Colliers København Delrapport 2023 UK

9

Historically low office vacancy rates

10% 11% 12% 13% 14% 15%

4% 5% 6% 7% 8% 9%

12

13

14

15

16

17

18

19

20

21

22

CBD

Greater Copenhagen

Capital area

Note : Vacancy rates, office, Copenhagen. Source : Colliers, Ejendomstorvet.dk.

Copenhagen Local market report to Colliers Market Report 2023

European metropolises. Demand in the invest- ment market for office property was record- high in 2021; held together with the change in market conditions and heightened caution in 2022, it was anticipated that demand would cool off slightly as 2022 wore on. However, demand remains strong, although the buyside is now in a better position to dic tate transaction terms. Massive capital place ment requirements also remain intact among domestic and international investors alike, with the latter now expected to zoom in on non-CBD office properties, which may be ex plained by the stronger appeal of non-CBD locations due to improved infrastructure and urban densification. Between 2018 and start-2022, yield require ments for prime and secondary office prop erties have compressed, both in and around Copenhagen. However, stricter financing re quirements, heightened caution in response to a changeable market along with record-low re turns have driven up yield requirements in 2022.