The Nordic countries at the top – what does this mean for the commercial real estate market?
For the fourth consecutive year, JLL, one of the world’s largest real estate companies, together with its Nordic partners, EDC Erhverv Poul Erik Bech in Denmark and Akershus Eiendom in Norway, organised an exclusive Nordic Investor Summit, this time held in London.
Helle Nielsen Ziersen, Head of International Relations at EDC Poul Erik Bech, said: “Despite strikes and demonstrations in London, the event was well attended, with investors gaining insight into economic trends, transactions and developments in the Nordic markets in the context of current European and global conditions. A key takeaway from the event is that the Nordic countries are at the top of the international league table in terms of economy, stability, business climate and infrastructure.”
“The four Nordic countries are all in the top 15 of IMD’s World Competitiveness Ranking, which ranks 69 countries based on their economy, stability, business climate and infrastructure. Denmark is best placed at number 4, while Sweden is number 8, Norway 12 and Finland 14. As always, we had many good dialogues with our international partner JLL and the many investors who participated, who continue to show clear interest in the Nordic region and Denmark,” says Helle Nielsen Ziersen and continues:
“The Nordic countries form a robust and innovative region with strong economic foundations and a stable investment climate, supported by high innovation and sustainability. Sweden and Finland are expected to outperform the EU average in growth, with increased capital inflow and diversification, while Denmark and Norway show robust economies and increasing transaction volumes.”
JLL is one of the world’s largest real estate companies and is represented in over 80 countries with a turnover of DKK 147 billion, more than 106,000 employees and EDC Poul Erik Bech is JLL’s Danish partner.
What does this mean for the commercial real estate market?
Joseph Alberti, Head of Research at EDC Poul Erik Bech, gave a presentation on the Danish real estate market at the Nordic Investor Summit in London, and he sees clear correlations between Denmark’s strong competitive position and the growth of the commercial real estate market in 2025:
“The general picture of the commercial real estate market in Denmark is that it is doing well. Transaction volumes are significantly higher this year compared to the same time last year. In the first eight months of the year, we have already reached 82% of last year’s transaction volume, considering that the last months of the year tend to be the highest volume months.”
“From an investor perspective, the high competitiveness in Denmark means lower risk and stable returns. This is also why foreign investors have once again turned their attention to Denmark, which can be characterised as a ‘safe haven’ with stable rental income compared to countries with weaker framework conditions. Foreign investors account for 40% of the transaction volume YTD, which is part of the reason why the transaction volume is somewhat above the level from last year.”
“It’s a bit of a domino effect. Economic growth drives demand and more companies, more activity and increasing exports means a greater need for more offices, production space and logistics centres. Skilled labour attracts companies and therefore the need and demand for real estate will also increase,” says Joseph Alberti and continues:
“International investors are primarily looking for newer residential rental properties and industrial and logistics properties, which is what drove the Nordic commercial real estate market in the first half of 2025, when investments in Nordic commercial property increased by 33%. The expectation is that this trend will continue and that 2025 will surpass 2024.”