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Today's Solid Real Estate Market Faces an Uncertain Future

Press Releases   •   Sep 21, 2017 07:00 CEST

Over the last few years, the Swedish real estate market has been red-hot. Property prices have soared, transaction volumes have reached record-highs and the industry’s shares have developed well on the stock exchange. At the same time, many now see increased risks and uncertainties. The latest issue of Newsec Property Outlook focuses on potential concerns on the Nordic and Baltic real estate market and what might trigger a crisis. In the preface you can also read a macro economic analysis of the Swedish and global development, written by economist Klas Eklund.

Although Sweden's economy is on the rise, there are a number of aspects that could threaten the positive development. An uncertain fiscal position, threat of tightened bank policies, geopolitical turbulence and the risk of overproduction of the "wrong" kind of property, are all phenomena that could cause the Swedish real estate market to de-stabilise.

Since 2014, the Swedish transaction market has surpassed itself year by year and the first half of 2017 seems to follow a similar path and reach high levels, even though not in line with the record year 2016. Newsec does not yet see any weakening of the Swedish real estate market. Rather, the slightly lower half-year volume can be explained by a mismatch of supply and demand of attractive property.

"Our overall assessment is that the 2017 real estate year will be very strong, although with a slightly smaller volume than the record year 2016. Potential threats to the positive development could come from external factors, for example a significant international crisis, reversal bills or great changes in interest rate levels. But if only one or two of these occur, our assessment is that we are facing a slowdown rather than a crash. If several external events coincide, more dramatic consequences could become reality", says Max Barclay, Head of Newsec Advisory in Sweden.

The market report Newsec Property Outlook has been published since 2001. Newsec Property Outlook is a comprehensive and free report analysing the real estate market in Northern Europe, with a focus on the Nordics and Baltics. The report is a convenient tool for investors, property owners and local users.

Download the latest issue at www.newsec.com/

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services within Advisory and Property Asset Management. Newsec was founded in 1994 and is today a partner-owned company with some 2 000 co-workers spread across the seven Nordic and Baltic markets. Newsec has approx. EUR 39 billion under management and annually signs lease agreements of some 760 000 square meters, manages transactions of some EUR 3 billion and does real estate valuations of underlying property worth almost EUR 180 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Property prices have soared, transaction volumes have reached record-highs and the industry’s shares have developed well on the stock exchange. At the same time, many now see increased risks and uncertainties. The latest issue of Newsec Property Outlook focuses on potential concerns on the Nordic and Baltic real estate market and what might trigger a crisis.

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Newsec acquires Danish DATEA

Press Releases   •   Aug 09, 2017 09:30 CEST

Newsec, the leading company within Property Asset Management and Advisory in northern Europe buys DATEA, Denmark’s market leader within commercial real estate. With this, Newsec solidifies the position in the Nordic market and offers further possibilities to work seamlessly across borders. The selling company, DADES, remains one of the biggest clients.

With the addition of DATEA, Newsec has some 1 400 co-workers, approx. EUR 39 billion under management, every year signs lease agreements of some 600 000 square meters, manages transactions of more than EUR 3 billion and does real estate valuations of underlying property worth more than EUR 100 billion per year. Newsec is present in all the Nordic and Baltic countries with a full-range offering to portfolio, as well as single project, clients.

Going forward, Property Asset Management services will be provided in Denmark under the Newsec brand as Newsec Datea and Flemming B. Engelhardt will be the head of that business. Newsec invests heavily in digitalization and new technology to stay ahead of competition and offer the best solutions to the local market.

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services. Newsec was founded in 1994 and is today a partner-owned company with some 1 400 co-workers in 41 offices. Newsec has approx. SEK 370 billion under management and annually signs lease agreements of some 600 000 square meters, manages transactions of more than SEK 30 billion and does real estate valuations of underlying property worth more than SEK 1000 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Newsec, the leading company within Property Asset Management and Advisory in northern Europe buys DATEA, Denmark’s market leader within commercial real estate. With this, Newsec solidifies the position in the Nordic market and offers further possibilities to work seamlessly across borders. The selling company, DADES, remains one of the biggest clients.

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Campido merges with Newsec

Press Releases   •   Jun 16, 2017 08:25 CEST

Newsec and Campido have agreed to merge their teams within property caretaking. Campido will therefore change its name and brand. The new organization picks the best of both companies and creates good conditions for developing a high-quality service offering.

The new organization will have about 130 employees, a turnover of about SEK 150 million and be lead by Jesper Kronstrand from Newsec.

