Norway | Cushman & Wakefield

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js-breadcrumb-item"><a href="/en/offices">Offices</a></li> <li class="breadcrumb-item js-breadcrumb-item active" aria-current="page">Norway</li> </ol> </nav> </section>  <section class="container" style="" > <div class="theme-darkblue"> <div class="hero mix_hero-image js-hero"> <img class="d-none d-md-block image-resizing h-auto" alt="Norway office " src="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/emea/norway/norway-office-desktop.jpg?rev=65a35ed7343e43e785915e7561aedf86" width="1488" height="360"/> <img class="d-block d-md-none image-resizing h-auto" alt="Norway office " src="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/emea/norway/norway-office-mobile.jpg?rev=77e8ec6eb3944563b16e5cb1dde9f664" width="366" height="234"/> </div> </div> </section> <div class="container"> <div class="row"> <div class="col-lg-8" style=""> <section style=""> <div class="page-title" data-dttype="OfficeDetailPage"> <h1 class="page-title-main">Norway</h1> </div><div class="rich-text"> <h6 style="text-align: left;"><a href="#PropertyListings">PROPERTY LISTINGS</a> | <a href="#NorwayResearch">NORWAY RESEARCH</a></h6> </div> <div> <div class="page-content-body rich-text"> <h2>Cushman & Wakefield Norway</h2> <p>Tomorrow’s demand for commercial real estate will reflect how we live, work and shop. Through insight-based and future-focused advisory services we achieve the best results for our clients.</p> <p>Cushman & Wakefield Realkapital has more than 30 years of experience from the Norwegian CRE market, during which time we have built up an expert and innovative commercial real estate and financial environment.</p> <h3>Norway and Oslo</h3> <p>Norway has some 5.6 million (2023) inhabitants, of whom 1.4 million live in the Greater Oslo area. Population growth has been strong in recent years, particularly in Greater Oslo which has grown by 1-2 percent annually since 2002. </p> <p>Norway has the third largest GDP per capita in Europe at EUR 72,500 (2023). The Norwegian economy is modern, with services constituting more than 75 percent of GDP. In step with declining exploration activity, the Norwegian economy has become less and less dependent on oil and gas. However, a significant part of the income from the oil and gas sector has been saved in the Government Pension Fund Global, also known as the Oil Fund, which by August 2024 has a value in excess of EUR 1,52 trillion. The Fund ensures Norway considerable freedom of action in economic policy.</p> <p>Norway has its own currency (NOK), which in August 2024 had exchange rates of EUR/NOK 11.80 and USD/NOK 10.80. Norway is a member of the European Economic Area (EEA).</p> <h3>Commercial Real Estate in Oslo and Norway</h3> <p>The total Norwegian workforce numbers about 2.9 million (2023), with just over 0.5 million jobs being located in Oslo and close to half of these being within office-intensive sectors. </p> <p>Total CRE transaction volume was equivalent to EUR 10 billion a year over the last 5 years, split between 35% offices, 19% industry/logistics, 14% retail, 10% social infrastructure and 14% residential/housing development. The annual transaction volume has been rising over the last decade, and Norwegian commercial real estate has become an increasingly mature and liquid market. The sale and purchase process for CRE is efficient in Norway with little bureaucracy and effective digital systems. </p> <p>Total <a href="https://www.cushmanwakefield.com/en/insights/covid-19-impacts-norway-real-estate">take up in the office rental market in Oslo</a> was 870,000 sq m in 2023 and this figure normally varies between 600 and 900,000 sq m annually. Prime rent in the Central Business District is equivalent to approximately EUR 500/sq m/year and the rent for modern and attractive offices varies between EUR 225-500/sq m depending on location in the city. Construction activity is for the time being low in Oslo. <br /> <br /> The other main real estate markets in Norway are Bergen, Stavanger and Trondheim. Bergen on the west coast is the second largest city with 292,000 inhabitants. Stavanger region follows with 261,000 and Trondheim has 215,000 inhabitants. There are over 1.1 million jobs in these cities, which make up about 35% of the total number om jobs in Norway.