Feb 3, 2021
Malling & Co Eiendomsfond has purchased Karl Johans gate 12j in central Oslo from Victoria Eiendom. This 4 000 m2 property is leased to Varner, Warner Music Norway, the Military Officers Union and Inventura.
Feb 3, 2021
Aberdeen Standard Norway Balanced Fund has acquired Akersgata 16 in central Oslo from Promenaden High Street. Covering 4 829 m2, the property is leased to such tenants as HCA Melbye, Kaffebrenneriet and Vitra.
Feb 3, 2021
PKH Eiendomsinvest has purchased Håndverksveien 13-17 in the Berghagan Logistics Park at Langhus from a Realkapital Investor club deal. The 11 300 m2 logistics building is fully leased to such tenants as Hurtigruta Carglass, Børresen Cooltech and Outland.
Feb 3, 2021
A Vika Project Finance club deal has acquired Vestre Svanholmen 1 at Forus in Stavanger from Seabrokers Eiendom for about NOK 550 million. This 31 000 m2 property is leased to such tenants as Vår Energi, with a remaining lease term of 13 years.
Feb 3, 2021
Vestenfjeldske Eiendom has purchased the Eldorado Building (Olav Kyrres gate 28) and The White House (Foreningsgaten 1) in central Bergen from Inventa Finans and several private investors. With a combined area of 5 780 m2, these properties are leased to such tenants as Vewi, Dinner Asia and Rezepten. The transaction also covers 52 flatlets. Combined annual rental income comes to NOK 11.3 million.
Feb 3, 2021
KLP Eiendom has acquired the Dybdahl Building (Dybdahls veg 3-5) in Trondheim from Trym Næring AS for NOK 265 million. This 8 300 m2 office building is leased to such tenants as NTNU Technology Transfer, Toma AS and Trym AS. With construction due to be completed in mid-2021, it has now been 70 per cent leased.
Feb 3, 2021
According to the Labour and Welfare Administration (NAV), 123 696 people were registered as wholly unemployed at 29 January. That represented 4.4 per cent of the workforce, and was up by 16 755 people from 31 December. Unemployment is now down by 6.3 percentage points from the April peak, but up by 2.1 percentage points from last February.
Feb 3, 2021
Norges Bank decided to keep its base rate unchanged at zero per cent at the interest-rate meeting on Thursday 21 January. The central bank also communicated that this rate will remain unchanged until clearer signs are seen that the economy is normalising.
Feb 3, 2021
Arealstatistikk: The average rent in Oslo for signed leases in the fourth quarter of 2020 was NOK 2 470 per m2. This represents an increase of 11.8 per cent from July-September and follows two quarters with a decline totalling 8.7 per cent in rents. The four-quarterly rolling average is up by 1.5 per cent from a year earlier.
Feb 3, 2021
Statistics Norway: The consumer price index (CPI) rose by 1.4 per cent from December 2019 to December 2020. Over the same period, the consumer price index adjusted for tax changes and excluding energy products (CPI-ATE) was up by three per cent. From November to December, the CPI rose by 0.4 per cent and the CPI-ATE fell by 0.1 per cent.
Jan 6, 2021
NREP Logicenters has acquired Villbergveien 130 at Gardermoen from Møller Eiendom and Stokke Industri for about NOK 3 billion. This 84 800 m2 logistics building is leased to the Coop for 20 years.Jan 6, 2021
An Arctic Securities club deal has purchased the Telegraph Building (Kongens gate 21) in the Kvadraturen area of downtown Oslo from Tristan Capital Partners, Malling Eiendom and Vedal for NOK 2.25 billion. The 25 000 m2 office building is leased to such tenants as Norconsult, Bane NOR and Nordic.Jan 6, 2021
Lerka Eiendom, Wahl Eiendom and Linstow are joining forces to develop and refurbish several properties at Furuset in Oslo. Holding Søren Bulls vei 2 and 29, Trygve Lies plass 1 (including the Furuset Centre) and several parcels of land, the new owners intend to more than double today’s area of 58 000 m2. The collaboration has been formalised by a transaction which gives each participant one-third each. The asset value of the whole development project will be around NOK 2 billion.Jan 6, 2021
SKB Eiendom has acquired the NVE building (Middelthuns gate 29) at Majorstuen in Oslo from an NRP club deal for NOK 1.39 billion. This 21 600 m2 office building is fully leased to the Norwegian Water Resources and Energy Directorate and the Norwegian System of Patient Injury Compensation. DNB Markets acted as adviser for the buyer.Jan 6, 2021
An Arctic Securities club deal has acquired Grensesvingen 2-20 at Helsfyr in Oslo from Nordea Liv for NOK 1.2 billion. The 27 700 m2 office building is leased to Oslo’s Education Agency and Agency for Improvement and Development.
Updated analyses of main towns in Norway
The downturn in the Norwegian and international economies as a result of Covid-19 is having a marked effect on all Norway’s large towns. Fortunately, construction levels are lower across the board than they were during the previous downturn.Updated segment analyses
Activity 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 2020
The 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 2019
UNION's head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of October 2019.Back to the grindstone
UNION launches autumn's market report on the Norwegian commercial property market.Market Report Spring 2019
UNION's Head of research Robert Nystad gives a brief overview of the Norwegian commercial property market as of April 2019.Preparing for a soft landing
Robert Nystad, Head of research UNION GruppenMarket Report Autumn 2018
UNION'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, stupid
Gyms, 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 2018
UNION's head of research Jo W Gullhaugen gives a brief overview of the Norwegian commercial property market as of March 2018.Market Report Autumn 2017
UNION'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 2016
Towards 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 2015
The 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 minutes
What 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 property
There 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 Premises
When 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 Market
UNION 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 Norway
Despite 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?
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