(Finansavisen): – Norway is a very efficient market to invest in. The same goes for Sweden and Finland, said Eoin Condren, director of European investment in American WP Carey Finansavisen under the international estate fair MIPIM in Cannes Southern France last week.
Denmark was not mentioned.
– We have not bought anything there. I’ve heard that Danes are difficult to negotiate with. They have very close relationships with each other, strong and traditional ties, continued Condren when he was asked to explain why.
W. P. Carey has been behind several purchases in the Nordic countries in recent years. Among other things, the company has invested in an office park in Groroddalen in Oslo with Norwegian Winta Property.
With roughly the same population, comparable culture and language as well as virtually neighboring state in the Nordic countries, Denmark is a country it can be natural to compare with. But the Norwegians’ propensity to choose Denmark as a holiday destination is not the style of investment.
Of the larger Norwegian real estate investors have only KLP ventured with purchases on the Danish market, and statistics for last year underpin general purchases refusal extending beyond the Nordic countries:
in Denmark were traded investment properties for 50.9 billion Danish kroner last year. It accounted for foreign investment 18.8 billion Danish kroner. The figures stem from Danish Red Property Advisers, and then also the smallest transactions below 50 million included – 2,795 pieces with a total value of 11.6 billion. If one keeps these are excluded, the total volume thus 39.3 billion Danish kroner.
In Norway, by comparison, sold investment properties 130 billion (Norwegian) million last year. It accounted for foreign investment 46.8 billion kroner, everything according to DNB Næringsmegling. In Norwegian tradition is the smallest transactions below 50 million excluded.
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