</p> <h3>What we offer</h3> <p>Cushman & Wakefield Realkapital has a team of 30 advisors in our Oslo office. We cover the full range of advisory services from capital markets transactions, leasing/subletting and valuation to occupier services and development. We are a leading real estate firm in Norway within the office, retail, logistics and development sectors. The team works closely with our clients, deploying specialists to meet the precise needs of a particular transaction. A solid research group provides complete oversight of the markets in Oslo and the largest cities in Norway in support of our services, which also benefit from an inhouse graphic design unit that secures the best design for clients’ project and marketing material. </p> <p>Our clients include several of Norway’s largest listed companies, public sector agencies and both Norwegian and international occupiers and investors. </p> <p>In all our work we endeavor to give clients the best possible service, based on commitment, execution strengths, integrity, value-creating insight and expertise.<br /> <br /> Cushman & Wakefield Realkapital recognizes the importance of social and environmental responsibility and seeks to contribute actively to the sustainable development of the commercial real estate industry. Therefore, we are proud to have contributed to the foundation of the <a rel="noopener noreferrer" href="https://www.worldgbc.org/member-directory/norwegian-green-building-council" target="_blank" title="Learn more">Norwegian Green Building Council</a> and the establishment of the <a rel="noopener noreferrer" href="https://byggalliansen.no/wp-content/uploads/2018/07/BREEAM-NOR-Engl-ver-1.1.pdf" target="_blank" title="learn more">BREEAM NOR</a> environmental certification in Norway.</p> </div> </div> <input type="hidden" id="l1" value=59.911834> <input type="hidden" id="l2" value=10.725787> <input type="hidden" id="prop" value=Visiting+address%3a+Kronprinsesse+M%c3%a4rthas+plass+1%2c+8.etasje+0160+Oslo%2c+Norway+Oslo%2c+Oslo+125> <div id="map"></div>  <style type="text/css"> #map { width: 100%; height: 450px; margin-bottom: 40px; } </style> <script type="text/javascript"> var p1 = document.getElementById('l1').value; var p2 = document.getElementById('l2').value; var prop = 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href="tel:+47 23 11 68 68">+47 23 11 68 68</a></p> </div> </div> <div class="sidebar"> <h4 class="sidebar-header text-center">Local Office Contact</h4> <div class="card mix_person"> <a href="/en/people/petter-wien-christensen"> <img class="card-img-top image-resizing" alt="Petter" src="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/imported-person-bio-images/petter-chr-norway.jpg?h=224&w=224&rev=7411d11808274b0ba0e9dd0f344c605d&hash=3B47C1D8ED640451F3BFEE0792A93AED" height="224" width="224" /> </a> <div class="card-body"> <h6 class="font-weight-bold"> <a href="/en/people/petter-wien-christensen">Petter Wøien-Christensen</a> </h6> <p class="card-text mt-3"> <span class="font-weight-bold">Managing Partner</span><br /> <span class="font-weight-bold">Oslo, Norway</span><br /> </p> <hr class=""/> <p class="font-weight-bold "> <a href="/api/GetVCard?personId={41AD37A2-8580-45DF-A0B4-C0CA0597BAB7}&vcn=PetterWøien-Christensen"><i class="far fa-id-card"></i> Download VCard</a> </p> </div> 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</p> <hr class=""/> <p class="font-weight-bold "> <a href="/api/GetVCard?personId={BBE5273C-AC9F-4D90-B993-42107F5F1719}&vcn=MariusGDietrichson"><i class="far fa-id-card"></i> Download VCard</a> </p> </div> </div> </div> <div class="col-lg-4"> <div class="card mix_person " onclick="location.href='/en/people/anne-bruun-olsen';"> <a href="/en/people/anne-bruun-olsen"> <img class="card-img-top image-resizing h-auto" alt="Anne Bruun-Olsen" src="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/emea/norway/people/anne-bruun-olsen.jpg?rev=14ce9dd79f544c85a9ef3111cd8d4637" width="564" height="343"/> </a> <div class="card-body"> <h6 class="font-weight-bold"><a href="/en/people/anne-bruun-olsen">Anne Bruun-Olsen</a></h6> <p class="card-text mt-3"> <span class="font-weight-bold">Occupier Services</span><br> <span class="font-weight-bold">Oslo, Norway</span><br> </p> <hr class=""/> <p class="font-weight-bold "> <a 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class="row"> <div class="col-lg-4"> <div class="card mix_person " onclick="location.href='/en/people/petter-platou';"> <a href="/en/people/petter-platou"> <img class="card-img-top image-resizing h-auto" alt="Petter Platou.jpg" src="https://cwg-p-001.sitecorecontenthub.cloud/api/public/content/1bd5fdc0b7864d0abcb21768654f8842?v=08b65540" width="564" height="343"/> </a> <div class="card-body"> <h6 class="font-weight-bold"><a href="/en/people/petter-platou">Petter Platou</a></h6> <p class="card-text mt-3"> <span class="font-weight-bold">Head of Valuation</span><br> <span class="font-weight-bold">Oslo, Oslo 125, Norway</span><br> </p> <hr class=""/> <p class="font-weight-bold "> <a