CBRE Finland Office Market Snapshot Q2 2021
Despite second quarter of 2021 reached investment volumes of only €236 million, the market activity cheered up noticeably towards the end of the first half of the year. The largest transactions in the second quarter were Altaal’s acquisition of the Ramboll headquarters in Leppävaara for €69 million and Trevian’s purchase of an office property in Pitäjänmäki for €24.4 million.
Prime office yield has recovered back to pre-COVID levels at 3.25% as the sentiment for offices has improved from the start of the year and there continues to be a large amount of deployable capital looking for the right product. The investment market focus is increasingly on higher-quality core products and tenant strength.
Occupiers are looking to restore the connection to their workforce and plan for a return to the office after summer holidays in Q3. Companies are optimistic about the second half of 2021 despite the delta variant and the rise in infections over the summer.