Nov 8, 2020Norwegian Property has acquired Snarøyveien 30 at Fornebu from Telenor Real Estate for NOK 5.45 billion. This 198 500 m2 office property is leased to such tenants as Telenor, ABB and Tieto Every. Telenor has signed a 25-year sale and leaseback agreement.
Nov 8, 2020A club deal arranged by Malling & Co Property Partners has purchased Mariboes gate 6-8 in central Oslo from an owner group which includes Blackstone. Covering 6 750 m2, the office property is leased to such tenants as the Rainforest Foundation Norway and Friends of the Earth Norway.
Nov 8, 2020Zuhaar & Rubb has acquired the Telenor building (Ytrebygdsvegen 215) at Kokstad in Bergen from Midgard Gruppen for about NOK 750 million. This 31 800 m2 office building is leased to such tenants as Telenor Norge, Bacher Hughes Norge and Necon.
Nov 8, 2020West Coast Invest has purchased Torgallmenningen 3A in Bergen from Hui Gruppen. The 3 500 m2 property is leased to such tenants as Sands Advokatfirma, China Palace, 7-eleven and Gina Tricot.
Nov 8, 2020Schage Eiendom has awarded new leases covering a total of 20 000 m2 to EY and IWG Spaces at Stortorvet 7 in central Oslo. EY will be moving into the four topmost stories when refurbishment is completed in 2023, and has secured access to the meeting rooms and coworking facilities which Spaces will operate. At the same time, EY employees will have access to many other Spaces locations in Oslo and the rest of the world.
Nov 8, 2020Entra has awarded a 10-year lease for 12 250 m2 to Advokatfirmaet Schjødt at Tordenskiolds gate 12 in Oslo’s central business district. The law firm will be moving into the 13 000 m2 building when refurbishment is completed in the third quarter of 2022.
Nov 8, 2020Statistics Norway: The consumer price index (CPI) rose by 1.6 per cent from September 2019 to September 2020. Over the same period, the consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) was up by 3.3 per cent. From August to September, the CPI rose by 0.4 per cent and the CPI-ATE by 0.2 per cent.
Nov 8, 2020According to Arealstatistikk, the average rent in Oslo in the third quarter of 2020 was NOK 2 210 per m2. This represents a decline of 4.7 per cent from April-June and is the second quarter when data from Arealstatistikk indicate that rents are on their way down. The two-quarterly rolling average is down by 6.2 per cent from the first quarter.
Nov 8, 2020According to the Labour and Welfare Administration (NAV), 99 400 people were registered as wholly unemployed at 30 October. That represented 3.5 per cent of the workforce. Unemployment is now down by 7.4 percentage points from the April peak, but up by 1.2 percentage points from February. It is 6.6 per cent if job seekers on work creation schemes and the partially unemployed are included.
Nov 8, 2020According to Opinion, the consumer confidence index (CCI) was at minus 3.7 points in October, down from minus 2.4 points the month before. It is now 9.6 points above the low point in April.
Oct 1, 2020Profier Gruppen has acquired Neptune Properties from Boligbyggelaget Usbl, Røsnes Eiendom, Strand Eiendom and Surfside Holding. In addition to homes already under development, Neptune has a land bank with the potential for 2 000 residential units in the Oslo region. Overall, Profier will have opportunities to build 5 000 homes in Norway after the transaction.
Oct 1, 2020Fastighets AB Balder has purchased 50 per cent of the shares in Anthon B Nilsen Eiendom. This transaction embraces the group’s property portfolio in Oslo and Lahaugmoen, as well as a 17-hectare development portfolio in eastern Norway. The overall value of the properties is almost NOK 3 billion.
Oct 1, 2020Canica Eiendom has bought Tjuvholmen Allé 1-5 in Oslo from Eiendomsspar. The 15 500 m2 office building is leased to Advokatfirmaet Selmer, Wework, Pangea Property Partners and Bearingpoint. Remaining lease terms are about six years. Vika Project Finance served as adviser for the purchase.
