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Market Research - Sweden

Sweden : Stockholm office market - March 2018

- A strong December contributes to a robust transaction year in 2017
- Yields and rental values reach record levels
- The investment market* remains buoyant in Sweden

Yields and rental values reach record levels

The upward trend of market rents in the Stockholm area is continuing. In Stockholm CBD, market rents have increased to SEK 6,100/m²/year (€622/m²/year). Newsec estimates that the top rents in the CBD lie around SEK 7,100/m²/year (€725/m²/year), and several property owners are reporting rents above these levels. The high rent levels are a consequence of the high demand together with the low supply of newly built modern premises in Stockholm CBD. The market rent is expected to go on rising through 2019 with yields kept suppressed.

The investment market* remains buoyant in Sweden

A strong month of December in the transaction market helped the final Swedish volume for 2017 to reach SEK 147.5bn (€15 bn) (for transactions over SEK 40 million). The total transaction volume for the year is lower than the previous year’s record volume of SEK 201 billion (€20.5bn), but at the same level as in 2015. Geographically the Stockholm market dominates with 37% of the transaction volume. Only a few office deals were signed in Stockholm CBD over the last years as this submarket is mainly held by long-term institutional investors. Therefore only a few CBD properties are for sale every year. In December the largest office transaction in Stockholm took place when Humlegården acquired Stockholm Dykaren 10 and Stockholm Härden 16 from Länsförsäkringar for SEK 2bn (€204m).

* including residential Constant Exchange Rate (Q4 2017 average) €/SEK : 0.1021

sweden EOM 2018
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