href="/api/GetVCard?personId={2DD94CB0-380B-492B-BB63-B5874FC0532E}&vcn=PetterPlatou"><i class="far fa-id-card"></i> Download VCard</a> </p> </div> </div> </div> <div class="col-lg-4"> <div class="card mix_person " onclick="location.href='/en/people/hans-petter-skogstad';"> <a href="/en/people/hans-petter-skogstad"> <img class="card-img-top image-resizing h-auto" alt="Hans Petter Skogstad" src="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/emea/norway/people/hanspetterskogstad.jpg?rev=048b0aa639e942088832fd0bad07f681" width="564" height="343"/> </a> <div class="card-body"> <h6 class="font-weight-bold"><a href="/en/people/hans-petter-skogstad">Hans Petter Skogstad</a></h6> <p class="card-text mt-3"> <span class="font-weight-bold">Head of Research </span><br> <span class="font-weight-bold">Oslo, Norway</span><br> </p> <hr class=""/> <p class="font-weight-bold "> <a href="/api/GetVCard?personId={149AD482-1B85-4AD3-9867-A4E9888342E3}&vcn=HansPetterSkogstad"><i class="far fa-id-card"></i> Download VCard</a> </p> </div> </div> </div> <div class="col-lg-4"> <div class="card mix_person " onclick="location.href='/en/people/pal-s--corneliussen';"> <a href="/en/people/pal-s--corneliussen"> <img class="card-img-top image-resizing h-auto" alt="Paal S. 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Corneliussen</a></h6> <p class="card-text mt-3"> <span class="font-weight-bold">Art Director</span><br> <span class="font-weight-bold">Oslo, Norway</span><br> </p> <hr class=""/> <p class="font-weight-bold "> <a href="/api/GetVCard?personId={AE27C9E8-E71D-40E9-8854-AE3775BA62F7}&vcn=PålS.Corneliussen"><i class="far fa-id-card"></i> Download VCard</a> </p> </div> </div> </div> </div> <div class="row"> <div class="col-lg-4"> <div class="card mix_person " onclick="location.href='/en/united-states/people/terje-sorteberg';"> <a href="/en/united-states/people/terje-sorteberg"> <img class="card-img-top image-resizing h-auto" alt="Terje Sorteberg" src="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/emea/norway/people/terjesorteberg.jpg?rev=f225eb30304241da86ba3f61bc2684cb" width="564" height="343"/> </a> <div class="card-body"> <h6 class="font-weight-bold"><a href="/en/united-states/people/terje-sorteberg">Terje Sorteberg</a></h6> <p class="card-text mt-3"> <span class="font-weight-bold">Development</span><br> <span class="font-weight-bold">Oslo, Norway</span><br> </p> <hr class=""/> <p class="font-weight-bold "> <a href="/api/GetVCard?personId={4BF13D3F-1719-4AAF-9BE1-63741DCF41D8}&vcn=TerjeSorteberg"><i class="far fa-id-card"></i> Download VCard</a> </p> </div> </div> </div> </div> </section> <div class="card mix_padded "> <div class="card-body"> <div class="row no-gutters"> <div class="card-logo col-sm-12 col-xl-3"> <img class="image-resizing h-auto" alt="CW Realkapital" src="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/emea/norway/cw_realkapital_logo_colour.jpg?rev=4b4c9f8145064e8d9c1cabb76815089b" loading="lazy" width="273" height="280" /> </div> <div class="col"> <h5 class="card-title text-uppercase">MORE INFORMATION ON CUSHMAN & WAKEFIELD IN NORWAY</h5> <div class="card-text rich-text">View Norway's market data <a class="idcall" name="NorwayResearch">insight reports</a> or the <a class="idcall" name="PropertyListings">property listings</a> on the Cushman & Wakefield Realkapital's website<br /> <style> .idcall{ scroll-margin-top: 15em; } </style> </div> <a href="https://cwrealkapital.no/forretningsomrade/analyse/" class="btn btn-primary px-5 cta-generic-btn" title="View Insights" >View Insights</a> <a href="https://cwrealkapital.no/forretningsomrade/utleie-og-utvikling/" class="btn btn-secondary px-5 cta-generic-btn" title="View Properties" >View Properties</a> </div> </div> </div> </div> </section> <section class="container-fluid" style="" > <div class="hero mix_hero-prefooter js-hero"> <div class="hero-animation-container"> <div class="hero-prefooter-stripes"></div> </div> <div class="container"> <div class="row align-items-center"> <div class="col-lg-7 offset-lg-1"> <h3 class="text-uppercase">Can't Find What You Are Looking For?</h3> <div class="rich-text">Get in touch with one of our professionals.</div> </div> <div class="col-lg-2 offset-lg-1"> <a href="/en/inquire" class="btn btn-primary" >Contact Us</a> </div> </div> </div> </div> </section> <div class="cookiecontent">  <div id="banner_title" class="desc_text"> Your privacy matters to us </div> <div id="description_text" class="desc_text"> With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.<br /> <br /> Alternatively click on More Options and select your preferences before providing or refusing consent. 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