Oct 1, 2020A club deal arranged by Clarksons Platou Real Estate has acquired Karvesvingen 5 at Hasle in Oslo from AF Gruppen and Höegh Eiendom. The 18 000 m2 office building is leased to such tenants as Atea, Talkmore, Com4 and Schindler.
Oct 1, 2020Lerka Eiendom and Union Real Estate Fund II, together with several private investors, have purchased five properties at Tunga in Trondheim for NOK 950 million from club deals arranged by Fearnleys Securities and Clarksons Platou Real Estate as well as a local player. Totalling 43 500 m2, the portfolio is leased to such tenants as Nardo Bil, Melhus Bil Trondheim and Bravida.
Updated segment analysesActivity in the market is very high, with strong pressure on yields in many cases. But how do the various segments differ?
The Norwegian commercial property market autumn 2020The transaction market is buzzing, while the macro position is depressing the rental market. Read more about how UNION expect rents and yields to develop at our new research portal.
UNION Market Report Autumn 2019UNION's head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of October 2019.
Back to the grindstoneUNION launches autumn's market report on the Norwegian commercial property market.
Market Report Spring 2019UNION's Head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of April 2019.
Preparing for a soft landingRobert Nystad, Head of research UNION Gruppen
Market Report Autumn 2018UNION's Head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of October 2018.
It’s the supply side, stupidGyms, restaurants and retailers managed it. Providers of flexible office space – or coworking – are also pretty certain to succeed in building more than enough capacity.
Market Report Spring 2018UNION's head of research Jo W Gullhaugen gives a brief overview of the Norwegian commercial property market as of March 2018.
Market Report Autumn 2017UNION's Head of Research Jo W. Gullhaugen gives a brief overview of the Norwegian commercial real estate market as of October 2017.
Market Report Fall 2016Towards full capacity in the Oslo rental market?
Prime yield of 3.9 percent – how is secondary property affected?
UNION's Head of Research Jo W. Gullhaugen gives a brief overview of the Norwegian commercial real estate market as of October 2016.
Strong return for Norwegian real estate in 2015The IPD Norway Property Index returned 11 percent in 2015, of which income return contributed 5.3 percent. The index measures unlevered total returns to directly held properties.
Market Report in 5 minutesWhat are the vacancy rates, rent levels and prime yield in the Norwegian commercial real estate market? Read about new construction, valuation estimates and market trends across four major commercial real estate sectors and Norway's four largest ci ties. UNION's Head of Research Jo W. Gullhaugen gives a brief overview of the Norwegian commercial real estate market as of March 2016.
Pension Funds’ investment in commercial propertyThere is growing interest in Norwegian commercial property among Norwegian and international pension companies. The transaction market has never been stronger. How will current and future frameworks affect pension funds’ investment in property?
Office Market in Balance?Since 2002, housing prices in Oslo have increased by 133 percent, while the value of office buildings has risen by 50 percent. The office rental market appears to be accommodating Oslo’s new residents much more effectively than the housing market.
Psychological Drivers Behind the Choice of Office PremisesWhen renting office space, the most important factors influencing the choice of premises are often price and functionality. However, there are also some psychological factors behind the assessment of office premises.
Can Bjørvika Challenge the CBD in Oslo?Bjørvika is growing slowly but surely into a new major office hub in the area around Oslo Central Station. Many attractive tenants have moved in beside established and future cultural institutions such as the Oslo Opera House, Munch Museum and Oslo Public Library. Is Bjørvika in the process of becoming a genuine challenger to the CBD as Norway’s most attractive office area?
Snapshot of Oslo’s Commercial Real Estate MarketUNION is one of Norway's most trusted sources for property and market intelligence. Watch our 3 minutes long video presentation of Oslo’s Commercial Real Estate Market.
5 Reasons to Look to NorwayDespite the falling oil prices and decrease in office rents, the commercial real estate transaction market has been booming this year. Foreign investment into Norwegian real estate has been increasing rapidly in 2015, counting 50 percent of the total market volume. What key features attract foreign investors?