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
Danish Property Federation Market Statistics – Vacancy, April 2021
latest reopening of the community positive news for all of the players in the property business as the tenants can hopefully begin payment of unpaid rent.
Office spaces are still in demand despite Corona.
Office vacancy has decreased As a consequence of the Corona crisis, many have worked from home in the last year. It has created a debate about whether the home office should have greater importance in the future, which may cause changed and potentially downscaled need for office spaces. The latest vacancy numbers, however, that office spaces are still in demand. The numbers show that the office vacancy has decreased with 0.4 percentage point since January 2021. The decrease takes place despite that Denmark and the rest of the World are still in the middle of the Corona crisis. Furthermore, it can also be seen that the office vacancy has decreased with 0.4 percentage point since April 2020. April 2020 was the early days of the Corona crisis, where changed trends had not yet had an impact. The decrease since April 2020 emphasises that the Corona crisis has not decreased the companies’ need for office spaces.
Figure 2. Development in economic vacancy Percent
25.0
20.0
25
Tomgang i procent
20
15.0
15
10
5
10.0
0 Hele landet
Region Hovedstaden Region Midtjylland A+B
C+D
Region Syddanmark
E+F+G
5.0
2002 2003 2004 2005 2006 2007 2008 2009 2010 Office
Retail
Industry
Residential
Jul.
Jul.
2019
Jan.
Jul.
2018
Jan.
Jul.
2017
Jan.
Jul.
2016
Jan.
Jul.
2015
Jan.
Jul.
2014
Jan.
Jul.
2013
Jan.
Jul.
2012
Jan.
Jul.
2011
Jan.
Jul.
Jan.
Jul.
Jan.
Jul.
Jan.
Jul.
Jan.
Jul.
Jan.
Jan.
Jul.
Jul.
Jan.
Jul.
Jan.
Jul.
Jan.
Jul.
2000 2001
Jan.
Jul.
Jan.
Jan.
0.0
2020
Total
Source: The Danish Property Federation Market Statistics and own calculations based on data from IPD Danish Property Index and Ejendomstorvets Market Index. Note.: Data from January 2014 and onwards is from the Danish Property Federation’s Market Statistics. From 2001 to 2013, numbers from IPD Danish Property Index are processed based on differences in level in 2014. In 2000, office data from Ejendomstorvets Market Index is included. The calculation methods are not similar which is why there i a gap in data between October 2013 and January 2014. From January 2014, the calculation is quarterly, while it is annual before 2014. From 2014, the data used is more detailed.
2
Danish Property Federation Market Statistics – Vacancy, April 2021
Office – Decrease in vacancy In April 2021, the office vacancy is 9.1 percent. It means that office vacancy has decreased with 0.4 percentage point compared to last quarter and the same time last year. Office vacancy is thus 0.6 percentage points higher than the average from 2000-2021. In the regions, there is a decrease in office vacancy in both the Capital Region, the Region of Southern Denmark and the North Denmark Region of 0.5, 0.5 and 1.2 percentage points respectively compared to last quarter, while there are increases in office vacancy in Region Zealand and the Central Denmark Region of 0.7 and 0.4 percentage point respectively. The North Denmark Region and Central Denmark thus share the spot for lowest office vacancy among the regions, whereas Region Zealand has the highest.
Lowest office vacancy in the North Denmark Region and Central Denmark
In the Capital Region, the office vacancy in the different areas have decreased with 0.20.9 percentage points since the last quarter. Here, it is especially the office spaces in central Copenhagen that have been sought after. Apart from having decreased with 0.9 percentage point since the last quarter, the office vacancy in central Copenhagen has also decreased with 0.3 percentage point compared to the same time last year. Office vacancy in the City is therefore now at 7.4 percent which is the lowest office vacancy among the areas in the Capital.
Office spaces in central Copenhagen are in demand.
