Market Report 2022

I&L - Colliers Market Report 2022

82

Buoyant occupational market: few vacancies and high rental prices 2021 was another record-breaking year in the occupational market in terms of low vacancy rates and high rental prices. Vacancy rates across the entire country dropped to the lowest level since the financial crisis. In prime Danish logistics areas, including Greater Copenhagen and the Triangle Region, vacancy rates currently stand at 2.6% and 1.8%, respectively, that is, below even the 4.00% and 3.25% recorded in the same areas just a year ago. The current level appears to almost defy the laws of nature as customary mar ket dynamics – allowing time for reletting, marketing, and refurbishment of vacated leases – imply higher vacancy rates than this, all other things being equal. At the same time, 2021 marked another year of uptrending rental prices in the segment in all parts of Denmark, although most pronounced in Greater Copenhagen. Similarly, expectations of the next 12 months are running high as there is no sign of a reversal of recent years’ favourable trend. Multiple factors therefore

Continued decline in industrial/logistics vacancies in all parts of Denmark

7%

6%

5%

4%

3%

2%

1%

0%

15

16

17

18

19

20

21

14

Aarhus

Greater Copenhagen Triangle Region

Note: Vacancy rates, industrial and logistics, Denmark. Source: Ejendomstorvet.dk