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Stockholm Office Space Guide

[Updated Oct 2020]A guide to serviced offices and office space for rent in Stockholm as well as general information that may be useful if you are thinking of renting office space in the city.

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History & Geography

The capital of Sweden is also the most densely populated area in Scandinavia and a regional economic hub. Located on 14 separate islands on the south-central east coast of the country at the mouth of Lake Malaren, the city is perfectly strategically located. The centre of the city is on Riddarfjarden Bay and over 30 percent of the Stockholm is waterways, with another 30 percent made up of parks. The city was founded in 1250 by Swedish nobleman Birger Jarl in order to defend the rest of Sweden from foreign fleets. It was because of the Bergslagen iron mines that Stockholm first became prominent. The city was also helped by the proximity of the Baltic Sea, and trade with Hanseatic League of merchants out of Hamburg, Lubeck and other northern ports ensured the city flourished. As Sweden grew into a major European power in the 17th century, so too did Stockholm gain in importance and power. The city became the centre of the Swedish Empire and its population multiplied sixfold. However the in 1710 a plague decimated the city, and with the advent of the Great Northern War, a conflict involving Sweden, Russia, Poland and Denmark, the city’s economic and population growth slowed drastically. However by the mid-19th century, the city had regained its prominence and its population swelled once more, mainly due to a high number of immigrants. In the 20th century, Stockholm continued its prosperity and became a technically advanced, modern city.

Green city

Stockholm is one of the most eco-friendly cities in the world. In 2010 the European Union Commission granted the city the European Green Capital Award, making it Europe’s first green capital. The city is surrounded by 219 nature reserves and has approximately 1,000 green spaces. Its Royal National City Park is the world’s first legally protected “national urban park”. Moreover, the government has set the goal of having only clean vehicles in the city by the end of 2011.

 Economy

The service industry accounts for approximately 85 percent of jobs in Stockholm. Heavy industry and manufacturing are almost non-existent, which helps the city keep up its reputation as one of the cleanest metropolises in Europe. The tech industry is also very predominant in the city, with IBM, Ericsson and Electrolux all being major employers in Stockholm. The city is also the financial services and banking centre of the country. All the major Swedish banks have their headquarters in Stockholm, including Swedbank, Handelsbanken, and Skandinaviska Enskilda Banken. Swedish clothing giant H&M also has its headquarters in the city. Recently tourism has become a major industry in Stockholm.

Tourism

Between 1991 and 2004 overnight stays in Stockholm rose from 4 to 7.7 million. Most of the city’s tourists come from nearby Europe. Much of the appeal of Stockholm is aesthetic. With its multitude of waterways the city has an open and healthy feel to it. The architecture of Stockholm also contributes to its popularity. The Gamla Stan area is the oldest section of the city and features a medieval street layout and several buildings from the 15th century. In the 1930s a wave of modernism swept the city and many of its buildings are from this period. Museum lovers will also like Stockholm, as it has more museums than almost any other city in the world. The most famous is the Nationalmuseum, which boasts 16,000 paintings and 30,000 art objects. Also worth a visit is the Royal Coin Cabinet, which tells the history of money. For food lovers, the city has over 1,000 restaurants, and due to Sweden’s high levels of immigration, almost every taste can be catered for. The city also has a lively nightlife, though alcohol is notoriously expensive, and not served to those under 20 years of age. Stureplan square and its surroundings is the most popular nightlife destination in Stockholm, boasting a plethora of bars and clubs.

Transportation

Stockholm has a very extensive public transportation system, but visitors should bear in mind that it is among the most expensive in the world. It is mostly made up of the Stockholm Metro, the urban rail systems the Roslagsbanan and the Saltsjobanan, a tramway, and the Stockholm commuter rail. The city also has a large bus network and a boat line called the Djurgardsfarjan. All the land-based public transport in the city is handled by the Storstockholms Lokaltrafik which has a common ticket system which makes transferring between modes of transport easy. Stockholm-Arlanda Airport is the biggest and busiest in the country and located approximately 40 kilometres from the city. An express rail link runs between the airport and the city.

Office space in Stockholm

Like every other major city in Europe, Stockholm has struggled in the wake of the global financial crisis. The rise in unemployment in the city has been fairly substantial, though lower than the rest of the country. Despite this rents have fallen only slightly. There have been signs of recovery in the labour market of late, however, which will mean a rise in demand for office space. The current office space vacancy rate in Stockholm is 12 percent, however, this is not expected to rise as a lot of unused space is being let by companies who will release it back onto the market once the leases expire. In the central business district, the vacancy rate is only 8 percent. The most desired area for office space remains the so-called ‘Golden Triangle’ consisting of the Norrlandsgatan, Birger Jarlsgatan and Hamngatan roads. Another popular area for office space is around the central train station in the west of the city. There is a plethora of newly-built buildings and renovated office space in this area.

We carry out a free office space search and our advisory and acquisition services are also free, always. Our Stockholm office space brokers and agents are globally regulated by the Royal Institution of Chartered Surveyors (RICS) ensuring the highest standards of commercial property advice and service at all times. We look forward to helping you find the best office space for rent for your business.

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The Office Providers are Regulated by the Royal Institution of Chartered Surveyors (RICS)

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