Effective data management can enable the utilisation of new tools and technologies and, ultimately the creation of circular business models in the building industry. To accomplish this, a targeted mapping and collection of data must take place. However, several challenges hinder the exchange of information in a seamless digital flow through the value chain and building life cycle. This exploratory study contributes to bridging the gap in the research, providing an overview of existing barriers related to mapping, collecting, and storing data about materials and products in existing buildings. The findings are obtained through 18 semi-structured interviews with experts working with circular economy and digitalisation in the Norwegian AEC-industry. Some of the identified barriers, such as the lack of data availability and interoperability, lack of competencies and unwillingness to share data, are strongly interrelated; a collaborative approach will be essential across the value chain. The research sets the basis for developing a framework for data management that can facilitate the reuse of materials and products from a building at the end of life to new construction or refurbishment projects. Ultimately, effective data management opens for developing and implementing innovative circular business models, enhancing strategic data-based asset management.