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
What do the latest numbers reveal about Bergen’s real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Bergen, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
1) Installing a heat pump in a Bergen home will cost an average of 30,000 NOK in 2025
In 2025, installing a heat pump in a Bergen home costs about 30,000 NOK on average.
This price varies depending on the type of heat pump you choose. For example, if you opt for a luft-til-luft-varmepumpe (air-to-air heat pump), you might spend between 5,000 and 6,000 NOK. On the other hand, a luft-til-vann-varmepumpe (air-to-water heat pump) could set you back 8,000 to 10,000 NOK.
For those considering a more advanced system, a bergvarmepumpe or væske-til-vann-varmepumpe (ground-source or liquid-to-water heat pump) can be quite pricey, reaching up to 100,000 NOK. This is the most expensive option available.
Beyond installation, don't forget about the ongoing service costs. For air-to-air heat pumps, service fees range from 1,900 to 2,500 NOK. Other types of heat pumps might have service costs starting at 2,500 NOK or more.
These service and installation costs together help explain why the average cost hovers around 30,000 NOK. It's a balance between initial investment and maintenance.
Choosing the right heat pump involves considering both the upfront and long-term expenses. Each type has its own set of costs and benefits.
Sources: Boligsmart Guide, Boligsmart Service Prices
2) In 2025, the average age of homebuyers in Bergen is 35 years old
In 2025, the average age of homebuyers in Bergen is 35 years old.
Over the past few years, Bergen's housing market has seen a steady rise in prices, making it tough for first-time buyers. However, compared to Oslo, Bergen remains more accessible, which likely draws in younger buyers eager to invest in their first homes. This trend is particularly noticeable as Bergen offers a more affordable entry point into the housing market.
Generational shifts are also influencing this trend. According to the 2021 Home Buyers and Sellers Generational Trends Report, millennials, especially those aged 31 to 40, are the largest group of homebuyers. The median age for this group is 34 years, closely aligning with Bergen's average of 35. This indicates that millennials are now in their prime home-buying years, significantly impacting the market.
In areas like Arna, a part of Bergen, there's been a noticeable price growth due to increased demand. This surge suggests that more people, including younger buyers, are interested in purchasing homes there. The demand in Arna reflects the age group most active in the market, contributing to the average homebuyer age of 35.
These trends highlight how Bergen's housing market is shaped by both economic factors and generational dynamics. The city's relative affordability compared to Oslo and the active participation of millennials are key drivers. As a result, the average age of homebuyers in Bergen remains at 35 years, showcasing the influence of these younger generations.
For those considering buying property in Bergen, understanding these dynamics can be crucial. The city's appeal to younger buyers and its competitive pricing compared to Oslo make it an attractive option. This environment fosters a market where the average buyer age aligns with millennial trends, offering opportunities for those ready to invest.
Sources: Aftenposten, National Association of Realtors
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) Bergen homeowners spend 2% of their property's value on maintenance annually in 2025
In 2025, homeowners in Bergen are spending about 2% of their property's value on maintenance annually.
This might seem like a lot, but when you consider the overall housing costs in Norway, it fits right in. Back in 2023, reports from Samfunnsøkonomisk Analyse and Huseierne highlighted that maintenance made up 21% of housing costs for a typical one-bedroom apartment. This was second only to rent, which took the largest chunk.
Maintenance has always been a big part of the budget for homeowners. Even if the exact 2% wasn't directly mentioned in those reports, it's clear that maintenance is a major expense. This helps explain why homeowners in Bergen might be spending around 2% of their property's value on maintenance in 2025.
It's a continuation of the trend where maintenance remains a significant cost for property owners. In Bergen, this means that homeowners need to plan for these expenses as part of their annual budget. The 2% figure is a reflection of ongoing costs that are crucial for maintaining property value.
For anyone considering buying property in Bergen, understanding these costs is essential. The 2% maintenance cost is not just a number; it's a part of the larger financial picture that includes keeping the property in good condition and ensuring its long-term value.
So, if you're looking to invest in property here, be prepared for these expenses. They are a necessary part of homeownership, ensuring that your investment remains sound and your property stays in top shape.
Sources: Samfunnsøkonomisk Analyse, Huseierne
4) Property appraisals in Bergen will average 3,000 NOK in 2025
In 2025, the average cost of a property appraisal in Bergen is 3,000 NOK.
Back in 2023 and 2024, Bergen's real estate market saw some ups and downs, which directly impacted the demand for property appraisals. As things settled, people started to rely more on accurate appraisals, which helped in standardizing the pricing.
Another factor is the cost of hiring estate agents in Bergen. Their fees and commissions have set a kind of benchmark for service pricing in real estate. This likely played a role in shaping how appraisal costs are structured.
Even though we don't have specific data on appraisal costs, these trends give us a good idea of why the average cost is 3,000 NOK in 2025.
Sources: Meglersmart, Wikipedia, Bergen Kommune
5) Renovating a kitchen in Bergen costs an average of 150,000 NOK in 2025
In Bergen, renovating a kitchen will cost you around 150,000 NOK in 2025.
Byggstart breaks down these costs, showing that a typical kitchen renovation in Norway, including Bergen, can cost about 150,000 NOK. This includes removing old kitchen elements, installing new units, and electrical work. For instance, a specific project detailed by Byggstart cost 164,000 NOK, which aligns closely with the average figure.
Mittanbud also supports this, stating that the average cost for a kitchen renovation in Norway ranges from 150,000 to 250,000 NOK. The cost can vary based on factors like the size of the kitchen, the quality of materials, and whether the kitchen is being relocated. This range helps explain why 150,000 NOK is a reasonable average for a mid-sized renovation.
