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
Why is Bergen emerging as a prime location for property investment in 2025? Is it the city's robust rental market, its thriving cultural scene, or the relative affordability compared to other European cities? What makes Bergen particularly appealing to investors?
We often encounter these questions because we're actively engaged with local developers, real estate agents, and investors like you. Given the growing interest in Bergen's market, we've decided to compile our insights into a comprehensive article for everyone's benefit.
Our aim is to present a compelling case for investing in Bergen's real estate market, drawing from our firsthand experience and in-depth market knowledge.
If you feel we've overlooked an important aspect or want more information, please reach out (we respond very quickly). Your feedback enhances our content.
Finally, please remember that this is not financial or investment advice. Real estate investment involves inherent risks, and market conditions can change unexpectedly. We strongly recommend conducting thorough research and consulting with a qualified financial advisor before making any investment decisions.
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1) In Bergen, properties with views are in high demand due to its stunning landscapes and fjords
Bergen's stunning landscapes and fjords make properties with views incredibly desirable.
In 2024, property prices in Bergen have been climbing for the third year in a row, showing just how much people want to live here. Homes with those breathtaking views are a big part of this trend, pushing demand and prices up.
Real estate listings back this up, with a 4.2% increase in listings in August 2023 compared to the previous year. This jump hints that more folks are eyeing Bergen, especially those homes with killer views. Plus, these properties often mean better rental returns, thanks to the area's tourist draw and natural charm.
Bergen's popularity as a tourist hotspot is another piece of the puzzle. In 2023, 11.46 million tourists flocked to Norway, and Bergen was a major stop. The city's focus on sustainable tourism and its jaw-dropping scenery keep it on the map, boosting the demand for those scenic-view homes.
Media and social media are buzzing about Bergen's gorgeous fjords and landscapes, making it even more attractive to buyers from near and far. This buzz is a magnet for both local and international property seekers.
Sources: Deleiebolig, Visit Bergen, Statista, Road Genius
2) Bergen’s festivals and events make it easy to earn short-term rental income
Bergen's annual festivals are a goldmine for short-term rental income.
Take the Bergen International Festival, for instance. It's Northern Europe's largest music and theater festival, and it draws a massive crowd. With around 200 events, the demand for places to stay skyrockets, making it a prime time for property owners to cash in.
During these festivals, like Bergenfest, rental prices shoot up. Visitors are eager to pay more for unique stays and unforgettable experiences. This willingness to splurge means property owners see their income soar during these bustling times.
Statistics back this up, showing a 95% increase in foreign visitors to Bergen during festival seasons over the past six years. This surge underscores the growing allure of the city's events and the booming demand for short-term rentals.
Media coverage plays a big role too. It often highlights the charm of Bergen's festivals, drawing international eyes and further fueling the need for accommodations. This buzz ensures that property owners can capitalize on the influx of tourists.
For those considering buying property in Bergen, these festivals are more than just cultural highlights. They're a chance to tap into a lucrative market, especially when the city is alive with music, art, and theater. Owning a rental property here during festival times could be a smart investment.
Sources: Enso Connect, Visit Bergen, Bergen International Festival
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Norway. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
3) Properties near transit hubs in the city are more appealing due to the efficient public transport system
The city's efficient public transport system makes properties near transit hubs more attractive.
Living near the Bergen Light Rail line means higher property values thanks to easy access to transportation. This convenience cuts down on travel costs, making these areas even more appealing.
With the opening of line 2, commuting times have dropped significantly, drawing more people to properties near these hubs. The influx of commuters also boosts local businesses, creating a lively community atmosphere.
The government is pouring resources into expanding the public transport network, like the development of line 2, showing a strong commitment to improving the system. This investment makes properties near transit hubs even more enticing.
Bergen's urban planning policies are designed to encourage growth around transit hubs. This approach promotes mixed-use development and compact neighborhoods, making these areas vibrant and convenient places to live.
All these factors combined make properties near Bergen's transit hubs a smart choice for potential buyers. The city's focus on public transport not only enhances property values but also enriches the local community.
Sources: Skyss Annual Report 2023, ITDP, ResearchGate
4) In Bergen, limited land in the city center boosts property values
Bergen's city center is hemmed in by natural features like fjords and bays, which means there's limited land for new construction.
With Bergen's population steadily growing, reaching around 292,516 in 2024, more people are eager to call this city home. This surge in residents naturally boosts the demand for housing, especially in a place where space is tight.
In Bergen, the scarcity of available properties often sparks bidding wars. Buyers find themselves in fierce competition, driving up prices as they vie for a spot in this sought-after area.
Living in central Bergen is highly desirable, and people are willing to pay a premium for it. The limited space and high demand mean that property values are consistently on the rise.
For those considering a move to Bergen, it's important to know that the city's unique geography plays a big role in property pricing. The natural barriers not only add to the charm but also to the cost of living here.
So, if you're eyeing a property in Bergen, be prepared for a competitive market where every square meter is precious.
