Will real estate prices in Bergen go up in 2025?

Authored by the expert who managed and guided the team behind the Norway Property Pack

Yes, the analysis of Bergen's property market is included in our pack

Bergen's property market is experiencing significant price increases as we reach mid-2025.

Property prices in Bergen have risen by 8.2% over the past year, with forecasts predicting a further 7-9% increase throughout 2025. The city center has seen the most dramatic growth at 9.2%, while infrastructure projects and limited housing supply continue to drive values upward across all districts.

If you want to go deeper, you can check our pack of documents related to the real estate market in Norway, based on reliable facts and data, not opinions or rumors.

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Who is the author of this content?

INVESTROPA

A team specialized in real estate investing in European countries

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Bergen. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At Investropa, we explore the Norwegian real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Oslo, Bergen, and Trondheim. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

What is the current average home price in Bergen as of June 2025?

The average home price in Bergen has reached 4.55 million NOK as we approach mid-2025.

This represents a substantial increase from 3.95 million NOK recorded in August 2023, showing the strong upward momentum in Bergen's property market. The price level reflects Bergen's position as Norway's second-largest city and a major economic hub on the west coast.

The current pricing places Bergen slightly below Oslo but significantly above many other Norwegian cities. For international buyers, this translates to approximately €385,000 or $420,000, depending on exchange rates. The city center commands the highest prices, with apartments averaging 5.2 million NOK, while suburban areas offer more affordable options starting around 3.8 million NOK.

Block apartments and city center properties have led the price surge, indicating strong demand for urban living among young professionals and families. The average price per square meter in Bergen now stands at approximately 55,000 NOK, with prime locations exceeding 70,000 NOK per square meter.

As of June 2025, Bergen's property market continues to show resilience despite global economic uncertainties, supported by strong local employment and ongoing infrastructure development.

How much have property prices increased in Bergen over the past year?

Property prices in Bergen have increased by 8.2% over the past year, marking one of the strongest growth periods in recent history.

Different sources report varying figures, with some indicating a 2.7% increase in March 2024 compared to the previous year, while others show a 3.1% rise in used residential properties. The overall consensus points to an 8.2% annual increase, with rental prices also surging by 7.1% compared to May 2023.

The price growth has been particularly pronounced in certain property segments. Block apartments have experienced the highest increases, followed by city center apartments. Family homes in suburban areas have seen more moderate but still significant growth, reflecting diverse buyer preferences and market dynamics.

Monthly variations have been notable, with some months showing seasonally adjusted increases of up to 1.9%. The consistent upward trend throughout 2024 and into 2025 demonstrates the market's strength and buyer confidence in Bergen's long-term prospects.

It's something we develop in our Norway property pack.

Which Bergen neighborhoods are experiencing the fastest property price growth in 2025?

The city center leads Bergen's property price growth with a remarkable 9.2% increase in 2024 alone.

Åsane has emerged as a property investment hotspot, benefiting from major infrastructure projects including the Bergen Light Rail expansion. The improved connectivity is expected to drive property values even higher as the project nears completion.

Neighborhood	Price Growth	Key Drivers
City Center	9.2%	High demand for urban living, proximity to amenities
Åsane	7.5%	Light Rail expansion, infrastructure improvements
Solheimsviken	7.1%	Waterfront redevelopment, tram line Bybanen
Arna	6.8%	E16 and Vossebanen projects
Sandviken	6.5%	Cultural transformation, creative center development

Solheimsviken's waterfront redevelopment and new tram line connections are transforming this area into one of Bergen's most sought-after districts. Property values here are rising steadily as new commercial and residential projects reshape the neighborhood.

Arna benefits from significant infrastructure improvements, including the E16 highway expansion and Vossebanen railway projects, making it increasingly attractive for families seeking better connectivity while maintaining suburban lifestyles.

What types of properties are seeing the biggest price increases in Bergen?

Block apartments have emerged as the clear leader in Bergen's property price surge, reflecting strong urban demand.

City center apartments are particularly popular among young professionals and students, driving both purchase prices and rental yields to new heights. These properties typically offer modern amenities, proximity to workplaces, and access to Bergen's vibrant cultural scene, making them highly desirable investments.

Suburban family homes are experiencing moderate but consistent price increases as families seek larger living spaces. The demand for properties with gardens, home offices, and multiple bedrooms has intensified since 2023, pushing prices up by approximately 5-6% annually in family-oriented neighborhoods.

