Colliers Denmark Market Report 2024

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Colliers Markedsrapport 2023 COLLIERS MARKET REPORT 2024

RESIDENTIAL REMAINS THE LARGEST SEGMENT

16 % Office 41 % Residential 13 % Retail 25 % Industrial & logistics

Despite low activity, international investor interest remains intact In recent years, international investors have accounted for slightly more than half of transaction volumes. In 2023, it is therefore notable that international investors only account for 33% of total transaction volume. This decrease is due to general caution in the market, which has been more pronounced in terms of the large deals that have been dominated by foreign investors in pre vious years. In addition, there have not been many dis tressed sellers in Denmark, which has led foreign inves tors to take advantage of opportunities in other markets where there have been larger price corrections. For example, both the Swedish and German markets have experienced greater price fluctuations than Denmark. However, the limited activity of foreign investors in the Danish market does not mean that interest has disap peared. Foreign investors are therefore expected to return in 2024 as prices stabilise. By 2023, the mismatch between buyers’ and sellers’ price expectations has been reduced and investors can see signs that the interest rate peak has been reached. With the increased transparency in the market due to renewed activity and the improved framework conditions of lower interest rates and higher loan-to-value ratios, Denmark is expected to remain an attractive market for international investors.

3 % Hotel 2 % Other

DOMESTIC INVESTORS PREDOMINATE THE MARKET

33 % INTERNATIONAL

67 % DOMESTIC

CORE ASSETS CONTINUE TO DRIVE THE MARKET

66 % Core 21 % Value-add 4 % Opportunistic 9 % User

Note: Total transaction volume 2023, Denmark, by segment, investor origins and risk profile. Please note that the figure quoted for retail in the top figure has been rounded from 12.5%, with the “Other” category therefore quoted as being 2%. Source: Colliers

TOP 5 transactions | All segments

PROPERTY

LOCATION

SELLER

BUYER (COUNTRY)

TYPE

SQ M PRICE 1

ENERGY LABEL

Codanhus & Kalvebod Brygge 32

Frederiksberg & Copenhagen V

Corem Property

AP Ejendomme (DK)

Office

61,000

~2,500 2

A2010 & A2015

Hedelandsvej 28B-C

A2015

Hedehusene

Allianz Real Estate Ikea (SE)

I&L

133,000

~1,800 2

Rema 1000 portfolio 3

AKA, Reitan Ejendom & AS Straen (NO)

Retail

na 4

All Denmark

Rema 1000

~1,800 5

Multiple

Køhlers Have

Copenhagen SV NREP

CapMan (FI)

Residential

28,500

1,240

A2015

For-profit assisted living portfolio 3

Zealand & Funen NREP

Northern Horizon (FI)

Residential

40,800

~1,225 2

Multiple

Note: 1 Prices quoted in DKK million (rounded figures). 2 Indicative due to confidentiality. 3 Portfolio sale. 4 64 assets, sale-leaseback. 5 Estimated. Source: Colliers