Colliers Denmark Market Report 2025

24

OFFICE - COLLIERS MARKET REPORT 2025

Office summary

TRANSACTION VOLUME DKK BILLION

In 2024, the Danish office investment market was still characterised by low activity, mainly due to economic uncertainty and a limited presence of foreign investors. Despite an increasing share of homeworkers, office vacancies in Denmark remain generally low due to the lower frequency of working from home. Copenhagen stands out with low office vacancy rates and strong growth in office employment. At the same time, construction activity here is significantly reduced - a phenomenon that intensifies competition for the most attractive leases. The office investment market is expected to regain momentum in 2025, driven by increasing interest from international investors. Mainly the most liquid assets, includ ing prime Copenhagen property, will be in demand.

7

4

DENMARK

GT. COPENHAGEN

Office transaction volume in Denmark, hereof Greater Copenhagen, DKKbn

SHARE OF TOTAL TRANSACTION VOLUME

14 % DENMARK 14 % GT. COPENHAGEN

GRÅT SKÆRES FRA

Office’s share of total transaction volume, Denmark and Greater Copenhagen, respectively, %

Prime office yield remains unchanged - secondary yields are on the rise

0% 1% 2% 3% 4% 5% 6% 7% 8%

SHARE OF FOREIGN INVESTORS

10 %

15 %

16

17

18

19

20

21

22

23

24

25

DENMARK

GT. COPENHAGEN

Aarhus C, prime Copenhagen, CBD, prime

Copenhagen, CBD, secondary Aarhus C, secondary

Note: Based on transaction volume for office in 2024, Denmark. Source: Erhvervsmæglernes Branchedata, Colliers

Note: Net initial yields, office. Source: Colliers