Market Report 2022

18

Office - Colliers Market Report 2022

Office summary

Transaction volume DKKbn

In 2021, the strongest officemarket in Danish history set a record with a transaction volume of DKK 19.2 billion. The outlook is for a continued strong market in 2022 but with a slight slowdown in activity. In Denmark, the significant momentum in both the office occu pational and office investment markets was in 2021 driven by strong economic recovery, record-low vacancy rates, sky-high employment, a shortage of new and contemporary premises as well as a ketchup effect in investments due to the coronacrisis. Rental prices have climbed in most parts of Denmark. Activity is expected to remain brisk in 2022, but with yield requirements levelling off.

19

13

Denmark

Gt. Copenhagen

Share of total transaction volume

18% Denmark

22% Gt. Copenhagen

Yield compression in Copenhagen and Aarhus

Share of foreign investors

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

45% Denmark

65% Gt. Copenhagen

13

14

15

16

17

18

19

20

21

22

Copenhagen CBD, prime

Copenhagen CBD, secondary

Aarhus, prime

Aarhus, secondary

Note: Based on transaction volume for office in 2021, Denmark. Source: Colliers

Note: Net initial yields, office. Source: Colliers