Colliers Market Report Denmark 2023

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Industrial & logistics - Colliers Market Report 2023

Strong occupational market despite first-ever drop in online sales 2022 was another year of record-low vacancy rates and rising rent levels. The combination of extraordi nary demand and moderate newbuilding has made users and investors leave established industrial/logis tics locations, moving further afield. In the market for industrial/logistics facilities, recent years’ downtrend in vacancy rates contin ued, contrary to general consensus in 2021 that vacancy rates could not possibly drop lower. However, they could, and they did, in most Danish locations. This trend is especially remarkable in view of the slowdown in the growth of e-commerce in 2022, having soared during the COVID 19 lockdowns in 2020-2021. According to the Danish Chamber of Commerce, aggregate online sales edged down from H1 2021 to H1 2022, marking the first-ever recorded decline in Danish online sales, although still 24% above the 2020 level. In addition, the number of online transac tions in H1 2022 exceeded the number recorded in H1 2021. Thus, the long-term outlook is for continued e-commerce growth, driving demand for storage, packing, dispatch and dis tribution facilities.