If you look at other cities, it can be seen that there is also a decrease in Aalborg, while there are increases in both Aarhus and Odense. In Aalborg, the office vacancy has decreased with 0.5 percentage point since January 2021, while it has decreased with 1.2 percentage points since April 2020. It means that the office vacancy in Aalborg is at 7.7 percent. In Aarhus and Odense, the office vacancy has increased with 0.5 and 0.7 percentage points compared to both last quarter and the same time last year. It brings the office vacancy to 7.1 and 9.8 percent respectively in the two cities. Aarhus, however, still has the lowest office vacancy among the cities, while Odense has the highest. However, Odense has the lowest office vacancy in the Region of Southern Denmark.
3
Danish Property Federation Market Statistics – Vacancy, April 2021
Economic vacancy rate April 2021 (percent)
Quarterly change (percentage points)
Annual change (percentage points)
8.8
-0.5
-0.4
Copenhagen Centre
7.4
-0.9
-0.3
Other City of Copenhagen
8.9
-0.2
1.5
Northern Zealand
8.2
-0.6
-4.2
Other Capital Region
9.8
-0.5
-2.1
14.9
0.7
0.6
Eastern Zealand
16.8
-0.4
1.3
Western and Southern Zealand
13.5
1.6
0.2
The Region of Southern Denmark
12.3
-0.5
-0.8
Odense
9.8
0.7
0.7
Triangle Area
13.7
0.4
-1.7
Other Southern Denmark
13.8
-2.3
-1.4
7.9
0.4
0.5
Table 1. Office Capital Region
Region Zealand
Central Denmark Region Aarhus
7.1
0.5
0.5
Other Central Denmark
11.1
0.4
1.0
7.9
-1.2
-2.3
Aalborg
7.7
-0.5
-1.2
Other North Denmark
9.4
-6.2
-8.4
9.1
-0.4
-0.4
North Denmark Region
Total
Source: The Danish Property Federation Market Statistics.
4
Danish Property Federation Market Statistics – Vacancy, April 2021
Retail - Small decrease The retail vacancy decreases slightly with 0.1 percentage point compared to January 2021, while it has increased with 0.3 percentage point since the same time last year. It means that the retail vacancy is at 7.8 percent in this quarter, which is 1.0 percentage point higher than the average of the period 2000-2021. The retail vacancy in all regions except the Central Denmark Region decreases with between 0.1 and 1.2 percentage points compared to last quarter. In Central Denmark, the vacancy increases with 1.0 percentage point in the same period. The North Denmark Region has the lowest retail vacancy among the regions with 5.4 percent, while the Region of Southern Denmark has the highest retail vacancy with 9.7 percent. This is despite a decrease of 0.6 percentage point in the Region of Southern Denmark. The lower retail vacancy in North Denmark is due to especially the rate in Aalborg. Here, the retail vacancy is at 3.9 percent which is a decrease of 0.2 percentage point since last quarter and a decrease of 2.2 percentage points since the last time last year. Aalborg is also the city with the lowest retail vacancy.
Aalborg has the lowest retail vacancy.
The retail vacancy in Aarhus, Copenhagen and Odense is at 7.2, 9.1 og 9.0 percent respectively. In Odense, the retail vacancy has decreased with 0.1 percentage point since January 2021, while it has decreased with 1.0 percentage points since April 2020. Contrary, the retail vacancy in Aarhus and Copenhagen has increased with 1.1 and 0.7 percentage points respectively since last quarter. Copenhagen is thus the city with the highest retail vacancy. The increase in central Copenhagen seems to be a general increase as both Strøget and other parts of central Copenhagen experiences increases in retail vacancy.
Central Copenhagen sees a general increase in retail vacancy.