Sources: World Population Review, Wikipedia
5) Bergen’s commitment to sustainability makes eco-friendly properties more attractive
Bergen is making waves with its focus on sustainable urban development, making eco-friendly properties a hot commodity.
Thanks to the city's investment in green infrastructure, like the regenerative masterplan by TREDJE NATUR, Bergen is setting the stage for zero-emission districts and buildings made from renewable materials. This is not just about aesthetics; it's about creating a healthier environment for everyone.
Eco-friendly housing is in demand, with developments such as "The Sea Quarter" and "The Sugarhouse Square" leading the charge. These projects are all about sustainable living, drawing in buyers who care about renewable and reusable materials. Plus, Bergen's Green Strategy offers government incentives that make sustainable building practices even more attractive.
Surveys show that people are leaning towards sustainable living, and Bergen is no exception. The city ranks high in the Global Destination Sustainability Index, showing that both locals and tourists are keen on eco-friendly lifestyles. Bergen's ambition to become a 1.5-degree city by 2050 and achieve zero-emission construction sites by 2025 is a testament to its commitment to tackling climate change.
These efforts are not just about meeting targets; they reflect a growing awareness of climate change impacts, which in turn is driving demand for sustainable housing. Bergen's approach is making it a leader in eco-friendly urban development.
Sources: ArchDaily, Covenant of Mayors, Visit Bergen, The Source Magazine
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6) The University of Bergen brings in students and faculty, ensuring a stable rental market
The University of Bergen is a magnet for students and faculty, creating a lively rental market in the city.
With around 30,000 students from over 110 countries, Bergen has become a bustling international student hub. This diverse crowd means there's always a high demand for housing, as students flock to live near the university.
Every year, the student population at the University of Bergen grows, which means more people are on the hunt for housing. This steady influx keeps the rental market strong, and with the university planning expansions like Nygårdshøyden South, the demand is only set to rise.
Even when the economy wobbles, rental prices in Bergen keep climbing. In March 2023, rents for student housing jumped by 7.0% compared to the previous year, hitting an average of $829 per bedroom. This shows how the university's presence bolsters the rental market.
For anyone considering buying property in Bergen, it's worth noting that the university's influence is a key factor in the city's rental dynamics. The constant flow of students ensures a steady demand for rentals, making it a potentially lucrative investment.
Sources: Inland Investments, Eurep Auth, University of Bergen
7) Bergen’s strong community spirit makes family-friendly neighborhoods more desirable
Bergen's strong sense of community makes its family-friendly neighborhoods highly desirable.
In Bergen, families are drawn to areas with community centers and family-oriented amenities. Developments like Ă…sane Storsenter are designed to create vibrant urban spaces that focus on community, attracting families who want supportive and engaging neighborhoods.
Recent surveys show that homebuyers prefer family-friendly areas. Bergen's diverse population, including many foreign-born residents, looks for inclusive and community-oriented living spaces. This is evident in the rising property values in neighborhoods with strong community ties, like the Bergen Ecovillage, known for its emphasis on sustainability and community participation.
Neighborhoods with active associations often enjoy lower crime rates, making them even more appealing. High participation in local events and activities highlights the strong community involvement, which is a big draw for families. Successful local schools and family services further enhance the attractiveness of these areas by providing essential support.
Families in Bergen are not just looking for a house; they want a community. The city's neighborhoods offer a sense of belonging and security, which is why they are so sought after. The combination of active community engagement and supportive services makes these areas ideal for raising a family.
In Bergen, the community spirit is not just a bonus; it's a key factor in the decision-making process for potential homebuyers. The city's neighborhoods offer more than just a place to live; they offer a lifestyle that is rich in community and support.
Sources: Council of Europe, Thon, ACCTING, World Population Review
8) Bergen’s coastal climate draws tourists all year, enhancing your short-term rental opportunities
Bergen's coastal climate is a magnet for tourists all year round, making it a hot spot for short-term rentals.
With 340 cruise ships docking in 2023 and 570,000 passengers exploring its shores, Bergen remains a favorite stop for cruise enthusiasts. This steady influx of visitors keeps the city's tourism vibrant and bustling.
Short-term rentals in Bergen are in high demand, with properties typically booked for 277 nights annually. The median occupancy rate stands at 76%, showing that tourists flock to Bergen not just in summer but throughout the year.
Bergen's allure is in its rich history and unique vibe. The historic wharf, Bryggen, and the charming Nordnes neighborhood, with their wooden houses and narrow alleys, captivate visitors no matter the season.
This consistent tourist interest ensures a steady demand for short-term rentals, making Bergen an attractive option for property investors.
Sources: Airbtics, Bergen Havn
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Norway versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
9) Bergen’s location as a fjord gateway boosts demand for tourism-related properties
Bergen's strategic location as a gateway to the fjords has significantly increased tourism-related property demand.
