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Nordic Update

2018: A good year on the Nordic market

Publicerad: 20 december 2018, 20:50

Mikael Söderlundh. Foto: Pangea.

An active market, larger deals on average and a continued inflow of international capital. That is how Pangea Property Partners summarise the year 2018 on the Nordic property market.

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Pangea Property Partners

For the fourth consecutive year, the total volume in the Nordic market surpassed 40 billion EUR according to Pangea. Pangea’s data indicates that the total volume in 2018 will amount to roughly 42 billion EUR, in line with last year’s.

“2018 nearly reached the record level from 2016, illustrating that the Nordic property market is very active. This year we saw fewer, but larger, deals than last year, which also means that there are more complex deals involving portfolios and companies,” said Mikael Söderlundh, Head of Research and Partner at Pangea Property Partners, in a comment.

Source: Pangea

Pangea estimates that the total volume in 2018 in the Swedish market will amount to 155 billion SEK, 15.1 billion EUR, an increase from last year’s level of 151 billion SEK but a drop in terms of euros, due to the weak SEK.

In both Norway and Denmark, volumes have increased by 13 per cent while they have fallen by 21 per cent in Finland.

Foreign investors remain keen on the region and in 2018; they accounted for 40 per cent of all property transactions. Office was the most traded asset class, 31 per cent of the total volumes, with residentials and retail accounting for 27 and 16 per cent respectively.

The five largest deals in the Nordics in 2018 were as follows:

1. Vonovia’s acquisition of Victoria Park, 17.1 billion SEK
2. Kildare Partners’ acquisition of Technopolis, 1.6 billion EUR
3. Danica’s acquisition of SEB Pension in Denmark, 6.3 billion DKK
4. Heimstaden Bostad’s acquisition of a number of residential portfolios for 8.4 billion SEK
5. Cibus’ acquisition of 123 grocery stores in Finland, 0.8 billion EUR

Sverrir Thór

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