The Swedish population will grow by 6.6% until 2030. As the population aged 64+ will grow 14%, the need for investment in public sector properties will increase dramatically. On the back of strong office employment growth and modest near-term supply, we believe rental growth in the office sector will continue in 2020, but at a slower pace. For retail and logistics, convenience will continue to be key, whether it concerns fast deliveries or opening stores in transport hubs. Experiential Instagram-friendly environments will help drive footfall.

For the residential sector, construction will continue to be sluggish in 2020. Investor interest in the sector will continue to be high in 2020 due to the stable risk-adjusted returns.