Sweden MarketBeat

Logistics - Q2 2026

H1 2026 completions totalled nearly 181,000 sq m, with approximately 107,000 sq m delivered in Q2, representing a 13% YoY increase. Vacancy increased to 9.5%, with rises in Stockholm (12.0%), Gothenburg (6.5%) and regional cities (11.0%), while Öresund declined to 5.5%. Prime yields remained stable at 4.85% in Stockholm and Gothenburg, 5.20% in Öresund and 5.35% in regional cities, with rents unchanged across all markets.

Residential - Q2 2026

Q2 investment totalled SEK 17.8 billion (25% of transaction volume), reflecting a modest 6% YoY decline while investor demand remained focused on high-quality residential assets. Prime yields compressed to 3.75% in Stockholm and 4.30% in Gothenburg, while remaining stable at 4.50% in Malmö. Regulated rents were unchanged in Stockholm and Gothenburg but increased in Malmö.

Retail - Q2 2026

Consumer sentiment remained below normal levels despite improving economic expectations, while retail confidence stayed stronger than other business sectors. Prime rents in Stockholm increased across high street, shopping centres and retail parks, while retail investment reached SEK 7.9 billion, up 163% YoY. Prime yields compressed for high street (3.85%) and retail parks (5.75%), remained stable for shopping centres (4.45%). Retail sales recorded strong annual growth of 8.3%.

Economic & Investment Overview - Q2 2026

Sweden's economic recovery continued despite heightened geopolitical uncertainty, supported by stable business sentiment and expectations of stronger growth during H2 2026. Q2 transaction volume reached SEK 71.6 billion (+85% YoY), with residential (25%) and industrial (18%) leading activity. Prime yields compressed in the office and residential sectors to 3.75%, while logistics (4.85%) and retail (shopping centres) (4.45%) remained stable.

Office - Q2 2026

H1 office completions totalled 76,800 sq m (-22% YoY), with 45,800 sq m delivered in Stockholm and 31,000 sq m in Gothenburg. CBD vacancy remained stable in Stockholm (8.0%) and Gothenburg (17.0%) but increased to 9.0% in Malmö, while overall vacancy also rose in Malmö. Prime CBD rents increased to SEK 9,850 in Stockholm and remained stable in Gothenburg and Malmö, while Stockholm CBD yields compressed to 3.75%; Gothenburg (4.50%) and Malmö (4.80%) were unchanged.

Office - Stockholm - Q2 2026

H1 completions totalled 45,800 sq m, including 20,800 sq m in the CBD, 5,900 sq m in the City Centre and 19,100 sq m in decentralised locations. Overall vacancy remained stable at 18.5%, with CBD (8.0%), City Centre (14.0%) and decentralised markets (23.0%) unchanged QoQ. Prime rents increased to SEK 9,850 in the CBD, while remaining at SEK 6,200 in the City Centre and SEK 4,100 in decentralised areas. CBD and City Centre yields compressed to 3.75% and 4.20%, while decentralised yields remained stable at 4.80%.