A part of Watch Media

AMWatchFriday27 January 2023

  • Search
  • Log in
  • Fund Management
  • Pension
  • Responsible Investing
  • People
  • Search
  • Log in
  • Latest
  • Search
  • Log in
  • Fund Management
  • Pension
  • Responsible Investing
  • People
22/03/2018at 13:42

Nordea Real Estate calls for more transparency in Danish property market

The Danish real estate market lags behind Sweden in terms of transparency on prices and rent levels, according Nordea Ejendomme (Nordea Real Estate). This gap is becoming ever wider as property sales go unregistered in public records.
by JØRGEN BENDSEN

The Nordic countries offer attractive investment opportunities based on political stability, cheap financing and efficient case processing in the public-sector. This is particularly the case in Denmark, however, the country's proerty sector suffers from a lack of transparency regarding prices, returns and rent levels. This makes it difficult to benchmark investments against the market.

Henrik Steenstrup, Deputy Chief Executive of Nordea Ejendomme, the real estate arm of the Nordic financial group, made this assessment on Wednesday at a panel debate at this year's real estate convention Mipim in Cannes. The discussion was on why the Nordics generally offer more to investors than other regions are able to.

"The Swedish market is by far the most transparent in Scandinavia — ahead of both Denmark and Norway. One cause of the lacking transparency in Denmark is that properties have traditionally been owed by pension funds and other funds, from which it is difficult to get data. They don't want to release their data," said Henrik Steenstrup at the event hosted by the asset manager Catella. The event also included presentations by the Swedish real estate investment company Hemsö Fastigheter and the Finnish pension fund Varma

According to Henrik Steenstrup, investors are unnecessarily skeptical as a consequence of insufficient data on prices and required rates of return — they may even stay away and invest their capital elsewhere.

Gustav Björkman, Hemsö Fastigheter's Head of Investment agrees that real estate prices are more transparent in Sweden. He also thinks there is an increasing tendency for properties to be sold as corporate sales, where it is the equities or company shares that change owners, not the properties, which the companies retain.

Gustav Björkman predicts a decline in that trend. According to him, there is a political awareness that this shortcut around public records is being used too often, and this may result in tighter regulation.

Nordea Ejendomme has, according to Henrik Steenstrup, around EUR 3.4 billion in Danish assets, which are invested on behalf of Nordea's insurance branch Nordea Liv & Pension as well as other financial investors.

This article was published by AMWatch's sister sites FinansWatch and EjendomsWatch.

English edit: Daniel Frank Christensen

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

!
Newsletter terms

Front page now

Foto: Thomas Borberg/Ritzau Scanpix
Responsible Investing

Dane's equity holdings shrank by 9% in 2022

Danish investors’ total holdings of equities receded by DKK 57bn (EUR 7.7bn) over last year, new figures from Denmark’s central bank show.
  • Danes change pension companies more frequently than Swedes
  • AP Pension CIO craves more nuance in debate on alternatives

For subscribers

Foto: Shannon Stapleton/Reuters/Ritzau Scanpix
AMNews

Investors are missing earnings data after 2022 IPO collapse

For subscribers

Maunu Lehtimäki, CEO of Evli. | Foto: PR Evli.
AMWatch

Alternative sales grow and net flows start to stabilize at Finland's Evli

For subscribers

Speed is of the essence when launching new investment products, CFO Masih Yazdi says. | Foto: PR / SEB
Fund Management

SEB aims for speedy product launches to make up for huge AUM drop in 2022

For subscribers

Karl C. W. Mathisen fills position as CEqO at Folketrygdfondet on Feb. 1. | Photo: Folketrygdfondet
People

Folketrygdfondet finds new head of equities in own ranks

For subscribers

Michael Probst/AP/Ritzau Scanpix
Responsible Investing

Global clean-energy investments match fossil fuel for the first time

For subscribers

Further reading

Storebrand Fonder CEO Åsa Wallenberg considers sustainability a guiding principle for the company. | Foto: Fredrik Hjerling
Fund Management

Storebrand Fonder provides more than three-quarters of Swedish fund inflow

The fund manager contributed the lion’s share of net inflow to the Swedish fund market last year – SEK 14.5bn of a SEK 19bn total. Sustainability is the key to the company’s investment policy.

For subscribers

Archive. Financial district Barcode in Bjørvika, Oslo. | Photo: Jörgen Skjelsbæk
Fund Management

Here is how Norwegian fund managers performed in 2022

Assets under management from Norwegian-registered fund managers fell by almost 8.2% in total in 2022, but differences among individual managers are vast.

For subscribers

Maunu Lehtimäki, CEO of Evli. | Foto: PR Evli.
AMWatch

Alternative sales grow and net flows start to stabilize at Finland's Evli

In 2022, the sales of Evli’s alternative investment products saw notable growth with fee income from this product range increasing by 50%. CEO Maunu Lehtimäki evaluates the company’s annual results.

For subscribers

Latest news

  • Investors are missing earnings data after 2022 IPO collapse – 15:07
  • Dane's equity holdings shrank by 9% in 2022 – 14:48
  • SEB aims for speedy product launches to make up for huge AUM drop in 2022 – 10:42
  • Alternative sales grow and net flows start to stabilize at Finland's Evli – 10:27
  • Folketrygdfondet finds new head of equities in own ranks – 09:37
  • Global clean-energy investments match fossil fuel for the first time – 07:50
  • Here is how Norwegian fund managers performed in 2022 – 26 Jan
  • Morgan Stanley fines its bankers over messaging breaches – 26 Jan
  • Slight recovery in SEB’s AUM in fourth quarter – but outflow continues – 26 Jan
  • Deutsche Bank fund unit doubles down on ETF target amid outflows – 26 Jan
See all

Jobs

  • PenSam søger en jurist med interesse for den finansielle sektor

  • Porteføljemanager til danske ejendomme i PenSam

Watch Jobs

  • Head of Business Development

  • Revisor med minimum et par års erfaring

  • Regnskabs-/økonomichef

  • People and Operations Partner

  • Tilbudschef - NCC Renovering Vest

See all jobs

Jobs

  • PenSam søger en jurist med interesse for den finansielle sektor

  • Porteføljemanager til danske ejendomme i PenSam

See all jobs

Colophon

AMWatch
Search

Sections

  • Fund Management
  • Pension
  • Responsible Investing
  • People
  • Sitemap
  • RSS feeds

Editor

Anne Louise Houmann

alh@amwatch.dk

Tel.: +45 2830 5142

Editor-in-chief

Anders Heering

Publisher

JP/Politiken Media Group Ltd

Advertising

annoncering@infowatch.dk

Tel.: +45 7077 7491

Advertising

Job Advertising

job@infowatch.dk

Tel.: +45 7077 7491

Jobs

Subscription

Try AMWatch or get an offer for a subscription meeting the exact needs of you or your company.

amwatch@infowatch.dk

Tel.: +45 7077 7491

Learn more about subscriptions here

Address

AMWatch

Rådhuspladsen 37

1785 Copenhagen K, Denmark

Tel.: +45 3330 8382

Guidelines

  • Privacy Policy

Copyright © AMWatch — All rights reserved

Microsoft is in the process of discontinuing Internet Explorer – and so are we.
For a better experience, we recommend using one of the following browsers.

Kind regards,
AMWatch

Google ChromeMozilla FirefoxMicrosoft Edge