Waterfront properties and those with fjord views command premium prices, with some experiencing price increases of 10% or more. The scarcity of such properties combined with Bergen's natural beauty makes these particularly attractive to both domestic and international buyers.

New construction apartments with energy-efficient features and smart home technology are seeing substantial price premiums, often 15-20% above comparable older properties.

Is there currently a housing shortage or surplus in Bergen as of June 2025?

Bergen faces a significant housing shortage in mid-2025, affecting both purchase and rental markets.

New housing construction has failed to keep pace with population growth and demand. Only 11,000 new homes were built across Norway in 2023, with Bergen receiving a proportionally small share. Although residential developments in Bergen increased by 9% in 2024, this growth remains insufficient to meet the rising demand from new residents and investors.

The shortage is particularly acute in affordable housing segments and rental properties. Young professionals and families struggle to find suitable accommodations, leading to fierce competition and rapid price increases. The average time to sell a property in Bergen has dropped to just 25 days, one of the shortest in Norway.

Geographic constraints unique to Bergen, including mountains and fjords, limit developable land and exacerbate the supply shortage. Combined with strict building regulations and high construction costs, these factors continue to constrain new supply.

The housing shortage is expected to persist through 2025 and beyond, supporting continued price growth and making Bergen's property market increasingly competitive for buyers.

What economic factors are currently driving Bergen's property prices upward?

Strong employment growth and rising wages in Bergen are fundamental drivers pushing property prices higher in 2025.

The city's diverse economy, anchored by oil and gas, maritime industries, technology, and tourism, provides stable employment opportunities. Average wages in Bergen have increased by 5.2% over the past year, enhancing residents' purchasing power and their ability to afford higher property prices.

Population growth of 1.8% annually, driven by domestic migration and international arrivals

Limited housing supply with only 9% increase in new developments versus 15% increase in demand

High construction costs, approximately 20% above the national average

Infrastructure investments totaling 12 billion NOK improving connectivity and livability

Tourism growth bringing investment interest and short-term rental opportunities

Interest rate adjustments by Norges Bank have made borrowing more attractive, with rates expected to decline from 4.5% to 3.25% throughout 2025. This monetary easing has restored buyer confidence and increased mortgage affordability, contributing to renewed market activity.

Bergen's appeal to remote workers and international companies establishing Norwegian operations adds another layer of demand, particularly for high-quality residential properties in well-connected neighborhoods.

How are the recent Norwegian interest rate changes affecting Bergen's market?

Interest rates in Norway are declining throughout 2025, significantly boosting Bergen's property market activity.

The Norwegian base rate is expected to drop from 4.5% to 3.25% by the end of 2025, making mortgages more affordable for buyers. This represents a substantial shift from the peak rates of 2023-2024, when many potential buyers were priced out of the market.

Lower interest rates have immediately translated into increased borrowing capacity. A typical Bergen family can now afford approximately 500,000 NOK more in mortgage debt compared to early 2024, expanding their property options significantly. This has particularly benefited first-time buyers who were previously struggling with affordability.

Mortgage applications in Bergen have increased by 34% in the first quarter of 2025 compared to the same period in 2024. Banks report strong demand for both new purchases and refinancing, with many homeowners taking advantage of lower rates to upgrade their properties.

The interest rate reduction has also stimulated investor activity, with many viewing Bergen real estate as an attractive alternative to traditional savings products offering minimal returns.

It's something we develop in our Norway property pack.

What impact are the 2025 mortgage lending rules having on Bergen buyers?

New mortgage lending rules introduced in 2025 present both challenges and opportunities for Bergen property buyers.

The stricter regulations include lower loan-to-income caps and mandatory stress tests, making it harder for some buyers to qualify for larger loans. However, the required down payment has been reduced from 15% to 10%, partially offsetting these restrictions and making market entry easier for first-time buyers with limited savings.

Young professionals in Bergen have particularly benefited from the lower down payment requirement. For an average Bergen apartment priced at 4.55 million NOK, buyers now need 455,000 NOK upfront instead of 682,500 NOK, a significant reduction that has brought homeownership within reach for many.