5
Danish Property Federation Market Statistics – Vacancy, April 2021
Economic vacancy rate April 2021 (percent)
Quarterly change (percentage points)
Annual change (percentage points)
7.7
-0.1
0.2
9.1
0.7
0.1
Other City of Copenhagen
5.9
-0.5
-0.5
Northern Zealand
8.4
-0.2
1.4
Other Capital Region
7.7
-0.3
0.4
8.3
-0.4
1.0
Eastern Zealand
7.9
-0.6
1.0
Western and Southern Zealand
8.8
-0.1
1.2
The Region of Southern Denmark
9.7
-0.6
0.3
Table 2. Retail Capital Region Copenhagen Centre
Region Zealand
Odense
9.0
-0.1
1.0
Triangle Area
9.6
-0.6
0.8
10.4
-1.0
-1.4
7.8
1.0
1.2
7.2
1.1
0.8
Other Southern Denmark Central Denmark Region Aarhus Other Central Denmark
8.7
0.9
1.9
5.4
-1.2
-0.9
Aalborg
3.9
-0.2
-2.2
Other North Denmark
9.5
-3.7
2.5
7.8
-0.1
0.3
North Denmark Region
Total
Source: The Danish Property Federation Market Statistics.
6
Danish Property Federation Market Statistics – Vacancy, April 2021
Industry - Decrease in vacancy The industrial vacancy has decreased with 1.0 percentage point since last quarter and with 0.1 percentage point since the same time last year. It means that industrial vacancy is at 8.4 percent in April 2021. That is 3.0 percentage points lower than the average for 2000-2021. If we look at the regions, the industrial vacancy decreases in all regions except for the Region of Southern Denmark. In the Region of Southern Denmark, the industrial vacancy has increased with 1.2 percentage point since last quarter, while it has increased with 2.0 percentage points since April 2020. With this, the region has an industrial vacancy of 7.3 percent which causes the Region of Southern Denmark not to have the lowest industrial vacancy among the regions anymore. Both Central Denmark and North Denmark has a lower rate of 6.2 and 5.6 percentage points respectively, as they have decreased with 0.3 and 0.1 percentage points since last quarter. In the Capital Region, the industrial vacancy is the highest with 9.2 percent. This is despite the fact the the Capital is experiencing the highest quarterly decrease of 1.6 percentage points, while it has decreased with 0.6 percentage points compared to the same time last year. The large decrease in the Capital is also seen in central Copenhagen, North Zealand and other Capital Region, where the industrial vacancy has decreased with 0.7 and 2.6 percentage points. In other City of Copenhagen, the industrial vacancy increases with 0.6 percentage points both quarterly and annually.
The North Denmark Region with the lowest industrial vacancy.
Largest quarterly decrease in the Capital.
Economic vacancy rate
Table 3. Industry Capital Region Copenhagen Centre Other City of Copenhagen Northern Zealand Other Capital Region Region Zealand Western and Southern Zealand The Region of Southern Denmark Odense Triangle Area
April 2021 (percent)
Quarterly change (percentage points)
Annual change (percentage points)
9.2
-1.6
-0.6
13.0
-0.7
0.5
11.8
0.6
0.6
22.2
-1.2
1.7
7.1
-2.6
-1.8
8.9
-1.2
1.7
22.8
0.3
5.7
7.3
1.2
2.0
4.3
-1.5
13.9
5.1
5.5
3.5
0.2
1.7
6.2
-0.3
0.0
Aarhus
8.4
0.0
-0.9
Other Central Denmark
4.5
-0.6
0.6
Other Southern Denmark Central Denmark Region
North Denmark Region Aalborg Total
5.6
-0.1
-3.5
7.7
-0.4
-4.4
8.4
-1.0
-0.1
Source: The Danish Property Federation Market Statistics.
7
Danish Property Federation Market Statistics – Vacancy, April 2021
Residential - Small decrease in vacancy Stable residential vacancy since the end of 2019.
Region Zealand still has the lowest residential vacancy.
Odense now with the lowest residential vacancy.
Larger residential vacancy in Aalborg is due to new construction.
