Newsec-landingsmeny
MARKEt report Q2 2019

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Market forecast Q2 2019

Office

  • Prime yield 3.75%
  • Largest transaction: DNB Midtbygget NOK 4.5bn
  • Vacancy in Oslo is 5.8%
  • Rolling rental prices in Oslo are up 6.5%
  • Rolling A-category rent are up 8.8%
  • Trend: Continued rise in rent levels and absence of downward pressure on interest rates - prime yield stable for 2019

Retail

  • Prime yield 4.00% (High Street)
  • Largest transaction: Stoa Vest (NOK 1.5m)
  • E-commerce turnover reaches more than NOK 21bn, 4.5% of total retail turnover. Strong growth over the past four years (13% vs 2.6% for regular retail trade)
  • Top rent levels: 18,000 NOK/sqm
  • Trend: Investors are sceptical toward the sector, surplus of supply in the market. This places considerable pressure on normal and secondary locations and their yields and rent levels.

Hotel

  • Prime yield 4.25%
  • Oslo / RevPAR 755 / +0.7% (12 months)
  • Bergen / RevPAR 588 / -0.2% (12 months)
  • Tromsø / RevPAR 705 / +9.7% (12 months)
  • Trondheim / RevPAR 605 / -0.3% (12 months)
  • Stavanger / RevPAR 509 / +6.6% (12 months)
  • Trend: RevPAR under pressure in Oslo/Tromsø, Stavanger sees a ray of light in oil, Bergen is drying up

Logistics

  • Prime yield 5.00%
  • Largest transaction: Raufoss Industrial Park NOK 1.8bn
  • Location is important; longer contracts in secondary areas are not priced as sharply
  • Trend: Segment lifted by increased e-commerce and a lack of strategically good land plots around Oslo

Key numbers Q2 2019

42bn

Volume

127

Transactions

3,75%

Prime yield

4,900

Prime rent

5,8%

Vacancy