Colliers Denmark Market Report 2024

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OFFICE - COLLIERS MARKET REPORT 2024

Marmormolen Marmorvej 1, Copenhagen Ø

Discerning tenants demand energy-efficient properties

Vacancy rates in Copenhagen and Aarhus have been declining in the aftermath of the coronavirus pandemic and are now at 6.10% in Copenhagen and 7.24% in Aarhus (Q4 2023). The vacancies that still exist, however, mainly include outdated properties that do not meet the demands of more discerning tenants. We are increasingly seeing tenants actively opting out of leases without a sustainability certificate. This new demand has emerged as a result of an increased focus on ESG and corporate social responsibility. Many compa nies are investing in improving their sustainability pro file – both to help meet politically set climate goals and because it can be a competitive advantage vis-à-vis cus tomers and employees.

With a workforce that is increasingly dominated by smaller generations, we expect ESG policy to become a more important part of corporate branding and also a key factor in how companies can attract workers from the new, sought-after generation. As the demand for certified leases grows, we expect to see an increasing difference in the potential rent for certified and non-certified leases. At the same time, property owners with outdated properties risk experi encing longer vacancy periods unless the premises are energy retrofitted.