8
The residential vacancy is at 5.0 percent in April 2021. There is a small decrease of 0.1 percentage point since January 2021and a decrease of 0.4 percentage point since April 2020. The residential vacancy therefore continues to be at a stable rate. Since the end of 2019, the residential vacancy has been around 5.1 percent on average. However, office vacancy is 1.5 percentage points higher than the average for 2000-2021. The quarterly decrease in residential vacancy can also be seen in the individual regions except the North Denmark Region, where the residential vacancy has increased with 1.3 percentage points. The Capital Region decreases with 0.2 percentage point, while Zealand, South Denmark and Central Denmark have all decreased with 0.3 percentage point since last quarter. Thereby, Region Zealand continues to have the lowest region Zealand among the regions. If we compare to the same time last year, Region Zealand is also the region which has seen the highest decrease. Compared to April 2020, the residential vacancy in Residential vacancy has decreased with 1.2 percentage points. In the Capital and Central Denmark, it has decreased with 0.6 and 0 percentage points respectively, while it has increased with 0.4 and 0.1 percentage points in South Denmark and North Denmark respectively. Among the cities, Odense now has the lowest residential vacancy. Odense has a residential vacancy of 4.6 percent which is a quarterly decrease of 0.8 percentage points but also an annual increase of 0.4 percentage points. Aarhus has the second lowest residential vacancy of 5.7 percent after a quarterly increase of 0.4 percentage point. On the other side is central Copenhagen and Aalborg which has a residential vacancy of 6.9 and 8.1 percent respectively. Here, the residential vacancy in central Copenhagen has decreased with 0.4 percentage point compared to last quarter and decreased with 0.1 percentage point compared to the same time last year. Aalborg on the other hand experiences an increase of 1.3 percentage points since last quarter and a decrease of 0.3 percentage point compared to the same time last year. With that, Aalborg’s residential vacancy reaches 8.1 percent in April 2021. A deeper analysis of Aalborg shows that the quarterly increase is especially due to new residential property being included in the statistics. New residential properties normally means a higher residential vacancy in the short term, and this is also the case in Aalborg. The analysis show that the residential vacancy for existing leases - i.e. for the leases that were also part of the last statement have been unchanged since last quarter.
Danish Property Federation Market Statistics – Vacancy, April 2021
Economic vacancy rate
Table 4. Residential Capital Region
April 2021 (percent)
Quarterly change (percentage points)
Annual change (percentage points)
4.7
-0.2
-0.6
Copenhagen Centre
6.9
-0.4
-0.1
Other City of Copenhagen
4.8
0.0
-0.8
Northern Zealand
3.4
-0.3
-1.0
Other Capital Region
4.2
-0.6
-0.3
4.0
-0.3
-1.2
Eastern Zealand
3.4
0.0
-1.2
Western and Southern Zealand
4.3
-0.4
-1.3
Region Zealand
Region Syddanmark
4.4
-0.3
0.4
Odense
4.6
-0.8
0.4
Triangle Area
5.2
1.3
1.0
Other Southern Denmark
3.4
-0.4
0.1
5.6
-0.3
-0.1
Central Denmark Region Aarhus
5.7
0.4
-0.1
Other Central Denmark
5.2
-2.0
-0.2
8.4
1.3
0.1
8.1
1.3
-0.3
11.4
1.5
4.4
5.0
-0.1
-0.4
North Denmark Region Aalborg Other North Denmark Total
Source: The Danish Property Federation Market Statistics.
9
Danish Property Federation Market Statistics – Vacancy, April 2021
Geographical overview Copenhagen Centre
Christiansborg Christianshavn
Tivoli
Northern Jutland Region
Aalborg
Mid Jutland Region
Aarhus Northern Zealand Capital Region
Triangle Area
Copenhagen Centre Zealand Region
Southern Denmark Region
Odense
Western and Southern Zealand
Eastern Zealand
Other Copenhagen Municipal Other Capital Region
Source: The Danish Property Federation Market Statistics. Note: Copenhagen Centre consists of Copenhagen inner city covering the zip codes: 900, 1000-1431, 1434-1438, 1448-1559, 1562-1609, 1611-1614 og 1631-1634.
