Colliers Market Report Denmark 2023

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Residential - Colliers Market Report 2023

Deteriorating conditions potentially mean fewer completions than pipeline suggests

Completions 2017-2021 1

Pipeline 2023-2025²

Demand 2023-2025 3

Copenhagen

506,000

386,500

285,000

Aarhus

331,000

238,500

163,500

Triangle Region

315,000

158,000

174,500

Odense

141,500

104,500

54,000

Aalborg

201,500

76,000

95,500

Note: 1 Annual average residential completions, sq m, ²Estimated annual average planned resi dential newbuilding, sq m, based on data from Byggefakta. 3 Estimated average residential demand based on population forecast and average area requirement, sq m. Source : Byggefakta, Statistics Denmark, Colliers

Soaring prices of building materials driving up residential construction costs

125

120

115

110

105

100

95

20

21

22

Costs, materials

Costs, labour

Note : Construction cost index, residential, index 100 = 2020. Source : Statistics Denmark, Colliers