The entire Nordic transaction market has reached record levels during 2014. 2014’s total transaction volume measured up to SEK 159 billion (€16,6 billion) of which SEK 57 billion (€5,97 billion) or 36 percent was traded in Stockholm alone. In Stockholm’s most central parts, CBD, (Central Business District) the vacancies during the past six months were increased from record low 3,6 percent to 4,2 percent with a rent level of SEK 4 500 (€471) per sq. m.
In the remaining inner city the vacancies increased in the same period of time from 4,7 percent to 5,4 percent. At the same time the available office spaces decreased on submarkets outside of the city. Solna/Sundbyberg had a vacancy of 8,3 percent, which is the lowest since the beginning of the 21st Century. The rent levels in Solna/Sundbyberg were 2 200 (€230) per sq. m.
“The increase in available office spaces in the city and decrease on submarkets outside of the city centre point towards tenants reviewing their expenses. By relocating outside of the most central locations the tenants have been able to cut their facility costs in half. The low vacancies in the most central parts can also be a restriction for those looking for larger connected areas", says Daniel Gorosch, CEO at JLL Sweden.
JLL: Stable Development on Stockholm’s Office Market
Sweden — Stockholm’s office market is continuously characterised by a low supply and high rent levels. At the same time minor movements towards increased vacancies are visible in the most central locations and a decrease in available office spaces outside the city. This is shown by the annual Nordic City Report conducted by JLL.