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the commercial real estate brand barometer Norway 2015

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The 2015 results

This is the public part of the survey measuring and ranking the leading commerical real estate companies in the greater city areas of Oslo, Stavanger, Bergen and Trondheim. The ranked companies are measured by four indicators, Familiarity, Proficiency, Assumed Customer Satisfaction and Place to Work. Together they make a Total Brand Strength.

All Brands - 2015

Place Company Score
1
0 GC Rieber Eiendom 74
2
3 E.C. Dahls Eiendom 72
3
6 Aspelin Ramm 72
4
-2 Eiendomsspar 71
5
4 Olav Thon 71
6
10 Kjeldsberg Eiendom 71
7
-3 Akershus Eiendom 70
8
-1 Reitan Eiendom 70
9
11 Selvaag 69
10
6 KLP Eiendom 69
11
8 Eiendomsmegler 1 69
12
0 Koteng Eiendom 69
13
-2 Smedvig Eiendom 68
14
4 Hinna Park 67
15
11 OBOS Forretningsbygg 66
16
10 Statsbygg 65
17
-11 Øgreid Eiendom 65
18
4 Höegh Eiendom 65
19
-4 Avantor Eiendomsforvaltning 65
20
-3 DNB Næringseiendom 65
21
6 DNB Næringsmegling 64
22
6 Union Norsk Næringsmegling 64
23
-5 Odfjell Eiendom 64
24
2 Norion Næringsmegling 64
25
11 Pecunia Eiendom 64
26
-14 Entra 63
27
14 Søylen Eiendom 63
28
0 Stor-Oslo Eiendom 63
29
4 Trondheim Kommune 62
30
0 Oslo S Utvikling 62
31
6 Kyte Næringsmegling 62
32
0 Ferd Eiendom 62
33
-15 Norwegian Property 62
34
20 Ragde Eiendom 61
35
-7 Storebrand Eiendom 61
36
2 Malling & Co 61
37
11 Seabrokers Group Eiendom 61
38
-19 Bara Eiendommer 60
39
0 Mustad Eiendom 60
40
0 NHP Eiendom 60
41
-8 Rom Eiendom 60
42
0 Linstow 60
43
-11 Realinvest 60
44
-12 Frydenbø Eiendom 59
45
-3 Braathen Eiendom 59
46
0 Anthon B Nilsen Eiendom 59
47
-10 HAV Eiendom 59
48
-2 Trondheim Havn 59
49
0 Skanska Eiendomsutvikling 59
50
-9 DTZ 59
51
-9 Basale 58
52
3 Møller Eiendom 58
53
-5 Newsec 58
54
0 Arctic Securities 58
55
0 Schage Eiendom 57
Place Company Score
56
4 Fram Eiendom 57
57
-7 Aberdeen Asset Management 56
58
0 Oxer Eiendom 56
59
0 Telenor Eiendom 55
60
-11 Base Property 55
61
-12 K2 Stavanger 55
62
0 Masiv Eiendom 55
63
-21 Oslo Areal 55
64
0 Pangea Property Partners 54
65
0 Colliers International 54
66
0 Bertel O. Steen Eiendom 54
67
15 Stadsporten 53
68
-26 Trallfa Eiendom 53
69
-12 Zurhaar & Rubb 53
70
-25 Innovasjonspark Stavanger 52
71
6 EGD Property 51
72
-14 Hadrian Eiendom 51
73
-8 Sparebank 1 Gruppen, Eiendom 51
74
5 Backer Holding 51
75
0 Nordea Liv 51
76
-14 Fana Sparebank Næringsmegling 50
77
-18 Bryn Eiendom 50
78
0 Vika Eiendomsutvikling 50
79
0 IKM EIendom 49
80
4 ISS ForvaltningsCompagniet 49
81
0 Bulk Infrastructure 49
82
0 AVA Eiendom 48
83
-12 Tjelta Eiendom 48
84
-10 Aker Eiendomsdrift 48
85
-17 kaph Næringsmegling 47
86
5 Bergen Eiendomsforvaltning 47
87
0 60 Grader Næringsmegling 46
88
-10 Bergen Næringsbygg 46
89
0 Heilo Eiendom 46
90
-18 NAI FirstPartners 46
91
0 MNG Holding 45
92
0 Technopolis 45
93
-26 Atrium CBRE 45
94
0 Persen Skei 45
95
-8 Realia 45
96
-9 Norinvest 44
97
0 AB Eiendommer 44
98
0 Realforum 43
99
-11 Creto Megling 43
100
-25 Rasmussen Eiendom 43
101
-16 Fortin Properties 42
102
-10 Realist Næringsmegling 42
103
-11 Midgardgruppen 42
104
-20 Real Eiendomsmegling 41
105
-11 Moment Eiendom 40
106
-14 Befas Næringsmegling 39
107
-20 Areal Eiendom 39
108
0 ArealPartner Næringsmegling 38
109
-47 GVA CRE Norway 36

Oslo Top 5 - 2015

Place Company Score
1
2 Aspelin Ramm 72
2
-1 Eiendomsspar 71
3
1 Olav Thon 71
4
-2 Akershus Eiendom 70
5
4 Selvaag 69

Trondheim Top 5 - 2015

Place Company Score
1
0 E.C. Dahls Eiendom 72
2
4 Kjeldsberg Eiendom 71
3
5 Eiendomsmegler 1 70
4
-2 Reitan Eiendom 70
5
-2 Koteng Eiendom 69

Bergen Top 5 - 2015

Place Company Score
1
0 GC Rieber Eiendom 74
2
0 Entra 66
3
4 DNB Næringsmegling 65
4
-2 Odfjell Eiendom 64
5
2 DNB Næringseiendom 64