“Campido is a strategic acquisition and gives us better prerequisites to work with a continuously improved service offer and more efficient process control. We have an ambition to take more market shares and, with the merger with Campido, we move in the right direction”, says Jesper Kronstrand, head of Property Caretaking, Newsec Property Asset Management.

Newsec and Campido have similar values and are therefore well positioned to benefit from working side by side, something that was an important parameter in the negotiations.

“Campido has a good position in the Stockholm region, but we want to grow and take further market shares in the rest of the country. Newsec has a strong brand and can help us fulfill that goal. With the merger, we become even stronger and ready to meet challenges ahead. Not least in the fight over talent, which is one of the industry's biggest challenges”, says Fredric Landell, founder Campido.

The merged business has a prominent client portfolio with some of Stockholm's most prestigious hotels and shopping centers as well as the country’s public bus system.

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services. Newsec was founded in 1994 and is today a partner-owned company with some 1 000 co-workers in 33 offices. Newsec has approx. SEK 260 billion under management and annually signs lease agreements of some 500 000 square meters, manages transactions of more than SEK 30 billion and does real estate valuations of underlying property worth more than SEK 1000 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Newsec and Campido have agreed to merge their teams within property caretaking. Campido will therefore change its name and brand. The new organization picks the best of both companies and creates good conditions for developing a high-quality service offering.

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8th time in a row – Newsec Ranked as One of the Best Places to Work in Sweden

Press Releases   •   Mar 29, 2017 16:47 CEST

It’s with great pleasure and joy that Newsec accepts the award as one of Sweden’s best companies from the organization Great Place to Work. The ranking has Newsec at a third position in the list of large organizations.

”Our core values start from a passion for colleagues and therefore this award makes us equally proud each time. We believe in putting the co-worker first since we think happy colleagues means happy clients. I am so impressed with our leaders and co-workers around Sweden who also this year deliver top results”, says Mattias Johansson, MD Newsec Asset Management Sweden.

Great Place to Work helps organizations from all industries evaluate and develop their work culture. Newsec has been evaluated according to Great Place to Work’s model, based on an analysis of a co-worker survey and the employer offering.

”I think there are many benefits in getting a professional and structured analysis by an external party and that co-worker satisfaction is especially relevant since our colleagues are our prime capital and therefore the most important thing for us to care for. This ranking is part of a wide-ranging and long-term work from our side where the ambition is set high – we want to be at the top”, says Max Barclay, MD Newsec Advisory Sweden.

Newsec is part of Great Place to Work’s Hall of Fame since 2014. This list is open to companies that have scored among the top rating ones for more than five years.

”As an employee, one can really feel that Newsec invests in people. For example, we have flexible working hours and can affect our everyday situation and there are several possibilities for internal education. It’s nice to work for a company that is driven by a passion for colleagues”, says Johanna Sjölund, leasing agent residential, Newsec Asset Management Sweden. 

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services. Newsec was founded in 1994 and is today a partner-owned company with some 1 000 co-workers in 33 offices. Newsec has approx. SEK 260 billion under management and annually signs lease agreements of some 500 000 square meters, manages transactions of more than SEK 30 billion and does real estate valuations of underlying property worth more than SEK 1000 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

It’s with great pleasure and joy that Newsec accepts the award as one of Sweden’s best companies from the organization Great Place to Work. The ranking has Newsec at a third position in the list of large organizations.

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Continuously Strong Real Estate Market despite Turbulent Surroundings

Press Releases   •   Mar 08, 2017 15:44 CET

Despite an unsettled political situation, the European and American economies are solid and Newsec expects to see stronger growth in 2017. Uncertainties on the global markets have still not had a big impact on the property market in Northern Europe and we expect to see continued interest from investors throughout the year. Interest rates remain low and there is still a great deal of liquidity in the system. 

2016 and the beginning of 2017 were colored by political turbulence and we still have important events coming up with e.g. the French presidential election. Effects of the British vote to leave the EU can be noticed in international players starting to look towards other markets than the UK. One can also expect to see impacts on the investment climate as a result of the Trump presidency, even if it’s too early to say how.

"The real estate market has been on the rise for almost a decade now and we are beginning to sense the end of this cycle. Nonetheless, interest from international and domestic investors remains high and we think that external, rather than industry internal, factors will be the cause for change”, says Max Barclay, MD Newsec Advisory Sweden.

The latest edition of the Nordic Property Outlook takes a special look at the Stockholm office market where rental levels are reaching record highs. In Stockholm CBD, we are now seeing examples of rental levels as high as around SEK 8 000 per square meter and year.

