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Yes, the analysis of Bergen's property market is included in our pack
Thinking about buying a 3-bedroom apartment in Bryggen? It’s a great area, but you're probably wondering: is now the right time to buy, or should you wait for prices to drop?
And what about long-term investment—should you look into other neighborhoods like Sandviken or Fana where property values might appreciate more over time?
In this article, we’ll answer these questions. We know this market quite well - and we have put all our knowledge in the Bergen Property Pack.
Will property prices increase in Bergen in 2025?
Yes, property prices in Bergen are expected to rise in 2025, driven by a combination of high demand and a limited supply of housing.
Backed by our fresh, in-depth market analysis, we’re confident that Bergen remains an attractive city for both domestic and international investors.
While there are some economic challenges like inflation and rising interest rates, the main drivers behind Bergen’s price growth remain strong.
Demand, especially in the central areas, continues to outpace supply, making significant price drops unlikely. Bergen's appeal as a cultural and economic hub continues to attract buyers.
Signals pointing to a property price increase in Bergen
Here are some factors suggesting prices could increase:
The limited availability of land for new developments in Bergen is expected to persist, keeping supply tight and supporting price increases, particularly in desirable neighborhoods.
Bergen's growing reputation as a tech and innovation hub is attracting professionals and businesses, increasing demand for residential properties in the city.
Infrastructure improvements, such as enhanced public transportation and road networks, are set to improve connectivity in 2025, making Bergen more accessible and attractive to potential buyers.
The city's scenic beauty and quality of life continue to draw interest from both domestic and international buyers, sustaining demand for properties in the area.
Government initiatives to promote sustainable living and energy-efficient homes are expected to increase the value of properties that meet these standards, contributing to overall price growth.
Bergen's educational institutions and cultural attractions are attracting students and tourists, boosting demand for rental properties and investment opportunities.
The trend of remote working is encouraging more people to move to Bergen for its lifestyle benefits, increasing demand for housing in the city.
Signals pointing to a property price decrease in Bergen
Here are some factors suggesting prices could fall:
Economic uncertainties, including potential global market fluctuations, could impact buyer confidence and reduce demand for properties in Bergen.
Rising interest rates may make it more difficult for buyers to secure affordable mortgages, potentially dampening demand in the housing market.
Inflation and increased living costs could strain household budgets, reducing the purchasing power of potential buyers and impacting demand for properties.
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If property prices go up in Bergen, how much would they increase by?
If real estate prices in Bergen were to rise in 2025, the increase would likely be around 3% to 7% of their 2024 values.
Typically, real estate in stable, mature markets like Bergen appreciates by approximately 2% to 7% annually over the long term. However, fluctuations can occur depending on factors such as region, season, and property type.
It means that, if you spot a charming 2-bedroom apartment in Bryggen for 5,000,000 NOK today, don't be surprised if it's priced between 5,150,000 and 5,350,000 NOK this time next year.
To give you a better understanding, here is a table that shows 7 types of Bergen real estate properties, their estimated prices in 2024, and projections for 2025 based on potential price increases of 2%, 5%, and 7%.
| Type of Property | Average Price in 2024 (NOK) | Price in 2025 (2% increase) | Price in 2025 (5% increase) | Price in 2025 (7% increase) |
|---|---|---|---|---|
| Traditional Apartment (60 sqm / 646 sqft) | 5,500,000 | 5,610,000 | 5,775,000 | 5,885,000 |
| Modern Apartment (75 sqm / 807 sqft) | 7,000,000 | 7,140,000 | 7,350,000 | 7,490,000 |
| Luxury Penthouse (100 sqm / 1,076 sqft) | 12,000,000 | 12,240,000 | 12,600,000 | 12,840,000 |
| Studio (30 sqm / 323 sqft) | 3,000,000 | 3,060,000 | 3,150,000 | 3,210,000 |
| Loft (80 sqm / 861 sqft) | 8,500,000 | 8,670,000 | 8,925,000 | 9,095,000 |
| Townhouse (150 sqm / 1,615 sqft) | 15,000,000 | 15,300,000 | 15,750,000 | 16,050,000 |
| Investment Property (50 sqm / 538 sqft) | 4,500,000 | 4,590,000 | 4,725,000 | 4,815,000 |
Everything you need to know is included in our Property Pack for Bergen
If real estate prices go up in Bergen, which areas are likely to see the biggest increases?
Today, people who want to move to Bergen are looking for a blend of historical charm and modern amenities, which Bryggen offers. Hence, we could see a price increase there in 2025.
Also, lately, there's been a shift toward more youthful, vibrant neighborhoods, and Nygårdshøyden has really taken off.
We like it when information is clear and easy to digest. So, here’s a table that highlights the areas where prices might rise the most, along with the reasons behind those expected increases. It’s very high-level. If you want more details on a specific area, please check our real estate pack tailored to the Bergen market.
| Neighborhood | Level of Increase | Why |
|---|---|---|
| Bryggen | High | Recent development of luxury housing projects and its increasing appeal to international buyers as travel normalizes post-pandemic, driving demand. |
| Sandviken | High | Expected rise due to limited housing stock, upcoming renovations to heritage buildings, and growing demand for prime properties in central Bergen. |
| Møhlenpris | Medium-High | Ongoing gentrification and new transport links, along with several planned redevelopment projects in the area, are likely to push prices higher. |
| Fyllingsdalen | Medium | The shift towards hybrid workspaces is driving demand for residential properties near business districts, combined with new mixed-use developments. |
| Årstad | Medium-High | Eco-friendly urban projects and recent construction of new schools and parks are increasing its attractiveness for families, pushing prices upward. |
| Nordnes | Medium | Investment in local infrastructure, such as the extension of tram lines and renovation of historic areas, is boosting long-term value. |
| Nygårdshøyden | High | Upcoming large-scale urban regeneration projects and improved public transport access are expected to make this area more desirable. |
| Laksevåg | Medium-High | Its proximity to central Bergen, along with new office and residential developments, makes it increasingly attractive to professionals seeking more space. |
| Landås | Medium | Gentrification and cultural regeneration projects are attracting new residents, leading to rising prices as the area becomes more fashionable. |
| Nesttun | High | As new luxury developments are launched, demand for premium housing among wealthy buyers is expected to further increase property values. |
| Fana | High | Upcoming restoration of historic sites and high-profile cultural projects are driving a renewed focus on this central, historic location. |
-The best areas to buy a property in Bergen
If I'm looking to invest in real estate, what types of properties should I focus on for the best value appreciation in Bergen?
In 2025, Bergen real estate trends focus on tech-smart, energy-efficient apartments, larger suburban homes for families, properties with outdoor spaces, and eco-friendly buildings—all driving higher demand and prices. Here is a summary.
- Tech-Equipped and Energy-Efficient Apartments:
Driven by remote work and sustainability trends, these homes offer smart technology features and energy-saving systems. They cater to young professionals and tech workers, making them a hot commodity in 2025.
- Family-Sized Apartments in Suburban Areas:
With a growing demand for larger living spaces, especially among families, suburban areas near Bergen are seeing increased interest. Proximity to green spaces and schools is a major factor driving value.
- Properties with Outdoor Spaces:
Post-pandemic, outdoor spaces like terraces, balconies, or gardens have become highly desirable. In a city surrounded by stunning natural landscapes like Bergen, these features offer a much-needed escape and are likely to drive up property values.
- Eco-Friendly Buildings with Low Carbon Footprints:
Bergen's commitment to sustainability is boosting demand for eco-certified buildings. Buyers are increasingly valuing properties that align with the city’s green goals, leading to price appreciation in this category.
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