The Nordics are racing ahead: this year transaction volumes in the four countries have reached all-time highs.
This is particularly significant when compared to what is happening elsewhere in Europe: in the first six months of the year investments have fallen by 40% in the UK, by 30% in Germany and by 20% in France. By contrast, Sweden, Denmark, Norway and Finland have recorded their highest-ever volumes, delegates heard at the PropertyEU Nordics Investment Briefing at Expo Real on Wednesday.
'The safe haven effect of the Nordics has never been so strong,' said Rikke Lykke, managing director of Patrizia Nordics. 'All countries and all sectors are interesting, because the urbanization trend is bringing more people into the main cities where they need offices to work, accommodation to live but also places to shop. It is all inter-related.'
Many foreign investors focus on Sweden, not only because it is by far the largest market in the region, but also because Stockholm is the fastest-growing capital in Europe. ‘The market is extremely liquid and we have never had a vacancy in Sweden,’ said Thomas Karmann, regional director, Northern Europe at Prologis. 'With high renewal rates and steady rental growth, it is a very good place to be.'