“We’ve got historically low levels of new production of office space and a high pressure to convert existing space to residentials. That, in combination with an economy that is still expanding, causes prices to go up and companies to try to find innovative solutions with flexible office space and new geographical locations”, says Max Barclay, MD Advisory Newsec Sweden.

Download Newsec Property Outlook at www.newsec.com/npo

For further information, please contact:
Max Barclay, Manging Director, Newsec Advisory Sweden
Tel: +46 (0)708 44 30 65, e-mail max.barclay@newsec.se
Ann Sonne, Head of Communication, Newsec
Tel: +46 (0)8 454 40 99, e-mail ann.sonne@newsec.se 

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services. Newsec was founded in 1994 and is today a partner-owned company with some 1 000 co-workers in 33 offices. Newsec has approx. SEK 260 billion under management and annually signs lease agreements of some 500 000 square meters, manages transactions of more than SEK 30 billion and does real estate valuations of underlying property worth more than SEK 1000 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Despite an unsettled political situation, the European and American economies are solid and Newsec expects to see stronger growth in 2017. Uncertainties on the global markets have still not had a big impact on the property market in Northern Europe and we expect to see continued interest from investors throughout the year.

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Newsec and Basale Join Forces

Press Releases   •   Nov 30, 2016 15:42 CET

Newsec has reached an agreement with OBOS to acquire all shares in Basale. That means that Basale will become part of Newsec Asset Management as of 1 January 2017. For Newsec, this is a strategic move to solidify the position in the Nordic market. For Basale, it gives increased opportunities to grow in new directions and invest more in colleagues and clients. 

“Trondheim based Basale can be proud of having developed the company to what it is today. Basale has been a good investment for OBOS and we believe we have been a sound and stable owner. Newsec has property asset management as their core business. I’m sure that they, together with the co-workers in Basale, will bring the company to the next level”, says Daniel Kjørberg Siraj, CEO OBOS.

Newsec is today northern Europe’s leading company within property asset management. Including Basale, Newsec will further confirm the position as the Full Service Property House, growing from 700 to some 1000 co-workers and approx. SEK 260 billion under management. Each year, Newsec signs lease agreements of some 500 000 square meters, manages transactions of more than SEK 30 billion and does real estate valuations of underlying property worth more than SEK 1000 billion.

“From Newsec’s side we see this as a fantastic opportunity to get access to a competent network throughout Norway. Basale is the leader in this market segment with many long- term and solid relations”, says Björn Lindeborg, CEO Newsec Nordic Asset Management.

Going forward, Newsec will provide Asset and Property Management services in Norway under the name Newsec Basale and Hilmar Auran will be the Managing Director of the new company.

“I’m very pleased to join the Newsec team. To me, Newsec represents the future of property asset management and I’m looking forward to getting access to their knowledge and joining a team with dedicated and client-oriented colleagues”, says Hilmar Auran, CEO Basale.

The real estate market is becoming increasingly consolidated and digital solutions are challenging old ways of working. A corporate structure that offers co-workers and clients high-end expertise and ensures focus on investments in new technology is a competitive advantage. Newsec can do precisely that. Clients and colleagues alike can benefit from being part of a Group with northern Europe as its home base and innovation and passion for the business in focus.

For more information, please contact:
Björn Lindeborg, CEO Newsec Nordic Asset Management AB Tel: +46 8-454 40 99
Hilmar Auran, CEO Basale 

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services. Newsec was founded in 1994 and is today a partner-owned company with some 1 000 co-workers in 33 offices. Newsec has approx. SEK 260 billion under management and annually signs lease agreements of some 500 000 square meters, manages transactions of more than SEK 30 billion and does real estate valuations of underlying property worth more than SEK 1000 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Newsec has reached an agreement with OBOS to acquire all shares in Basale. That means that Basale will become part of Newsec Asset Management as of 1 January 2017. For Newsec, this is a strategic move to solidify the position in the Nordic market. For Basale, it gives increased opportunities to grow in new directions and invest more in colleagues and clients.

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Newsec advises OX2 on 148 MW wind farm transaction

Press Releases   •   Oct 17, 2016 16:40 CEST

Newsec has acted as exclusive financial advisor to OX2 in the divestment of the large-scale Lehtirova wind farm, located in the north of Sweden. 

OX2 divests the wind farm to Aquila Capital. The purchase agreement includes supply of a full-wrap EPC as well as technical and commercial management services for operation of the wind farm. The investment is secured by a ten-year PPA contract with Google for the purchase of electricity from the wind farm. The wind farm is expected to be taken into commercial operation in December 2018.