In 2023, Bergen welcomed a surge of international tourists, with numbers rising by 13% to reach 5.65 million visitors. This influx has naturally led to higher occupancy rates in short-term rental properties, as more people are eager to find vacation homes and rentals in the area. The city's charm and proximity to the fjords make it a top choice for travelers seeking a unique experience.
The popularity of Bergen has also driven up property prices, especially in areas frequented by tourists. As more visitors flock to the city, the demand for vacation homes and rental properties continues to rise, pushing property prices higher. This trend is a direct result of Bergen's appeal as a gateway to the fjords, offering breathtaking views and outdoor adventures.
Moreover, Bergen has seen an increase in airline routes and transportation options, making it easier for tourists to visit. This improved accessibility further boosts tourism-related property demand, as more visitors can easily reach the city and explore its natural wonders. The convenience of travel has made Bergen an even more attractive destination for international tourists.
For those considering investing in property, Bergen's growing popularity and strategic location offer promising opportunities. The city's vibrant culture, stunning landscapes, and easy access to the fjords make it a desirable place for both tourists and property investors. As tourism continues to thrive, the demand for properties in Bergen is expected to remain strong.
With its unique position as a gateway to the fjords, Bergen is not just a tourist hotspot but also a lucrative market for property investment. The combination of natural beauty, cultural attractions, and improved accessibility makes it a prime location for those looking to invest in tourism-related properties.
Source: Road Genius
10) Bergen is perfect for active lifestyle buyers because it’s close to outdoor activities
Bergen is a haven for outdoor enthusiasts, thanks to its stunning natural surroundings.
Imagine living in a city where seven majestic mountains and breathtaking fjords are practically in your backyard. Bergen offers just that, making it a top choice for those who crave an active lifestyle. The demand for homes near popular hiking spots like Mount Fløyen and Mount Ulriken is high, as people are drawn to the idea of having nature at their doorstep.
Bergen isn't just about the scenery; it's also a hub for outdoor events. Festivals like the Bergen International Festival and Bergenfest are not only cultural highlights but also celebrations of the city's outdoor spirit. These events bring together locals and tourists, creating a vibrant atmosphere that showcases Bergen's love for the outdoors.
There's a noticeable trend in Bergen: the surge in sales of outdoor gear. Stores like Bergans are bustling, especially when tourists flock to the city. This trend underscores the growing popularity of outdoor activities, as more people invest in equipment to explore the natural beauty surrounding them.
Surveys reveal that in Bergen, homes with easy access to nature are highly sought after. Residents prioritize being close to natural areas, valuing the recreational and well-being benefits that come with it. This preference is a testament to the city's unique appeal for those who cherish an active lifestyle.
In Bergen, the connection to nature is more than just a selling point; it's a way of life. The city's geography and cultural offerings make it a magnet for those who want to blend urban living with outdoor adventures.
Sources: Visit Bergen, Visit Bergen Festivals, Bergans
11) With many international companies in Bergen, you’ll find a diverse and stable rental market
International companies in Bergen are key to its thriving rental market.
Bergen's tech and maritime sectors attract professionals from all over the globe, creating a diverse community that fuels demand for rental properties. This influx of expatriates means many are looking for homes near their workplaces, keeping the rental market bustling.
With a low vacancy rate, Bergen's rental market is in high demand. This is evident in the popularity of Airbnb listings, which are often fully booked by both tourists and international workers. The city's economic growth, driven by these international businesses, also boosts property values, making it a smart spot for investment.
For those considering buying property, Bergen offers a stable and diverse market thanks to its international business presence. The city's appeal is not just in its scenic beauty but also in its economic vitality, supported by a steady stream of global talent.
Investors can expect a consistent return on their properties, as the demand for rentals remains strong. The presence of international companies ensures a stable rental market, with a mix of long-term residents and short-term visitors.
In Bergen, the blend of international influence and local charm creates a unique environment for property buyers. The city's dynamic rental scene is a testament to its global connections and economic resilience.
Sources: Council of Europe, Airbtics, Tech Behemoths
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12) Bergen’s booming tech industry draws young professionals, increasing demand for modern apartments
Bergen's tech sector is booming, especially from 2023 to 2024.
With a surge in job opportunities, particularly in Energy & Environment, Social & Leisure, and Healthtech, Bergen is becoming a magnet for tech professionals. This growth is not just about numbers; it's about creating a vibrant community that attracts talent from all over.
The city boasts a lively startup scene, with 30 startups making up about 7% of Norway's total. Success stories like TicketCo highlight Bergen's innovative spirit. Spaces like The Grapevine are popping up, offering entrepreneurs and small businesses a place to collaborate and grow.
As the tech sector thrives, young professionals are flocking to Bergen. The University of Bergen is a key player, drawing international students and churning out STEM graduates. These young minds are not just looking for jobs; they're seeking a lifestyle that Bergen offers.
Urban living in Bergen is appealing, with its modern amenities and convenience. This is driving up the demand for contemporary apartments, as more young professionals choose to make Bergen their home.
Sources: StartupBlink, Jersey City Times, Nucamp
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.