Sweden is on track for a bumper 2019 after seeing €14 bn (SEK 152 bn) of real estate change hands already this year, according to adviser Savills.
Investment volumes jumped by 37% in the first nine months of this year compared with the same period in 2018, Niklas Zuckerman, Savills’ head of investment for Sweden, told PropertyEU at the Expo Real trade fair in Munich.
Among the reasons for the high volume is that a number of large logistics portfolios were sold during the period, pushing the percentage of logistics investment transactions up to 17% (€2.3 bn) of the total.
Another is that Swedish companies are taking advantage of the strong interest from international buyers to sell now. Foreign investors were accountable for almost 40% of the volume in Q1-Q3 2019.
Zuckerman said that because there are buyers for all types of assets, from core to value add, ‘companies that don’t have big project management teams to do value-add, such as SEB, Afa and Skandia, are among those selling’.