Colliers Aarhus Delrapport 2023 UK

Intro

Aarhus, the second largest city in Denmark, enjoys a central location vis-á-vis the urban centres of Jutland, only about one hour’s drive from Aalborg in the north, Herning in the west and the Triangle Region in the south. Jutland’s metropolis is thriving

The City of Aarhus (i.e. the municipality) has 362,000 in habitants, of which 15% are students, the highest student/ population ratio in Denmark. Furthermore, the city is lo cated in the heart of the Central Denmark Region (Region Midtjylland) with more than 1.3 million inhabitants. In the past decade, Aarhus has seen a population boom of 13% compared to the national average of approximately 5.85%. One of the drivers of this remarkable growth rate is a 31% increase in the ranks of students migrating to the city (20-29 year-olds), and a 13% increase in inhabitants aged 30 34, that is, young professionals. Mainly in the summer sea son, Aarhus sees a stronger influx of students, which is re flected in net migration patterns. Up until 2032, the number of inhabitants in Aarhus con tinues to grow, reflected in a growth forecast of 8% rela

tive to 3.5% on a national level. Unlike the historical growth rates, young families are expected to drive future popula tion growth, with a predicted 20% increase in the ranks of 0-4 year-olds and a 16% increase in 30-39 year-olds. Like the rest of Denmark, however, senior age groups continue to account for high percentage growth. Demographic changes will therefore be a key determinant of future Aarhus hous ing demand, provided forecasts prove correct. Despite the attractive offering of jobs in the City of Aarhus, it is not a given that 30-39 year-olds choose to remain residents here as residential supply and prices here and in neighbouring municipalities greatly dictate the extent to which the City of Aarhus can retain this age group. In other words, there are several factors that potentially affect future demographics in the municipality, and they may change from year to year.

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