The Danish Property Federation Market Statistics – Vacancy
October 2018
• Office vacancy has the highest annual decrease since the millennium. • Total vacancy decreases to the long-term average for the first time since 2009. • The decreasing vacancy results in increased rental income of DKK 300 million in the most recent quarter – over the most recent year the number is DKK 1.5 billion. • The demand keeps up with the increased residential supply and vacancy for residential is once again declining to four percent.
WEB REPORT VACANCY
The real estate sector reaches an important milestone The years following the financial crisis derived in several years of high vacancy. Since vacancy peaked with 10.6 percent in 2013 it has decreased significantly. The result is an increased annual revenue of DKK 3.9 billion. And this development is expected to continue with an increased annual revenue of DKK 1.5 billion based on last year’s decrease in vacancy. The period of October to October 2018 contributes with DKK 300 million. The Danish real estate sector reaches an important milestone with a vacancy of 6.9 percent in the third quarter of 2018. In fact, 6.9 percent is the long-term average in the period from 2000 to 2018 and it is the first time since 2009 that vacancy reaches this average.
For the first time since 2009 vacancy reaches the long-term average.
Conversely, there is still ample room for further improvement. Compared to the low vacancy
Figure 1. Economic vacancy, October 2018
Publication on geographical classification
10.3
10.0
8.1
In October 2018 the Danish Association of Chartered Estate Agents and the Danish Property Federation published a new publication on geographical classification in Copenhagen and surrounding areas.
7.6
6.1 4.2
Office
Retail
Industry
Residential
Other commercial
Change in percentage points
Change in percentage points
Change in percentage points
Change in percentage points
Change in percentage points
Change in percentage points
Quart.
An.
Quart.
An.
Quart.
An.
Quart.
An.
Quart.
An.
Quart.
An.
0.1
-1.2
0.0
-0.5
-0.2
-0.5
0.1
0.8
-0.2
0.3
0.0
-0.7
Total
Source: The Danish Property Federation Market Statistics. Note.: The vacancy rates for all rectors also include actual annual rent and space for other commercial and secondary spaces.
Published by
To follow these recommendations, Copenhagen CBD and Other Copenhagen are no longer included in this web report. New areas are: Copenhagen Centre, Other Copenhagen Municipal, and Other Capital. Download the new publication www.ejendomsforeningen.dk/område
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