10
Danish Property Federation Market Statistics – Vacancy, April 2021
About the Market Statistics This web report is published 27 April 2021. Next scheduled publication is February 2021. The portfolios have approx. 227,000 leases corresponding to an annual rental-bearing value of DKK 38.5bn and 36.1m m2. In comparison, the statistical base in April 2020 was 191,000 leases with an annual rental-bearing value of DKK 33,9 billion and 31,1 million m2. Today, 16,600 properties* are included in the market statistics. It is the current annual rent that is included in the calculation of the economic vacancy rate. The economic vacancy rate 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. The Market Statistics is based on quarterly processed property data for rentals and vacancies within the period in question. Compared to previous publications, the balance date has been changed from the last day of the last quarter to the first day of this quarter. This web report has thus been closed as of 1 April 2021 and is called April 2021. The quarterly change is from April 2021 (closed as of 01 April 2021) compared to January 2021 (closed as of 01 January 2021). The annual change is from April 2021 (closed as of 01 April 2021) compared to April 2020 (closed as of 31 March 2020). The published market data is updated and valid on the day of publication. As the market statistics are continuously updated with e.g. new historical data, there may be updates of historical data. It has been chosen not to publish data in the statistics where the basis has been evaluated not to provide valid and representative data or in combinations where only one or a few portfolios are represented. * The number of properties include properties and parent properties. A property can include one or more buildings and one or more residential or office units. A parent property includes a property, in which there are apartments, which are registered as independent properties. For these units it is the parent properties that are counted and not the individual apartment.
Further information If you wish to know more about this publication please contact Director in the Danish Property Federation
Morten Marott Larsen mml@ejd.dk Phone +45 28 45 56 51
This report is based on data from 2 + 3 Ejendomme, Aberdeen Asset Management, Advice, Advodan, Akelius, Alm. Brand, ALN Holding, Andersen Partners Ejendomsadministration, Anker Bay Petersen, AP Pension, Arbejdernes Landsbank, Arkitekternes Pensionskasse, Arup & Hvidt, ATP, Bagenkop Ejendomme A/S, Balder Ejendomme, Ballegaard Gruppen, Bangs Gård A/S, Bank Lauridsen, Barfoed Group, Bellevue 16 ApS, Bendtsen ApS, Bernhard Guhle, Bernstorrfhus, Bevica Fonden, Birch Ejendomme, BladhuseneApS, Blue Vision, Bodil og Co. I/S, Bolig Data Administration, Bolig og erhvervsudlejning I/S, Boligexperten Adm. A/S, Boliggruppen, Boligstandard ApS, BoStad A/S, Brdr. Christiansens Boligudlejning, Broen Shopping, Bruno Dall, Calum A/S, Carlsbergfondet, CBRE, CEJ Ejendomsadministration, Cieslak Ejendomme, CK Holding Odense I/S, Claus Sørensen, CMNRE II FV181 PropCo ApS, CMNRE II Goose PropCo II A/S, Cobblestone, Coller Capital, Compaz Ejendomme A/S, Cosmo Ejendomme ApS, Connla Administraion, CS Pensionsfond, CW Obel Ejendomme, DADES, Danica, Dansk Administrationscenter, Danagraf A/S, Dansk Sygeplejeråd, Danske Bank, Danske Shoppingcentre, DATEA, DEAS, DEAS Invest 1, De Københavnske Ejendomsselskaber, Demant Advokater, Difko, DIKEV, DIP, DK Ejendomme, DNP