| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 5.00 % |
| Market Concentration | Low |
Major Players.webp "Residential Real Estate Market in Scandinavian Countries Major Players")
*Disclaimer: Major Players sorted in no particular order |
Scandinavian Countries Residential Real Estate Market Analysis
The Residential Real Estate Market in Scandinavian Countries Industry is expected to register a CAGR of greater than 5% during the forecast period.
- >
- Scandinavian countries are growing rapidly and are projected to be among the fastest-growing region in Europe in the future. Rising house demand has not been matched by construction over a long period due to taxes, regulations, and lack/mismatch of incentives. However, the increase in population and immigration is expected to bring growth in the housing market in countries such as Sweden and Norway.
- The EU bank EIB has signed a SEK 2.5 billion (USD 235.5 Million) loan agreement with the City of Stockholm to support energy-efficient housing. This investment will help provide 1500 new energy-efficient residential housing units in the Swedish capital. The City of Stockholm and surrounding municipalities is home to nearly 25% of Swedes. It is also the largest urban agglomeration in the Nordic region. Increasing the stock of new public rental housing in existing urban areas, like in the capital of Sweden, will improve the social mix in Stockholm, a city that has been growing rapidly. Thereby, building these more than 1500 residential units will promote affordable housing.
- New figures from Statistics Denmark show that construction of 8,703 homes was completed in the 4th quarter 2021, when adjusted for season, which is a decrease of 4% compared to the previous quarter. This brings the total number of completed residential buildings to 34,897 in 2021. The slightly more subdued development in 2021 must be seen in the context of the fact that it has continuously become more expensive to build new homes throughout the year 2021.
- Currently, Denmark's strategy for sustainable construction is based around a voluntary standard, but it enters a new phase in 2023. With this strategy, Denmark is the first country to introduce embodied carbon limits into building regulations. Taking into account that approximately 11% of global CO2 emissions result from manufacturing building materials, this is a crucial step for decarbonising the built environment.
Scandinavian Countries Residential Real Estate Market Trends
Growing Housing Market in Norway to Drive the Market
Norway's housing market is making a return after a poor performance in 2020. According to Statistics Norway, the first three quarters of 2021 saw a 3.6% increase from the previous year. In the first half of 2022, residential property sales in Norway fell by 8.9% to 41,275 units from a year earlier, in contrast to y-o-y increases of 6.8% in 2021 and 3.6% in 2020, according to Statistics Norway. Construction activity remains weak. In 2021, dwelling stats rose by a minuscule 0.7% y-o-y to 30,126 units while completions dropped 2.6% to 28,398 units.
In 2022, house prices in Norway have been turbulent, with some months showing a rise and others a dip. According to the statistics, the average price for a home in Norway was NOK 4,535,711 (USD 430,570) at the end of September 2022. House prices in Norway are easing due to interest rate hikes implemented by the nation's central bank since September 2021. Property owners and first-time home buyers have been hit by a double whammy of high inflation and rising interest rates. The latest rate hike implemented in November 2022 took rates to 2.5% in Norway - a sharp rise from a record low of 0% present just over a year ago.
Understand The Key Trends Shaping This Market
Download PDF
Increase in Demand for Apartments
In the first half of 2022, 8,644 owner-occupied apartments were sold in Denmark, down a third from 2021's tally of 12,947 flats sold by that time. The figure is also slightly down on the number of apartments sold during the first halves of 2019 and 2020. The last year which saw fewer apartments sold during its first six months was 2014. In contrast to the villas and summer houses, fewer newly built owner-occupied apartments were completed in 2021 compared to the previous year. There were 13,520 completed apartments, with a total of 15,386 new ones added in 2020.
In Veidekke has been commissioned by Nesgata 19 utvikling AS (a joint venture by OBOS Nye Hjem and Otto Olsen Boligutvikling) to build the second tranche of housing in the Kvarteret residential project in the town of Lillestrom. The commission is a design and builds contract worth NOK 248 million (USD 23.9 Million) excluding VAT and will entail the construction of 84 eco-certified apartments and an underground car park.
Skanska has divested a multi-family rental project with high climate ambitions in Stockholm, Sweden, for about SEK 580 Million (USD 54.6 Million). Skanska is developing the Tora project, next to Spanga commuter train station, in the emerging new Bromstensstaden. The block consists of 145 rental apartments, of which ten are LSS homes for people with special needs. The project has great focus on minimizing climate impact. Skanska's green concrete, which has a halved climate impact compared to regular concrete, as well as solar panels on the roofs are examples of measures that contribute to lower emissions.
Get Analysis on Important Geographic Markets
Download PDF
Scandinavian Countries Residential Real Estate Industry Overview
The residential real estate market in Scandinavian countries is competitive. Competition and pricing have increased strongly as new investors and developers have entered the market. Moreover, both the demand and supply of real estate are increasing. The residential real estate market consists of regional and international players. Some of the key players operating in the market include Riksbyggen, Fastighets AB Balder, Danish Homes, Dades AS, and Veidekke ASA.
Scandinavian Countries Residential Real Estate Market Leaders
-
Riksbyggen
-
Fastighets AB Balder
-
Danish Homes
-
Dades AS
-
Veidekke ASA
- *Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competiters?
Download PDF
Scandinavian Countries Residential Real Estate Market News
April 2022: Trivselhus developed a new product called Stella 131. Stella 131 is a well-planned house that fits perfectly on narrower plots as the entrance is located on the gable. Exits for four directions make the house easy to place on the plot and provide the opportunity to create several patios for both sun and shade. The slightly elevated wall life on the façade allows for space for an awning or pergola.
April 2022: The Lindbacks has signed an agreement with K-fast, Eskilstuna's municipal properties. The agreement includes building of 86 rental apartments in three wooden buildings with geothermal heating and solar cells.
Scandinavian Countries Residential Real Estate Industry Segmentation
A complete assessment of the Residential Real Estate Market in Scandinavian Countries includes an assessment of the economy, market overview, market size estimation for key segments, and emerging trends in the market segments in the report. The report sheds light on the market trends like growth factors, restraints, and opportunities in this sector. The competitive landscape of the Residential Real Estate Market in Scandinavian Countries is depicted through the profiles of active key players.
The Residential Real Estate Market in Scandinavian Countries is segmented By Type (Villas and Landed Houses, and Apartments and Condominiums) and By Country (Norway, Sweden, Denmark, and Other Scandinavian Countries). The report offers market size and forecasts in values (USD billion) for all the above segments.
| By Type | Villas and Landed Houses |
| Apartments and Condominiums | |
| By Country | Norway |
| Sweden | |
| Denmark | |
| Other Scandinavian Countries |
Need A Different Region or Segment?
Customize Now
Scandinavian Countries Residential Real Estate Market Research FAQs
What is the current Indonesia Residential Real Estate Market size?
The Indonesia Residential Real Estate Market is projected to register a CAGR of greater than 5% during the forecast period (2025-2030)
Who are the key players in Indonesia Residential Real Estate Market?
Riksbyggen, Fastighets AB Balder, Danish Homes, Dades AS and Veidekke ASA are the major companies operating in the Indonesia Residential Real Estate Market.
What years does this Indonesia Residential Real Estate Market cover?
The report covers the Indonesia Residential Real Estate Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Indonesia Residential Real Estate Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
Scandinavian Residential Real Estate Industry Report
Statistics for the 2025 Residential Real Estate in Scandinavian Countries market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Residential Real Estate in Scandinavian Countries analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
