Norway MarketFlash

Norway after Covid-19

CBRE's latest forecast shows that the Norwegian CRE market will experience a significant hit by COVID-19 in 2020, but that particularly the Oslo office market will outperform relative to other major European cities in the following years.

Office MarketView Snapshot

Q1 2020

Office investment activity dried up in Q1 2020 as the ongoing COVID-19 crisis has forced many processes to a halt. Leasing activity was surprisingly good, given the circumstances, but we are seeing signs that rents have begun falling and that this likely will continue over the coming quarters.

Investment Market Snapshot

Q1 2020

Despite the ongoing COVID-19 crisis, the Norwegian CRE investment market delivered solid growth in Q1 2020. However, the growth was entirely driven by M&A activity and we expect that the market will show more visible effects of COVID-19 in the coming quarters.

Norway Property Investment Yields Sheet

Q1 2020

Bond yields and long swap rates have come down since the end of 2019 on the significant risk-off sentiment in financial markets driven by the COVID-19 pandemic. This has provided a little more headroom for the tight yield gap for prime yields in Norway compared to the other Nordic countries. Yet, the risk-off sentiment has also caught up in CRE, forcing us to revise yield benchmarks for Q1 2020.
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