A quiet first half on the transaction market.
The transaction volume for the first half of the year 2023 was low and reached EUR 1.4 billion, which is the weakest H1 volume since 2013. During the first half of 2023, the most popular property type was residential portfolios, and industrial and logistics properties came second.
Prime yields for offices kept going up in each HMA submarket. For Helsinki CBD, the prime yield increased by 0.5 pp, reaching 4.5%. Other submarkets went up by 0.20–0.50 pp. In the growth centres, the prime yields for offices also climbed, excluding Oulu, where it remained the same. Prime yields in other property types increased as well.
In the HMA, office vacancy rate increased by 0.5 pp during the spring, ending at the level of 14.4%. The lowest rate was found in the Pasila district where the decline continued and reached 5.8%. Regarding the growth centres, vacancy rate increased the most in Tampere, ending at 11.3%, and decreased the most in Vaasa. For the other growth centres, changes were mostly minor.
The Catella Market Indicator, Autumn 2023 can be ordered by clients and co-operators for free from the following e-mail: email@example.com.
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