The Nordic economies, especially Sweden and Norway, have outperformed most of Europe in recent years, and this has been attracting the attention of international investors. According to Newsec, which manages more than 1,500 commercial properties in northern Europe, the Nordic property market has accounted for about 15–20 percent of total European property turnover in recent years, while having just over 5 percent of the total European population.

Arvid Lindqvist, chief economist at Newsec, gives an overview of the Nordic property market: “The four countries in the Nordics are in different positions in the property cycle. Sweden and Norway are at the top end of the cycle and Sweden alone accounts for half of the Nordic market. Norway is a much smaller market but its oil and gas markets give it stability. Denmark is recovering from a five-year downturn because of a residential price bubble. But I have seen a number of Swedish investors doing deals in Denmark lately, aiming