Strong month for Nordic property transactions – logistics and residential segments in focus during April

– We are seeing transaction volumes increase in Sweden, Norway and Finland compared to the same month last year, with several large portfolio deals completed in both residential and light industrial segments. April confirms that the Nordic transaction market continues its recovery, says Axel Tärn, Head of Research, Colliers Nordics.

Transaction activity rose across all Nordic markets in April compared to the same period in 2024. The total volume reached EUR 1.5 billion – excluding Denmark – with Sweden accounting for the largest share at EUR 0.8 billion. The strongest demand was seen in logistics, light industrial and residential segments, while office activity remained subdued during the month.

– On the macroeconomic side, inflation now appears to be more under control, which contributes to a more stable investment environment. While global uncertainty persists, many market participants expect interest rate cuts ahead – which may increase investor willingness to act, says Axel Tärn, and continues:

– Portfolios with strong cash flows and stable tenants continue to attract capital across the Nordics, especially as investors seek diversification in a more balanced interest rate environment. In April, we saw several examples of this – from Emilshus and Swedish Logistics Property’s acquisitions in Sweden, to Greykite’s purchase of industrial properties from Regio and Public Property Invest ASA’s transaction in Helsinki.

The residential segment remained strong in Sweden, with several notable transactions in April. Lansa Fastigheter acquired 211 apartments from Peab for SEK 530 million, Hines purchased 310 rental units from Magnolia Bostad, and EQT entered into a forward funding agreement with Byggvesta involving 388 apartments.

– We expect interest in residential assets to increase across the Nordics. As inflation stabilises and expectations of interest rate cuts grow, we’re already seeing capital return to the residential sector in Sweden. It’s not only seen as a defensive asset – regulated rents and steady demand in many markets provide more predictable income and a lower risk profile for investors. If interest rates also decline, the potential for yield improves, making the segment particularly attractive right now, says Axel Tärn.

Key figures – April 2025

Total Nordic transaction volume (excluding Denmark): EUR 1.5 billion

• Sweden: EUR 0.8 billion (EUR 1.9 billion in April 2024)
• Norway: EUR 0.4 billion (EUR 0.2 billion in April 2024)
• Finland: EUR 0.3 billion (unchanged from April 2024)

Selected major transactions

• Emilshus acquires 35 light industrial properties (SEK 1,400m)
• Swedish Logistics Property completes sale-and-leaseback of industrial/logistics property (Sörred 7:8, SEK 625m)
• Greykite completes large-scale industrial acquisition
• Public Property Invest ASA acquires Metallimiehenkuja 6–8 in Helsinki (EUR 79m)
• The Malling family acquires Drammensveien 130 in Oslo (NOK 500m)