About taxable valuation of residential/holiday property abroad
When calculating wealth tax, you must normally include all your assets, valued at what they are worth on the open market.
However, residential and holiday properties, among other things, a lower value known as the 'taxable value’, must be used as a basis when calculating wealth tax, rather than the full market value.
When you are considered a tax resident in Norway, wealth in the form of real property abroad will normally also be liable for tax in Norway.
Examples of holiday and residential property abroad are holiday homes, country houses and apartments. Shares in holiday complexes (timeshares) abroad may also be considered as holiday property under Norwegian rules.