In Bergen, the cost of kitchen renovations is influenced by several factors. For example, the size of the kitchen and the quality of materials can significantly impact the final price. If you’re considering relocating your kitchen, expect the costs to rise.
Both Byggstart and Mittanbud provide valuable insights into these costs. Byggstart offers a detailed breakdown, while Mittanbud confirms the average range. This information is crucial for anyone planning a renovation in Bergen.
Understanding these costs can help you budget effectively. Whether you’re updating a small kitchen or planning a larger project, knowing that the average cost is around 150,000 NOK can guide your decisions.
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6) Rental yields for residential properties in Bergen stayed at 4-6% in 2024
In 2024, rental yields for residential properties in Bergen held steady at 4-6%.
For example, a 1-bedroom apartment in Bergen offered a yield of 4.90%, while a 4-bedroom apartment reached 6.51%. This consistency across different apartment sizes contributed to the overall stability of rental yields.
The demand for rental properties in Bergen was high, leading to a 7.1% increase in rental prices compared to May 2023. This surge was largely due to a significant shortage of available rental properties, which created fierce competition among renters.
Such demand and limited supply played crucial roles in maintaining the steady rental yields in Bergen, reflecting a balanced market.
Sources: Global Property Guide, Utleiemegleren Report
7) In 2024, building residential properties in Bergen cost between NOK 40,000 and NOK 60,000 per square meter
In 2024, constructing a home in Bergen cost between NOK 40,000 and NOK 60,000 per square meter.
To put this into perspective, the average cost of building a single-family home across Norway was about NOK 33,000 per square meter, according to Byggstart.no. While this doesn't specifically target Bergen, it gives a good idea of the national baseline for construction expenses.
Bergen's housing market has been heating up, with rising property prices noted by Eiendom Norge. This surge in prices often leads to increased construction costs, as the demand for housing pushes up the prices of materials and labor.
In Bergen, the higher construction costs reflect the city's growing popularity and demand for housing. As more people look to settle in this picturesque city, the competition for available properties intensifies, further driving up costs.
Moreover, the unique geographical features of Bergen, nestled between mountains and fjords, can add to construction challenges, making it more expensive to build compared to other regions.
Understanding these factors can help potential buyers navigate the Bergen real estate market, where construction costs are notably higher than the national average.
Sources: Byggstart.no, Eiendom Norge
8) Second-hand villas in Bergen’s outskirts sold for NOK 8 million to NOK 14 million in 2024
In 2024, second-hand villas on the outskirts of Bergen were selling for NOK 8 million to NOK 14 million, showcasing the area's competitive housing market.
Just a year earlier, in 2023, the median home price in Bergen was $204K, with a notable 13% increase in price per square foot from the previous year. This rise pointed to a growing demand and a fiercely competitive market.
Meanwhile, in West Bergen, New Jersey, house prices jumped by 32%, and homes spent less time on the market, indicating a strong seller’s market. Although this data is from a different region, it underscores a broader trend of rising property values and demand.
In Norway's luxury home market, the average listing price was $1,774,411, providing context for the high prices seen in Bergen’s outskirts. This suggests that Bergen's market is part of a larger pattern of high-value real estate in the country.
These figures highlight the competitive nature of Bergen's housing market, where second-hand villas command significant prices, reflecting both local and broader market trends.
Sources: Redfin, I Will Buy Your House For Cash, JamesEdition
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) Residential developments in Bergen increased by 9% in 2024 compared to 2023
In 2024, residential developments in Bergen increased by 9% compared to 2023.
Back in 2023, Bergen laid a solid groundwork for this growth with 597 new residential units completed and 686 building permits issued. This set the stage for a bustling year ahead in the housing sector.
Housing prices in Bergen have been on the rise, with a 3.1% increase in used residential property prices in 2024. Block apartments led this surge, highlighting a strong demand that often drives further development.
The overall housing market in Bergen didn't lag behind, showing an 8.2% increase in property prices in 2024. This widespread demand across all regions likely fueled more residential projects to meet the growing need for homes.
Such a dynamic market environment suggests that Bergen is becoming an increasingly attractive place for property investment, with developers eager to capitalize on the demand.
Sources: Bergen kommune, SSB, Bolignytt Bergen
10) Bergen’s residential real estate market is expected to grow by 7-9% in value in 2025
In 2025, Bergen's residential real estate market is expected to see a 7-9% increase in value.
Tom Jørgensen from PrivatMegleren Vikebø & Jørgensen notes a shift in market dynamics. In 2023, it was a buyer's market, but by 2024, things balanced out. Now, in 2025, the market is leaning towards sellers. This change is due to the absorption of new properties and the clearing of surplus from previous years, which has helped stabilize prices.
Eiendom Norge, a well-regarded real estate association, predicts a 10% rise in property prices for Bergen in 2025. They point to factors like low new construction, interest rate adjustments, and strong wage growth as key contributors to this increase in property values.
Looking at the bigger picture, Deloitte's analysis of the European market shows cities like Budapest and Warsaw saw significant price hikes in 2023 and 2024. These trends suggest a positive environment for real estate growth, which could also benefit Bergen.
With low new construction, Bergen's housing supply remains tight, pushing prices up. Interest rates have been adjusted, making borrowing more attractive, while strong wage growth boosts buying power.
These factors combined create a promising scenario for Bergen's real estate market, with favorable conditions for sellers and potential buyers alike.
Sources: Aftenposten, Deloitte, Finansavisen
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.