“Newsec has advised us successfully on several transactions over the last years and we are very pleased with their services”, says Paul Stormoen, Managing Director of OX2 Wind.

Recently, Newsec also advised OX2 on the 112 MW Raskiftet wind farm transaction in Norway.

“The Lehtirova wind farm marks Newsec’s 27th deal as infrastructure and energy M&A advisor on the Nordic markets. We are very pleased to continue our work with OX2 and the other stakeholders in this deal. The deal follows an interesting trend with increasingly large scale Nordic wind farm transactions structured to provide the right risk-return profile for all involved parties”, says Omid Ashrafi, Head of Infrastructure and Energy at Newsec.

For futher information, please contact:
Max Barclay, Managing Director, Newsec Sweden
Tel: +46 708-44 30 65, e-mail: max.barclay@newsec.se
Ann Sonne, Head of Communication, Newsec
Tel: +46 730-73 28 30, e-mail: ann.sonne@newsec.se 

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services. Newsec was founded in 1994 and is today a partner-owned company with some 1 000 co-workers in 33 offices. Newsec has approx. SEK 260 billion under management and annually signs lease agreements of some 500 000 square meters, manages transactions of more than SEK 30 billion and does real estate valuations of underlying property worth more than SEK 1000 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Newsec has acted as exclusive financial advisor to OX2 in the divestment of the large-scale Lehtirova wind farm, located in the north of Sweden.

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Increased demand for housing is transforming the property market in our major cities

Press Releases   •   Sep 23, 2016 15:53 CEST

Due to continued good market conditions Newsec predict the total Swedish transaction volume to reach new record levels at SEK 180-190 billion for 2016, according to the autumn edition of Newsec Property Outlook published today. A powerful population-growth and increased demand for housing is transforming the property market in our major cities. 

"The shortage of housing and people’s desire to live more centrally means that all types of property that are suitable for residential use are being converted. More or less all suitable office buildings in the inner cities, apart from parts of the CBD, have great potential to be converted into housing sooner or later”, says Max Barclay, MD Newsec Sweden.

The city of Stockholm has set itself the target of building 140,000 housing units up to 2030, of which 37,000 is planned to be built in the inner city. As a result, the whole urban landscape is being changed and is placing new demands on the types of service functions that are needed in the inner city – services that are more suited to the needs of residents than to office-workers. Many major cities in Europe face the same transformation of the property market.

The Swedish central bank, Riksbanken, announced in September that the repo rate would remain unchanged at -0.5%. The low-interest-rate environment is expected to continue until 2017/2018. Good access to financing and lack of high-yielding alternatives is forecast to contribute to a continued high interest in properties. Newsec predicts the total Swedish transaction volume to reach new record levels at SEK 180-190 billion during the full year 2016.

Download Newsec Property Outlook at www.newsec.com/npo

For further information, please contact:
Max Barclay, Manging Director, Newsec Sweden
Tel: +46 (0)708 44 30 65, e-mail max.barclay@newsec.se 
Niklas Alm, Head of Communications, Newsec
Tel: +46 (0)708 24 40 88, e-mail niklas.alm@newsec.se 

Newsec – The Full Service Property House in Northern Europe – is the leading commercial property firm in Northern Europe. With over 700 professionals in 20 offices Newsec provides a comprehensive range of services to most of the leading property owners, investors and corporates in the region. In addition, Newsec is an alliance member of BNP Paribas Real Estate – one of the leading advisors in Europe. 

Every year Newsec carries out thousands of successful assignments and manages over 2,000 properties. Through this great volume, and the breadth and depth of its various operations, Newsec acquires superior knowledge of the property market. 

Due to continued good market conditions Newsec predict the total Swedish transaction volume to reach new record levels at SEK 180-190 billion for 2016, according to the autumn edition of Newsec Property Outlook published today. A powerful population-growth and increased demand for housing is transforming the property market in our major cities.

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Prosperous market environment for property investments

Press Releases   •   Sep 16, 2016 16:37 CEST

Even lower interest rates, higher risk appetite, good access to financing, as well as a low risk of vacancies have resulted in yield requirements for properties continuing to decline in 2015. Despite historically high property prices, Newsec believes that the probability of a strong downward adjustment of property values will be low in the coming period. At the same time, a new record year has been predicted for the Swedish transaction market in 2015.

