Logistics - Q1 2026
In Q1 2026 completions totaled nearly 150,000 sq m, driven by regional cities and reflecting a slight YoY decline. Vacancy remained stable overall at 9.0%, with decreases in Gothenburg (6.0%), stability in Stockholm (11.5%), and increases in Öresund (6.5%) and regional cities (10.0%). Prime yields held firm at 4.85% in Stockholm and Gothenburg and 5.20% in Öresund, while regional cities saw slight compression to 5.35%, with rents unchanged across all markets.
Residential - Q1 2026
Q1 investment totalled SEK 12.3 billion (25% of volume), reflecting strong growth of 76% YoY and continued investor demand for high-quality assets. Prime yields compressed to 3.80% (Stockholm), 4.35% (Gothenburg) and 4.50% (Malmö), while regulated rents increased in Stockholm and remained stable in other markets. Construction activity showed signs of stabilisation, supported by improved financing conditions, regulatory changes and continued confidence in new development.
Retail - Q1 2026
Consumer sentiment remained below normal levels, while retail and services confidence weakened slightly. Stockholm high street rents continued to grow, increasing by 3.6% QoQ, while shopping centre and retail park rents remained unchanged. Retail investment reached SEK 2.6 billion in Q1 (+30% YoY), with prime yields stable at 3.95% (high street), 4.45% (shopping centres) and 5.80% (retail parks). Retail sales showed moderate annual growth, driven by durables (+5.1%).
Economic & Investment Overview - Q1 2026
Sweden’s economic recovery continued into early 2026, supported by rising household consumption, improving labour market conditions and stable business sentiment. Q1 transaction volume reached SEK 48.7 billion (+32% YoY), with industrial (28%) and residential (25%) leading activity. Prime yields remained stable across most segments, including office (3.85%), logistics (4.85%) and shopping centres (4.45%), while residential yields saw slight compression to 3.80%.
Office - Q4 2025
H2 office completions totalled 25,000 sq m (‑71% YoY), bringing 2025 deliveries to 124,000 sq m. CBD vacancy fell in Stockholm to 7.5%, held at 15.0% in Gothenburg, and rose to 10.0% in Malmö, while overall vacancy increased across all metros. Prime CBD rents were stable in Stockholm and Malmö, with Gothenburg rising to SEK 4,500. CBD yields compressed to 3.85%; Gothenburg (4.50%) and Malmö (4.85%) were unchanged.
Office - Stockholm - Q4 2025
No completions were recorded in H2, leaving full‑year deliveries at 74,000 sq m. Overall vacancy rose to 18.5% driven by decentralised markets (23.0%), while CBD vacancy declined to 7.5% and City Centre remained at 14.0%. Prime rents stayed flat at SEK 9,800 (CBD), SEK 6,200 (City Centre) and SEK 4,000 (Decentralised). CBD yields edged down to 3.85%, with other submarkets stable.
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