April 2021
The Danish Property Federation’s Market Statistics – Vacancy • The overall vacancy is decreasing • Office properties has a decrease in vacancy • Small decreases in retail and residential vacancy • Decrease in industrial vacancy
Now, the vacancy decreases After two quarters with unchanged vacancy, the total vacancy decreases in April 2021. It means that in April 2021, it is 7.2 percent. This is a decrease of 0.3 percentage point since last quarter, and 0.2 percentage point since April 2020. The quarterly decrease in the overall vacancy is a result of decreases in all sectors. Retail and residential vacancy both decrease with 0.1 percentage point compared to last quarter, while it decreases in the industrial sector with 1.0 percentage point. Office sees a decrease of 0.4 percentage point. Annually, office, industrial and residential vacancy decreases with 0.4, 0.1 and 0.4 percentage points while retail vacancy has increased with 0.3 percentage points since April 2020. There, it does not appear that the Corona crisis has had much impact on the vacancy This is, among other things, due to the fact that the owners have held a hand under their tenants. It has meant that the tenants, despite a lack of payment, have been able to stay in their leases. The missing lease payments are a temporary solution, so the
Figure 1. Economic vacancy rate, April 2021
Economic vacancy
9.1 7.8
The economic vacancy rate indicates how much of the rent is lost as a consequence of empty leases.
8.5
8.4
Despite Corona, the overall vacancy has decreased with 0.2 percentage point since last year.
7.2
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.
-0.4
-0.4
-0.1
0.3
-1.0
-0.1
-0.1
-0.4
-0.7
1.0
-0.3
-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
