Rent prices are rising – sharp rise registered in Bergen

Photo: Jarl Fr. Erichsen / NTB

Rent prices rose by 1.6% in the four largest cities in Norway in the first quarter of the year. Bergen saw a particularly sharp rise in prices.

“Eiendom Norge’s rent statistics show that there was an increase in rental housing prices in Norway as a whole in the first quarter of 2022. In Bergen, there was a strong increase of 15.1% in the first quarter of the year,” CEO of Eiendom Norge Henning Lauridsen stated.

The rental markets in Trondheim and Oslo reported a price increase of 5.8% and 0.1%, respectively. In Stavanger and Sandnes, on the other hand, there was a fall in prices of 1.9%.

Over the past year, rent price developments have been strongest in Bergen and Stavanger, with an increase of 13.4% and 7.8%, respectively. Trondheim and Oslo had an increase of 2.5% and 2.3%, respectively.

Prices in Bergen

“Bergen’s sharp rise in the first quarter is partly due to the fact that many high-quality homes have been rented out compared with the last quarter. We expect that the price increase will level off over the year,” Lauridsen said.

There are 2,491 homes for rent on in the four major cities at the end of the first quarter of 2022. Of these, 1,314 are in Oslo, 488 in Bergen, 420 in Trondheim, and 269 in Stavanger and Sandnes.

“In the second-hand housing market, there has been a decline in the supply side during the first quarter. We also see this in the rental market. We have never before registered such a low supply of rental housing on at the end of the first quarter,” he said.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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