Ejendomme, Domhusgaarden Ejendomsadministration, Domis Ejendomme, Dreist-Storgaard, DSB Ejendomme, Egen Vinding & Datter ApS, Ejd. Selskabet Dronning Olgas Vej 15 ApS, Ejendommen Hauchsvej 16 I/S, EjendomDanmark, Ejendomskontoret, Ejendomsselskaberne, Ejendomsselskabet af 15. maj 1895, Ejendomsselskabet Aunbøll A/S, Ejendomsselskabet NEMP, Ejendomsselskabet Thy, Ejendomsselskabet Østervold, Elverhøj Investment Group ApS, Estate Invest, Etex Ejendomme, Erhverv Aalborg, EV bolig, Fast Ejendom Danmark, Flemming Jeppsson, Flemming Olsen, Flemming Sørensen, Fokus Asset Management, Frederiksberg Fonden, Freja Ejendomsadministration, Friheden Ejendomme A/S, Færchfonden, Goldschmidt Ejendomme A/S, Grosserer Schiellerup og Hustrus Fonde, Gudbjørg og Ejnar Honorés Fond, Grønløkkevej 10, Grønnegaarden Ejendomsselskab, Hans Nielsen, HEA Ejendomme, Hegela Erhvervsudlejning, Heimstaden, Helle Duun, Hestia, Hjørnet, Home Holbæk, Hovedstadens Ejendomsadministration, Hosta Ejendomme, Humlebogruppen, Højgaard Ejendomme, Industriens Pension, Investorgruppen, Jammerbugt Kommune, Jens Garfalk, Jeudan, JJ Ejendomsadministration, Jorcks Ejendomsselskab, JØP, Kaj Pedersen, Kalkværksgrundene, Kalvebod Ejendomme, Karberghus, Kayhan Development, KEBLOH ApS, Kereby A/S, KFI Erhvervsdrivende Fond, KIRKBI, KHK’s Legat, KGV Aarhus ApS, KLP Ejendomme, Koncenton, Kramers Legat, K/S Ingolf Nielsens Vej Sønderborg, K/S Roskilde Retail Park II, Københavns Kommune, Køge Kommune, Laros, Lars Wissing, LB Forsikring, Levring & Levring,Lindhart Ejendomsadministration, Lyngby Kommune, Lægernes Pensionskasse, Lærernes Pension, M7 Real Estate ApS, Michael Westh-Jensen, Midtbyens Ejendomme, Minova, Mogens Westh-Jensen, Moltzen Administration, Mogens Nielsen, Morten Norberg,MP Pension, MOWE Holding ApS, NEMO Ejendomsadministration, Nemp Ejendomsadministration, Niam, Niels Møller, Nielsen & Nielsen Ejendomme A/S, Nordea Ejendomme, Nordea Liv og Pension, North Property Asset Management, NREP, Odense Bolig ApS, Ole Hartvig, PBU, Pears, PenSam, PensionDanmark, Pensionskassen for Farmakonomer, PFA, Pfeiffer Ejendomme ApS, PIA, Rasch-Andersen Ejendomme ApS, Rathleff Ejendomme, International, Pitzner Ejendomme, PKA, PN Ejendomme, Postbudenes Byggeforening, Probus, ProDomus, Realdania, Revisorteamet, Roskilde Fællesbageri ApS, Rødovre Centrum A/S, Sampension, SEB, Samrådets Boligselskab / Dronning Louises Stiftelse, Siersbo ApS, Skovly Ejendomme, Sofus Administration ApS, SparNord Ejendomme Aalborg, Storck Holding, Svanholt Ejendomme, SPG Omsorg DK1, Steen & Strøm, Syddan A/S, Taurus Ejendomsadministration, TDC Pensionskasse, Thisted Kommune, Thylander Gruppen Sixpack, TLK Ejendomme, TLP ApS, Tom Jensen, Topdanmark, Totalbyg, Tox Development, Tryg, T.T. Invest ApS, UBSBOLIG A/S, Unico Finans ApS, Vagner P, Valby Maskinfabrik 1ApS, Valad, VEA ApS, Vestegnens Boligadministration, Vestjysk Ejendomsadministration ApS, Vestsjællandske Ejendomme ApS, Volantis A/S, VOPA Ejendomsadministration ApS, V.M. Brockhuus Ejendomme, Wagner Ejendomme, West Star Property Holding ApS, Wihlborg, Wind Administration, Øens Ejendomsadministration, Aalborg Boligadministration and Aage Larsens Boligudlejning.
11
Danish Property Federation Market Statistics – Vacancy, April 2021
Appendix Figure 3. Spatial vacancy rate, April 2021 10.5 8.7
8.7 6.2
7.8 4.8
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
-0.7
-0.2
0.0
-0.7
0.1
-0.1
-0.2
-0.4
-1.4
-0.3
-0.7
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.