The stress testing requirements ensure buyers can afford their mortgages even if interest rates rise by 3 percentage points. While this limits borrowing capacity, it has created a more stable market with fewer risky loans, contributing to long-term market health.

Despite these restrictions, strong market fundamentals in Bergen continue to support price growth, with demand exceeding supply even with tighter lending criteria.

Are foreign buyers significantly influencing Bergen's property market in 2025?

Foreign buyers maintain a steady but not dominant presence in Bergen's property market as of June 2025.

International interest comes primarily from European Union citizens, particularly from Germany, Denmark, and Sweden, who appreciate Bergen's quality of life and natural beauty. North American and Asian buyers also show interest, though in smaller numbers. These foreign investments typically focus on premium properties in central locations or scenic waterfront areas.

Unlike some major European cities, Bergen hasn't experienced dramatic foreign investment surges. International buyers account for approximately 8-10% of transactions, providing market support without creating the speculation seen in other markets. This balanced level of foreign interest contributes to market stability.

Many foreign buyers are professionals relocating for work in Bergen's energy or maritime sectors, purchasing homes for personal use rather than investment. Others are attracted by Norway's political stability and Bergen's growing reputation as a sustainable, livable city.

The stable foreign buyer presence supports demand, particularly in the luxury segment, but domestic buyers remain the primary market drivers in Bergen.

Which infrastructure projects will boost Bergen property values through 2026?

The Bergen Light Rail expansion stands as the most significant infrastructure project driving property values upward.

The Light Rail extension to Åsane, scheduled for completion by 2026, is already influencing property prices along the planned route. Properties within walking distance of future stations have seen price premiums of 10-15% compared to similar properties elsewhere, as buyers anticipate improved connectivity and convenience.

Infrastructure Project	Expected Completion	Impact on Property Values
Bergen Light Rail to Åsane	2026	10-15% premium near stations
Sotra Connection	2027	8-12% increase along corridor
Solheimsviken Waterfront	2025-2026	15-20% value uplift
NBF Railway Modernization	2026	5-8% in affected areas
E16 Highway Expansion	2026	6-10% in Arna district

The Sotra Connection, a major road and bridge project improving access between Bergen and Sotra island, is creating new investment opportunities. Properties along this corridor are experiencing steady appreciation as completion approaches.

Waterfront redevelopment in Solheimsviken combines residential, commercial, and cultural facilities, transforming this former industrial area into a vibrant mixed-use district with substantial property value increases expected.

What are experts predicting for Bergen property prices over the next 5 years?

Real estate experts forecast continued but moderated growth for Bergen's property market through 2030.

Eiendom Norge, Norway's leading real estate association, predicts Bergen property values will increase by 7-9% in 2025 alone, with some estimates reaching 10%. This optimistic outlook reflects strong market fundamentals, including population growth, limited supply, and ongoing infrastructure investments that enhance the city's appeal.

Medium-term forecasts for 2026-2028 suggest annual price growth of 4-6%, a more sustainable pace than the rapid increases seen in recent years. Areas benefiting from new infrastructure, particularly those along the Light Rail expansion and waterfront developments, are expected to outperform the broader market.

Long-term predictions through 2030 indicate steady appreciation of 3-4% annually, aligning with wage growth and inflation. Experts emphasize that while Bergen won't see the explosive growth of 2021-2022, the market will remain robust due to persistent housing shortages and the city's economic strength.

Tom Jørgensen from PrivatMegleren notes the market has shifted decisively in favor of sellers, with this trend expected to continue as new construction fails to meet demand and Bergen's population continues growing.

Should international investors consider Bergen real estate in late 2025?

Bergen presents compelling opportunities for international real estate investors in late 2025.

The combination of steady price appreciation, strong rental demand, and Norway's political stability makes Bergen attractive for long-term investment. With property values expected to rise 7-9% in 2025 and continued growth forecast through 2030, investors can anticipate solid returns while benefiting from currency diversification.

Rental yields in Bergen range from 3.5% to 5.2%, depending on property type and location. While not the highest in Europe, these yields come with exceptional market stability and tenant quality. The city's housing shortage ensures consistent rental demand, particularly for well-located apartments near universities and business districts.

Infrastructure improvements scheduled through 2027 create specific investment opportunities in emerging neighborhoods. Properties in areas like Åsane and Solheimsviken offer potential for above-average appreciation as major projects near completion.

