio 56.2%70.1%
10Marinella Eiendom ASequity ratio 44.8%70.1%

Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology

Drivers in the sector

Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.

Policy rate (prosent)

Latest value: 4.30 (2026-09)

Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 1.0 percentage points.

Policy rate per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Policy rate, annual average	0.08	1.32	3.54	4.50	4.30	4.14 (so far)
Change from the year before	−0.28 percentage points	+1.24 percentage points	+2.22 percentage points	+0.96 percentage points	−0.20 percentage points	−0.16 percentage points
Sector's median operating margin	–	31.0%	44.5%	45.3%	46.3%	58.6%

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 1 November 2026

Construction cost index for dwellings (indeks (2015 = 100))

Latest value: 160.3 (2026M09)

Construction cost index for dwellings rose 4.3% in 2025; the sector's median operating margin rose 1.0 percentage points.

Construction cost index for dwellings per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Construction cost index for dwellings, annual average	124.2	135.1	141.1	146.4	152.7	158.4 (so far)
Change from the year before	+8.7%	+8.8%	+4.4%	+3.7%	+4.3%	+3.7%
Sector's median operating margin	–	31.0%	44.5%	45.3%	46.3%	58.6%

Source: SSB (08651, CC BY 4.0). Source · fetched 1 November 2026

Consumer price index (indeks (2025 = 100))

Latest value: 104.0 (2026M09)

Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 1.0 percentage points.

Consumer price index per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Consumer price index, annual average	84.3	89.2	94.1	97.0	100.0	102.9 (so far)
Change from the year before	+3.5%	+5.8%	+5.5%	+3.2%	+3.0%	+2.9%
Sector's median operating margin	–	31.0%	44.5%	45.3%	46.3%	58.6%

Source: SSB (14710, CC BY 4.0). Source · fetched 1 November 2026

When policy rate fell in 2025, 3,854 of 6,984 ranked companies kept their operating margin at or above the year before. Among the largest: DNB Eiendom AS (−1.5% → 2.9%), Ferncliff Tih AS (−717.9% → 99.2%), Ferncliff Holding AS (78.3% → 99.8%), OBOS Nye Hjem AS (−0.8% → −0.7%), Eiendomsmegler 1 Sør-Norge AS (5.3% → 7.1%).

We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.

The sector in Norway (SSB)

The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.

Enterprises, employment and turnover · 2024

Enterprises: 60,965; +4.0% from 2023
Persons employed: 31,172; −0.2% from 2023
Turnover: NOK 240.4 bn; +8.0% from 2023
Gross operating margin: 50.2%; Gross operating surplus divided by turnover

All enterprises, sole proprietorships included.

Bankruptcies in the industry

217 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −8.8% against the four quarters before (238). That is about 3.6 per 1,000 enterprises.

Foreign-controlled enterprises · 2024

Share of enterprises: 2.5%
Share of persons employed: 6.0%
Share of turnover: 8.6%

SSB publishes this for groups of industries only. The figures are for the group “Omsetning og drift av fast eiendom”.

Source: Statistics Norway (SSB), table 12910, table 10790, table 08085. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.

Latest bankruptcies and liquidations

Bash Eiendom AS 928846342 Voluntary liquidation · 31 October 2026
Brande Eiendom AS 925893811 Voluntary liquidation · 31 October 2026
Brande Holding AS 928469220 Voluntary liquidation · 31 October 2026
Bygnes Bt1 S10 AS 936304664 Voluntary liquidation · 31 October 2026
Cecilie Løvøs Veg 2 AS 813648962 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
Datterselskapet AS 988944041 Voluntary liquidation · 31 October 2026
Eiby AS 827032522 Voluntary liquidation · 31 October 2026
Eidettoppen Eiendom AS 928086127 Voluntary liquidation · 31 October 2026

All bankruptcies and liquidations in the sector

Industry codes (NACE)

Code	Description
68*	Hele hovedgruppe 68
68.110	Kjøp og salg av egen fast eiendom
68.120	Utvikling og salg av byggeprosjekter
68.200	Utleie av egen eller leid fast eiendom
68.310	Eiendomsmegling og andre formidlingstjenester for eiendom
68.320	Eiendomsforvaltning på oppdrag