Every ninth office is vacant in Stavanger

Office Office.Photo: pixabay.com

In Stavanger and the surrounding region there are 11.3% of vacant office space available, which means that every ninth office is vacant.

The figures for the entire region comes from DNB’s recent market report, but in some areas it is even worse, writes the newspaper Stavanger Aftenblad.

In Jåttåvågen, 20% or one fifth is vacant. In Forus there are a total of 145,000 square meters of vacant office space available, which equals 60% of the vacant offices in the Stavanger area.

In the downtown areas, the situation is better. Less than 5% of the offices in Stavanger and Sandnes are without tenants.

– In the center of Stavanger and Sandnes the vacancy is lower than other cities, such as Bergen and Trondheim.

In areas that are struggling, it is largely due to the oil related businesses, says analyst Magnus Havikbotn Jacobsen in DNB Commercial Real Estate, who finds the large differences very interesting.

He thinks there will be even more vacant premises throughout the year. Jan Inge Røyland, Manager of Commercial Real Estate in SR-Bank, doesn’t believe that there will be an improvement in the immediate future.

In my opinion, I think we’ll see a continued high vacancy of office space during 2017 and 2018. It will depend on how developments in the regional economy will be in the upcoming months and years.


Source: NTB scanpix / Norway Today