Focus report Copenhagen - Colliers Denmark 2024

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COLLIERS FOCUS REPORT COPENHAGEN 2024

INTRO

Copenhagen remains Denmark’s main attraction

Copenhagen is the capital of Denmark and also the largest urban area with some 1.4 mil lion inhabitants across 18 municipalities. At the centre lies the City of Copenhagen, with more than 650,000 inhabitants the most highly populated municipality, having almost twice as many inhabitants as Denmark’s second-largest municipality, Aarhus.

In recent years, Copenhagen has attracted substantial worldwide acclaim, for instance on the architectural scene, as UNESCO has named the city World Capital of Architecture in 2023-2025. The same applies to the global gastronomical scene as the city can muster all of 15 Michelin-starred restaurants, including Geranium and Noma, named the world’s best and second-best restaurant, respectively, both boasting 3 Michelin stars. In 2023, for the second year in a row, Copenhagen was recognised by Economist Intelligence as the second-best city in the world to live in. The judging emphasised stability, culture and environment, infrastructure, health and education. Moreover, Copenhagen is northern Europe’s economic growth centre, reflected e.g. in the number of global organisations with head offices in Copenhagen, and reflected also in solid demand in the property investment market, also from foreign investors. Shift in demographic trends Over the past decade, Copenhagen 1 has seen strong population growth of approx. 11%, equalling an annual nominal increase of some 13,700 inhabitants. Popu lation growth has been the strongest in Copenhagen proper 2 , driven mainly by 25-29 year-olds. Copenhagen

environs have seen a similar strong growth rate, but with both 25-29 year-olds and 30-34 year-olds being the main growth drivers here. Broadly speaking, we have seen population growth virtually across the board, reflecting the pull of the city. Copenhagen is expected to see a continued substantial rise in inhabitants. Statistics Denmark predicts popu lation growth of approx. 3.7% between 2023 and 2033,

Note: 1 Copenhagen in this context denotes Copenhagen proper (Københavns By) and Copenhagen environs. 2 Defined as Copenhagen, Frederiksberg, Dragør and Tårnby.