JLL publishes new Nordic Outlook report: What does the future of work hold?
The real estate industry, both in the Nordic countries and globally, is continually confronted with new challenges arising from geopolitical tensions, climate considerations, and social demands. This has an impact on the future of work, which is facing uncertain times, and questions about work methods are more relevant than ever. The theme article in the first Nordic Outlook report of the year explores work methods, based on JLL’s Global Future of Work study.
JLL is one of the world’s largest real estate companies, with a revenue of DKK 147 billion and over 106,000 employees across more than 80 countries. In addition to the theme article, the report offers a comprehensive analysis of the Nordic real estate markets, with EDC Poul Erik Bech providing market data and insights for the Danish section of the Nordic Outlook report.
Joseph Alberti, Head of Research at EDC Erhverv Poul Erik Bech, says: “This edition of Nordic Outlook explores the future of work and the various approaches to hybrid working in the Nordic countries. Nearly half of companies in Sweden have a full five-day office workweek, the highest rate in Europe. Finland adopts a more flexible approach, with only a third of companies requiring employees to work five days a week from the office. In Denmark, hybrid work has also become a common practice for many companies, with Denmark aligning more with Finland than Sweden.”
Recommendations for the future of work
The theme article highlights several recommendations on how to ensure a smooth transition to the future labor market. While Denmark is heading in the right direction, there is still some way to go, predicts Helle Nielsen Ziersen:
“In Denmark, we are generally in a good place, and the shift toward a more flexible everyday life with increased hybrid working is already taking shape. At the same time, the office real estate market is evolving, with office environments being optimized and coworking spaces gaining momentum. AI and technological solutions are set to enhance productivity and contribute to employee well-being. There will continue to be significant developments in this area over the coming years.”
“Finland is falling behind in making the office more attractive to employees, as remote work is more preferred there. In Sweden, flexibility and remote work are not as widespread as in the rest of the Nordic countries, and it’s probably more of a cultural issue than anything else. Generally, across all countries, there should be even more investment in AI and technology to upgrade property management and ensure that the future of work is flexible, sustainable, and technological, including in Denmark,” points out Helle Nielsen Ziersen.
Denmark is an attractive market
Despite a world where geopolitical uncertainties are increasingly significant, Denmark has managed to navigate through a few tough years. A few major transactions at the end of last year led to an increase in transaction volume for 2024 compared to 2023.
Helle Nielsen Ziersen says: ”Despite global economic uncertainty, the Danish commercial real estate market remains strong. Despite challenges such as rising costs and shifting tenant preferences, investment activity is supported by the country’s stable economy, an increased focus on sustainability, and growing demand for modern, high-quality properties.”
With a solid foundation and an increasing focus on green and innovative solutions, Denmark continues to be well-positioned in the Nordic commercial real estate market. We are seeing growing interest in investment properties in Denmark, particularly residential and warehouse/logistics properties, which are in high demand. The gap between buyers and sellers has narrowed over the past year, so the expectation is that 2025 will maintain this positive momentum,” says Helle Nielsen Ziersen.