Economic & Investment Overview - Q3 2026
Sweden's economic recovery remains on track despite continued geopolitical uncertainty. Although growth has slowed somewhat in the near term, it is expected to gain momentum again in 2027, supported by rising consumer confidence and above-average business sentiment. Q3 transaction volume totalled SEK 22.2 billion, down 37% YoY, as a more challenging interest rate environment moderated investment activity. Residential (41%) and industrial (22%) were the most active sectors, while domestic investors accounted for 83% of total investment volume. Prime yields remained stable across the major sectors at 3.75% for offices and residential, 4.85% for logistics and 4.45% for shopping centres.
Logistics - Q3 2026
Nearly 214,000 sq m of new logistics space was completed in Q3, representing a 193% YoY increase, with total 2026 completions expected to reach approximately 800,000 sq m. National vacancy remained stable at 9.5%, despite increases in Stockholm (12.5%), Gothenburg (7.5%) and Öresund (6.5%), while regional cities declined to 10.0%. 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 - Q3 2026
Q3 investment totalled SEK 9.0 billion (41% of transaction volume), representing an 18% YoY decline while residential remained the most active investment sector. Prime yields remained stable at 3.75% in Stockholm, 4.30% in Gothenburg and 4.50% in Malmö. Regulated rents were also unchanged across all three markets, while residential construction remained below historical levels.
Retail - Q3 2026
The Consumer Confidence Indicator rose to its highest level since December 2021, although overall consumer sentiment remained broadly in line with its historical average. Prime rents in Stockholm remained stable for high street and shopping centres, while retail park rents increased by 2.1%. Retail investment reached SEK 2.2 billion, down 63% YoY. Prime yields remained stable for high street (3.85%) and shopping centres (4.45%), while retail parks compressed to 5.70%. Retail sales recorded annual growth of 6.7%.
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%.
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For more detailed data for the office sector, please read our report Office Snapshot Sweden.
