Sweden

 

Stockholm

 

friseataglance

research-alliance-Budapest

Sweden : Stockholm office market

March 2017
  • Yields and rental values reach record levels
  • Buoyant activity for the occupier market
  • Low investment activity
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LOM Q3 2014


Buoyant activity for the occupier market

Office occupier market was very lively in 2016, resulting in a 130 bp drop of the vacancy rate that stood at 7% at the end of 2016 as few new deliveries took place in 2016. The prime rent reached a record level of SEK 5,500/m²/year (€569/m²/year) in Stockholm CBD.

Low investment activity

Stockholm’s office investment market fell by 43% in 2016 to reach SEK 18 bn (€1.9 bn), despite a buoyant last quarter when most of the transactions of the year occurred. These transactions mainly took place in the outskirts of the city. Only a few deals were signed in Stockholm CBD over the last years as the CBD submarket is mainly held by long-term institutional investors. Therefore only a few CBD properties are for sale every year. However one major deal was signed in Stockholm CBD in November 2016; it concerns the sale of Snäckan 8 scheme by Skanska to Slussgården for more than SEK 2 bn (€205 m). The second-largest transaction was Profi’s acquisition of the properties Tumba 1:150 in Tumba and Borgafjord 2 in Kista for more than SEK 1 bn (€102 m.). The prime yield reached a record level of 3.50% at the end of 2016, which represents a 40 bp drop compared to 2015.

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Robion Vincent

Vincent Robion
Head of Research for Alliances
 

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