Nordic property transactions set record of €43 billion in 2016
Volumes in the Nordic commercial real estate markets set yet another record in 2016, led by an extremely vibrant Swedish market and strong activity in the residential segment. This contrasts with a weak general trend in Europe following the Brexit vote.
Transaction volumes in the Nordic property market will exceed €43 billion in 2016, according to new figures from Pangea Property Partners. This is an increase of 8 percent from 2015 and the highest level ever recorded for the Nordic market.
“The Nordic property market is now growing towards 20 percent of the total European market. With more than 6 percent of the entire stock turned over, it is probably the most liquid region in Europe,” said Bård Bjølgerud, CEO and Partner at Pangea Property Partners.
Growth is mainly driven by the Swedish market, which is expected to reach a transaction volume of €22.2 billion in 2016. This is an increase of 42 percent from last year and the first time the Swedish market surpasses the previous record volume from 2007. The Finnish and Danish markets also record solid growth, with Finland setting a new record. Norwegian volumes are markedly down from a very strong 2015, but it is still the second largest market in the Nordics.