October 2020
The Danish Property Federation’s Market Statistics – Vacancy • Now the residential vacancy decreases • Corona has not yet affected the vacancy • Small increases in retail and office properties • Decrease in vacancy for industrial properties
Unchanged vacancy in October The overall national vacancy remain unchanged compared to July 2020. This means that the overall vacancy in October 2020 is at 7.6%. The unchanged vacancy is due to both increases and decreases in vacancy in the different sectors in this quarter. The vacancy of the retail and office sector increases with 0.1 and 0.2 percentage points respectively compared to last quarter, while the vacancy of the residential and industrial sector decreases with 0.5 and 0.1 percentage points respectively. Vacancy in retail and office is therefore still increasing, where they have both increased with 0.3-0.4 percentage points compared to October 2019. On the other hand, the increasing residential and industrial vacancy has become a decrease although they have also increased compared to last year. The unchanged vacancy is positive news in the midst of times with Corona. The decrease in the residential vacancy has huge importance for the positive news. Despite of corona, the population have still acquired rental residences. Furthermore, it is pleasing that the vacancy for the retail and office sector has only increased minimally. You can only hope
Figure 1. Vacancy percentages, October 2020
Economic vacancy
9.8
9.7
The economic vacancy rate indicates how much of the rent is lost as a consequence of empty leases.
8.8 7.7
Corona does not appear to have affected the vacancy yet.
7.6
5.0
Office
Retail
Industry
Residential
Other commercial
Total
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.
0.2
0.4
0.1
0.3
-0.1
1.2
-0.5
0.1
1.7
1.2
0.0
0.2
The term is defined as: The sum of current annual rent in all empty leases divided by the sum of current annual rent in both rented and empty leases.
Source: The Danish Property Federation’s market statistics. Note.: The vacancy rates for all sectors also include actual annual rent and space for other commercial and secondary spaces.
1