Key figures

Q1 2021

Market players from across the country are active in the Stavanger region. read more

As in the other major Norwegian cities, the transaction market quickly recovered in the Stavanger region after a brief slowdown in connection with the coronavirus pandemic. We reduced the prime yield to 4.75 per cent during the second half of 2020. The sale of the Stavanger shopping centre Herbarium – which was completed in the third quarter of 2020 when pricing was even sharper – contributed to the fall in yield. Nevertheless, the differences between Stavanger and other Norwegian cities, especially Oslo, have never been greater.

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Offices with a high standard, best location, 7 years weighted remaining rental period, market rent and secure tenants.

Prime Yield


We assume a seven-year weighted remaining lease period, and therefore estimate that longer leases can be traded even lower.

Offices with ordinary standard, located in one of the office clusters outside the city center, 4-5 years weighted remaining rental period, market rent and ordinary companies as tenants.

Secondary yield


Normal yield is meant to reflect an average office property. We have defined it to be an office property with 4–5 years left of the lease contract, an OK location.

Number of transactions> NOK 50 million

Transactions in 2021


The number of transactions indicates the number of transactions with a minimum value of NOK 50 million in Stavanger.

Annual transaction volume measured in NOK billion.

Transaction volume


The transaction volume indicates the total property value of the transactions made, with a minimum value of NOK 50 million.

Office space offered in the market and available within 12 months.


(per cent)

Office vacancy in Stavanger is 13,4 %.

Office rental market

Q1 2021

Overall, there are high vacancy rates in the office rental market in Stavanger, and the Forus area still accounts for most of the available premises. The vacancy rate in the city centre has also risen over the past year, but as this is a relatively small office area, just a few office premises have a large impact on the vacancy rate here. Office rental prices in the region have remained relatively stable over the past year. Despite strong competition for tenants, especially at Forus, the best office spaces in the city centre have in recent years achieved rental prices of more than NOK 3 000 per square metre per year. read more

Over the past six months, the office vacancy rate in the Stavanger region has risen marginally. The market is not characterised by large premises for subletting, and rental prices have remained stable through the coronavirus pandemic. Several large tenants are about to move to new locations.


Downtown Stavanger has a wider choice of available office premises than a year ago, but the high vacancy rate in the city centre must be seen in light of the fact that it is a small office area, which means that individual premises have a significant impact on the vacancy rate. Rental prices in the city centre have remained stable in the period, despite the rising vacancy rate.


Outside the city centre, the vacancy rate has risen somewhat in the industrial area called Jåttavågen, and here, the vacancy in square metres is moderate. The Hinna Park project is achieving significantly better rental prices than nearby Forus. Access to railway links and city-like qualities help make the area attractive.


The vacancy rate at Forus has levelled off and in the past year, some vacant premises in prime locations have been filled. Prior to the coronavirus-related slowdown, rental prices at Forus appeared to be rising slightly, but good office premises can still be found at prices as low as NOK 1 000 per square metre. The co-working concept FOMO is working to fill 30 000 square metres of office space at Forus with creative tenants across companies – an example of innovation in a challenging office cluster.


In our view, the office market in the Stavanger region will continue to be characterised by an excess supply of premises in the next few years, but we have seen that there is a willingness to pay for the most attractive premises. The highest rental prices in Stavanger are on a par with those in Bergen and are only beaten by the best Oslo locations.

Click headings to sort table
Click the rows for more information about the area
AreasA - Å High standardHigh - Low Office vacancyHigh - Low
Risavika 1000 - 1300 0 %
Sola 1000 - 1300 12 %
Randaberg 1000 - 1300 0 %
Sandnes Randsone 1000 - 1300 0 %
Sandnes Sentrum 1200 - 1600 10 %
Dusavik 1000 - 1300 44 %
Stavanger Sentrum 2000 - 3000 16 %
Forus/Lura 1000 - 1300 17 %
Jåttåvågen 1600 - 2000 10 %
Stavanger Randsone 1100 - 1500 10 %

Rental prices
Top rent
High standard -
Office vacancy pr. %
Construction ()

Transaction market

Q1 2021

Most of the buyers in this region are from outside Stavanger. Transactions are spread across a number of segments, but the largest transactions in 2020 were all mainly related to office premises. read more

We registered a transaction volume in the Stavanger region totalling approx. NOK 5.3 billion in 2020. By comparison, the average transaction volume over the past five years has been just over NOK 6 billion annually. However, the number of transactions was close to average.  As usual, most of the purchases were made by investors from outside Stavanger. Local market players are often on the lookout for development properties, and accounted for less than 10 per cent of the transaction volume in 2020.

Last year’s largest transaction was the sale of Herbarium, where Øgreid Eiendom sold its newly developed office and commercial property in Stavanger city centre. DNB Markets, assisted by DNB Næringsmegling, facilitated the transaction when Oslo Pensjonsforsikring secured the property at a price well below our defined prime yield of 4.75 per cent. Herbarium also had a longer remaining term than our definition of prime yield, which is based on 7 years’ remaining lease contract.

In recent years, we have registered transactions in the Stavanger region in a wide range of segments and spread across the entire risk scale. That was also the case last year, but the largest transactions were all mainly related to office premises.

We estimate the prime yield for office premises in Stavanger to be 4.75 per cent. However, the interest rates, which fell sharply throughout last year, have recently risen considerably. At the same time, there is also strong demand for secure cash flows. In the Stavanger region, there is generally only a limited number of properties in Stavanger city centre that will be able to achieve prime yield or better.


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