Reduced newbuilding has so far been favourable for the development of vacancy in Bergen. While construction volumes are now set to rise in 2022-23, they remain low in historical terms.

No Norwegian county containing a major town has suffered a larger drop in employment than Vestland, but Bergen’s office rental market will probably be rescued by a favourable supply position.

We registered 38 transactions in Bergen during 2019, one more than in 2018. At NOK 9.8 billion, the combined turnover volume was down by NOK 1.2 billion from the year before, but NOK 4.8 billion higher than the annual average for 2010-18.