Nordic occupiers face strategic choices in 2025

The Nordic office market, while outwardly stable, is undergoing structural changes that could have long-term consequences for occupiers. Hybrid work practices and sustainability targets are now widely accepted, but the way companies approach their real estate portfolios is creating a clear divide between those gaining strategic advantage and those falling behind.

One emerging trend is the increasing separation between high-quality, amenity-rich offices and lower-grade space. Well-located, ESG-certified properties with strong workplace experiences are commanding higher rents and maintaining occupancy, while secondary assets face growing vacancy and a “brown discount” in value. For employers, the choice of building has become a visible indicator of brand, culture, and appeal to skilled workers. Generic or outdated offices risk undermining recruitment and retention.

Sustainability is also moving from a compliance exercise to a measurable value driver. While environmental performance remains strong in the Nordics, there is a growing focus on the social component of ESG, including wellness, inclusivity, and community impact. Occupiers are increasingly expected to demonstrate concrete results through data such as energy use, air quality, and employee satisfaction, integrating real estate performance into wider corporate carbon accounting and net-zero strategies.

Technology is another area where occupiers can shift from a cost-control mindset to a more strategic approach. The adoption of IoT sensors, real-time occupancy tracking, and AI-enabled analytics is allowing companies to understand how their space is actually used and to adjust accordingly. This can improve operational efficiency, reduce underutilisation, and enhance the workplace experience. For many organisations, the challenge lies in bridging real estate, IT, and HR functions to ensure technology investment supports both business and people objectives.

In 2025, Nordic occupiers face a choice: treat real estate as a static cost to be minimised, or as a dynamic asset that can strengthen competitiveness, sustainability, and workforce engagement. The gap between these approaches is widening, with implications for both financial performance and market positioning.

Source: Christer Farstad, CBRE - Head of Occupier Advisory & Transaction Services in the Nordics
Photo: CBRE Nordics