Norway's transparent legal system, strong property rights, and absence of restrictions on foreign ownership facilitate international investment. However, investors should consider the relatively high transaction costs of approximately 2.5% and Norway's tax implications.

For patient investors seeking stable, long-term growth in a mature market, Bergen real estate offers an attractive proposition in late 2025.

It's something we develop in our Norway property pack.

We made this infographic to show you how property prices in Norway compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It's an easy way to spot where you might get the best value for your money. We hope you like it.

Are current Bergen property prices sustainable or heading for a correction?

Bergen's property prices appear sustainable based on strong market fundamentals rather than speculation.

Unlike previous boom periods driven by easy credit and speculation, the current price growth stems from genuine supply-demand imbalances. With only 11,000 new homes built annually across Norway against much higher demand, Bergen's housing shortage provides solid support for current valuations.

Economic indicators support price sustainability. Bergen's unemployment rate remains below 3%, wage growth continues at 5% annually, and the city's diverse economy provides resilience against sector-specific downturns. The oil and gas industry's recovery, combined with growth in technology and renewable energy sectors, ensures steady employment and income growth.

While some market cooling is possible if interest rates rise unexpectedly or global economic conditions deteriorate, a significant correction appears unlikely. The 2025 market shows none of the warning signs typical before major corrections: speculation is limited, household debt levels are manageable, and lending standards remain prudent.

Experts consensus suggests prices may moderate to 3-4% annual growth by 2027, representing a healthy normalization rather than a correction. Bergen's structural housing shortage and continued population growth provide a floor under prices, making a significant downturn improbable.

What are the latest mortgage rates available in Bergen as of June 2025?

Mortgage rates in Bergen have become significantly more favorable, with typical rates now ranging from 3.25% to 4.25%.

First-time buyers with standard 10% down payments can access rates around 3.75-4%, while those with larger deposits of 20% or more may secure rates as low as 3.25%. These represent substantial improvements from the 5.5-6% rates common in late 2023, making homeownership more accessible for Bergen residents.

Variable rate mortgages remain popular, offering initial rates around 3.5% with the flexibility to benefit from further rate decreases. Fixed-rate options for 3-5 year terms are available at approximately 4-4.25%, providing payment certainty for risk-averse borrowers.

Banks in Bergen report increased competition for mortgage business, leading to better terms and faster approval processes. Many lenders now offer online applications with decisions within 24-48 hours, streamlining the purchase process for eager buyers in the competitive Bergen market.

Young professionals with stable employment in Bergen's key industries often receive preferential rates and terms, reflecting banks' confidence in the local economy and employment market.

Which property features are most valuable in Bergen's current market?

Energy efficiency and sustainable features command the highest premiums in Bergen's 2025 property market.

Properties with heat pumps, solar panels, and superior insulation sell for 10-15% more than comparable homes without these features. Bergen buyers increasingly prioritize low energy costs and environmental responsibility, making green certifications particularly valuable. The average cost of installing a heat pump in Bergen is approximately 30,000 NOK, but this investment typically adds 50,000-75,000 NOK to property value.

Balconies or terraces with fjord views - add 15-20% to property value

Home office spaces or flexible rooms - 8-10% premium since remote work normalization

Modern kitchens with high-end appliances - 5-8% value increase

Parking spaces, especially in city center - 150,000-200,000 NOK per space

Storage rooms and practical layouts - increasingly important for families

Smart home technology integration - 3-5% premium for comprehensive systems

Proximity to Light Rail stations - 10-15% location premium

Outdoor spaces have become essential rather than luxury features. Properties with private gardens, large balconies, or roof terraces attract multiple offers and sell faster than those without outdoor access.

Modern bathrooms with quality fixtures and underfloor heating are expected standards, with renovated bathrooms adding significant value to older properties.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. Bergen Real Estate Trends - Investropa
2. Price Change of Dwellings in Bergen - Statista
3. Bergen Real Estate Market Analysis - Investropa
4. Property Investment in Bergen - Investropa
5. Bergen Real Estate Forecasts - Investropa
6. Best Areas in Bergen for Investment - Investropa
7. Norway Real Estate Outlook 2025 - CBRE
8. Lower Mortgage Rates in Norway 2025 - Local Market
9. Price Rise and Record Volumes - Eiendom Norge
10. Norway Price Forecasts - Investropa