Stavanger Top 5 - 2015

Place Company Score
1
2 Smedvig Eiendom 68
2
2 Hinna Park 67
3
2 Eiendomsmegler 1 66
4
-2 Øgreid Eiendom 65
5
5 Seabrokers Group Eiendom 61

Top Realtors Oslo - 2015

1
Akershus Eiendom
70
2
Malling & Co
68
3
DNB Næringsmegling
66
4
Union Norsk Næringsmegling
64
5
DTZ
59
6
Arctic Securities
58
7
Newsec
58
8
Pangea Property Partners
54
9
Colliers International
54
10
Hadrian Eiendom
51
11
NAI FirstPartners
46
12
60 Grader Næringsmegling
46
13
Heilo Eiendom
46
14
Atrium CBRE
45
15
Persen Skei
45
16
Realia
45
17
Realist Næringsmegling
42
18
Real Eiendomsmegling
41
19
Moment Eiendom
40
20
ArealPartner Næringsmegling
38
21
GVA CRE Norway
36

MAJOR BRAND FINDINGS

Most commercial real estate brands are falling

There has been a significant drop in scores from 2014 to 2015. The average total brand score is now 55.9, compared to last year's 57.2 and this year's winner comes out at 73.6, down from 78.7. The bottom score has fallen less, going from 36.6 to 36.3. Note, however, that several of the weakest brands of 2014 were not included in this year's survey.

Strong parent brands

Commercial real estate companies that are, or are perceived to be, part of a wider, strong, non-industry brand often benefit significantly from their parent brand. For example: DNB, GC Rieber, KLP, Smedvig, Reitan.

Many strong local brands

Real estate is local. The same goes for commercial real estate brands. Numerous companies are only present in one geographic market, but have very good brand scores. We also see this in how companies active in multiple markets often have greatly varying scores between regions. Examples include GC Rieber, DNB, NPRO, Basale.

Size and familiarity

There is a positive correlation between how well a company is known and how positively it is regarded. It is rare for a company with a low familiarity score to do well over all.

Clear national leader

GC Rieber Eiendom defends its positions from last year. In their market, they have a uniquely strong position, even though their score is down five points.

Personalities

Having a leader, owner or other figurehead who is widely known within the industry or more broadly, contribute to the company brand. Examples: Olav Thon, Eiendomsspar and Reitan Eiendom and subsidiaries.

Malling and Union are catching up to Akershus

The long-term growth of Eiendomshuset Malling & Co has them quickly closing in on Akershus Eiendom. Last year's seven point difference is now down to two, as Akershus falls three points and Malling gains two. Looking at brand strength among commercial real estate professionals only, a group who tends to be friendlier to the company than the survey's other respondents are, Union Norsk Næringsmegling has reduced Akershus' eleven point lead to two.

A handful of market leaders

Apart from Bergen being solid for GC Rieber Eiendom, the other three cities all have a handful of companies contending for the top score. In Stavanger, only 2.6 points separate Smedvig, Hinna Park, Eiendomsmegler 1 and Øgreid, whilst Seabrokers at fifth place is another 5 points down. In Trondheim there are six or seven that spearhead the ranking, with E.C. Dahls Eiendom leading the pack. In Oslo, by far the biggest market for most CRE brands, the quartet of Aspelin Ramm, Eiendomsspar, Olav Thon, and Akershus Eiendom still take the top four places, now edging fifth scoring Selvaag by 1.5 points. GC Rieber Eiendom's total brand strength at 79 points is 13 points ahead of their closest competitor in Bergen while Akershus Eiendom is 8 points ahead of the number two realtor, not just in Oslo, but in every measured market.

OTHER FINDINGS

Rent levels are going down

Commercial real estate professionals in all markets think a drop in rent levels is most likely. The Stavanger-market is especially bearish, dropping from last years -4 to -14. The biggest drop is in Oslo, going from +9 to -4, now drawing with Trondheim which falls ten points from +6. Bergen has the smallest decrease, but coming from a barely positive +3, still ends up second worst at -6.

But real estate values are still up

Except for Stavanger, where the respondents think real estate values are ripe for a fall (-8), Oslo (+5), Trondheim (+3) and Bergen (+2) expect to see a slight increase.

Employment opportunities expected to be quite good

Most commercial real estate companies expect to somewhat increase their total staff size over the next year.

The industry's employee satisfaction recedes

The average industry employee satisfaction is now 75.3, loosing 1.1 point from last year. In Stavanger, satisfaction has decreased with 8 points since 2013, now at 71.

Divided on car free city centes, but not in Trondheim

Bergen, Stavanger and Oslo are almost neutral, scoring respectively -2, -3 and -4 on the question of car free city centers. Trondheim, at -17, is clearly weighing in for cars between their river.

Environmental regulations are too strict

Commercial real estate professionals in all four cities agree that the current environmental regulations are too strict, with Oslo (+5) being closest to neutral, and Bergen (+13), Stavanger and Trondheim (both +11) notably less positive to the current regime.

What is the Commercial Real Estate Barometer

NE annually conduct a widely distributed digital survey, inviting more than 30.000 industry and allied industry professionals to share their view on a set of questions relating to two separate topics.


1. What do those in and close to the industry think about the leading property owners, managers, developers and brokers.


2. What do commercial real estate professionals think about the outlook for the next twelve months in their geographical market.


In the 2015 survey, we got ~2300 respondents, of which a bit more than half are commerical real estate professionals. These include industry executives, commentators and thought leaders, politicians as well as industry suppliers and partners.

Morten Olaisen
CEO
Tlf: 907 65 221
Contact morten eadff7a01bf11f863cc588f35503144f5c6428fc968d08c590216fb3c3465e48