Additional fuel has been injected into the property market as the Swedish Central Bank continued to reduce the key interest rate to a historically low - 0.35 per cent in July 2015, resulting in an even more advantageous market environment for the property sector.

“In spite of the recent volatile period in the global capital market, we believe that properties will remain an attractive asset class for the foreseeable future, despite an extensive period of increasing property prices. The interest rates are historically low and there is a surplus of liquidity in the system, the Swedish Central Bank will also find it difficult to make significant changes to its monetary policy since this would hamper growth”, Jakob Pettersson, Head of Research, Newsec.

Domestic investors have dominated the transaction market during the year. However, there is clear interest from foreign capital, particularly pension capital, in the Swedish property market, since it delivers a better risk-adjusted return compared to other property investments in the rest of Europe.

“With respect to market segments, we believe that public properties have grown to become the most attractive area for the more risk-averse investors. This segment is characterised by a long-term approach, with a stable yield in relation to risk. The transactions in the segment are expected to increase as municipalities are becoming more eager to divest portions of their existing portfolios, and are open to the possibility of private companies being responsible for new builds of, for example, schools and residences for the elderly,” says Jakob Pettersson, Head of Research, Newsec.

For further information, please contact:
Max Barclay, Manging Director, Newsec Sweden AB
Tel: +46 (0)708 44 30 65, e-mail max.barclay@newsec.se
Niklas Alm, Head of Communications, Newsec
Tel: +46 (0)708 24 40 88, e-mail niklas.alm@newsec.se

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services. Newsec was founded in 1994 and is today a partner-owned company with some 1 000 co-workers in 33 offices. Newsec has approx. SEK 260 billion under management and annually signs lease agreements of some 500 000 square meters, manages transactions of more than SEK 30 billion and does real estate valuations of underlying property worth more than SEK 1000 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Even lower interest rates, higher risk appetite, good access to financing, as well as a low risk of vacancies have resulted in yield requirements for properties continuing to decline in 2015. Despite historically high property prices, Newsec believes that the probability of a strong downward adjustment of property values will be low in the coming period.

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Demographic challenges create opportunities in the property market

Press Releases   •   Mar 10, 2016 15:35 CET

Low interest rates and good access to funding, volatile global stock markets and low yields in the bond market are contributing factors to the great interest of Nordic properties, according to the spring edition of Newsec Property Outlook published today. Major demographic changes create challenges and opportunities in the property market in the coming years. 

"Newsec estimate an investment requirement of more than SEK 1 500 billion in new residential and public properties until 2030.This is a result of population growth, which will be a major challenge for the Swedish property sector and Sweden at large," says Max Barclay, MD of Newsec Swedish consulting companies.

Sweden, along with the rest of Europe, face major demographic changes with significant refugee flows, historically high birth rates and an aging population. Only in Sweden the population is estimated to increase by 2% 2015 and 2016 as a result of immigration. These changes in population will entail serious consequences for the property sector the next 15 years, not least with regard to community properties.

The Swedish Riksbank decided to cut the interest rate further to -0,5% at its last meeting in February. The latest rate cut strengthens an already very strong Swedish property market. Low interest rates and good access to funding is expected to continue until 2017, which will sustain the good financing climate on the Swedish property market throughout 2016.

For further information, please contact:
Max Barclay, Manging Director, Newsec Sweden
Tel: +46 (0)708 44 30 65, e-mail max.barclay@newsec.se
Niklas Alm, Head of Communications, Newsec
Tel: +46 (0)708 24 40 88, e-mail niklas.alm@newsec.se 

Newsec – The Full Service Property House in Northern Europe – offers real estate owners, investors and tenants a full range of services. Newsec was founded in 1994 and is today a partner-owned company with some 1 000 co-workers in 33 offices. Newsec has approx. SEK 260 billion under management and annually signs lease agreements of some 500 000 square meters, manages transactions of more than SEK 30 billion and does real estate valuations of underlying property worth more than SEK 1000 billion. Thanks to large volumes, local presence combined with in-depth understanding of a range of businesses, Newsec has a unique expertise of the real estate market in northern Europe.

The market report Newsec Property Outlook has been published since 2001. Download the latest issue at www.newsec.com/npo

Low interest rates and good access to funding, volatile global stock markets and low yields in the bond market are contributing factors to the great interest of Nordic properties, according to the spring edition of Newsec Property Outlook published today. Major demographic changes create challenges and opportunities in the property market in the coming years.

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Contacts 5 contacts

  • Press Contact
  • Head of Communication
  • ann.sonne@newsec.com
  • +46 8-454 40 99

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