Spatial vacancy rate April 2021 (percent)
Quarterly change (percentagepoints)
Annual change (percentage points)
10.4
-0.2
-0.4
Copenhagen Centre
7.9
-0.7
0.2
Other City of Copenhagen
8.0
-0.1
0.8
Northern Zealand
9.5
-0.7
-6.0
13.9
0.2
-0.8
14.1
0.5
-1.0
Eastern Zealand
16.4
0.0
1.5
Western and Southern Zealand
12.8
0.8
-2.4
The Region of Southern Denmark
13.3
-0.4
-1.9
Odense
10.1
0.6
0.1
Triangle Area
15.3
0.1
-3.4
Other Southern Denmark
15.2
-1.9
-2.9
8.3
0.1
-0.3
Aarhus
7.0
0.1
-0.1
Other Central Denmark
12.1
0.5
-0.3
9.8
-1.5
-3.5
Table 5. Office Capital Region
Other Capital Region Region Zealand
Central Denmark Region
North Denmark Region Aalborg
9.9
-0.5
-2.0
Other North Denmark
9.3
-5.9
-10.3
10.5
-0.2
-0.7
Total
Source: The Danish Property Federation’s Market Statistics.
12
Danish Property Federation Market Statistics – Vacancy, April 2021
Spatial vacancy rate
Table 6. Retail Capital Region
April 2021 (percent)
Quarterly change (percentagepoints)
Annual change (percentage points)
7.2
-0.2
-0.3
Copenhagen Centre
8.4
0.7
-0.4
Other City of Copenhagen
5.2
-0.5
-1.2
Northern Zealand
8.5
-0.3
0.0
Other Capital Region
7.9
-0.2
0.3
8.1
-0.3
0.5
Eastern Zealand
5.6
-0.6
-0.4
Western and Southern Zealand
9.9
-0.1
1.3
The Region of Southern Denmark
10.1
-0.5
0.0
9.2
-0.4
0.2
Region Zealand
Odense Triangle Area
10.3
-0.3
-0.8
Other Southern Denmark
10.5
-0.8
0.4
7.3
0.3
-0.1
Aarhus
6.2
0.1
-0.8
Other Central Denmark
8.9
0.7
0.9
Central Denmark Region
North Denmark Region Aalborg Other North Denmark Total
8.2
-1.3
1.7
3.2
-0.8
-3.3
15.9
-1.4
9.6
7.8
-0.2
0.0
Source: The Danish Property Federation’s Market Statistics.
13
Danish Property Federation Market Statistics – Vacancy, April 2021
Spatial vacancy rate April 2021 (percent)
Quarterly change (percentagepoints)
Annual change (percentage points)
9.4
-1.6
-0.8
Copenhagen Centre
18.6
0.1
1.2
Other City of Copenhagen
14.2
1.0
2.6
Northern Zealand
21.6
0.3
2.8
Table 7. Industry Capital Region
Other Capital Region
6.8
-2.7
-2.4
13.5
-0.6
2.6
28.9
0.1
5.0
6.5
1.2
2.2
Odense
4.6
-1.2
Triangle Area
13.1
5.1
5.1
Other Southern Denmark
2.9
0.1
1.4
6.8
0.0
-0.2
10.8
0.6
-1.7
4.4
-0.4
0.9
4.8
-0.4
-3.7
7.1
-0.6
-5.4
8.7
-0.7
0.1
Region Zealand Western and Southern Zealand The Region of Southern Denmark
Central Denmark Region Aarhus Other Central Denmark North Denmark Region Aalborg Total
Source: The Danish Property Federation’s Market Statistics.
Table 8. Residential
Spatial vacancy rate April 2021 (percent)
Quarterly change (percentagepoints)
Annual change (percentage points)
4.3
-0.1
-0.5
Copenhagen Centre
6.0
0.0
0.0
Other City of Copenhagen
4.3
0.0
-0.7
Northern Zealand
3.4
-0.3
-0.8
Capital Region
Other Capital Region
4.0
-0.3
0.0
4.6
-0.3
-1.1
Eastern Zealand
3.1
0.0
-0.3
Western and Southern Zealand
5.1
-0.3
-1.4
The Region of Southern Denmark
4.2
-0.3
0.4
Odense
4.5
-0.6
0.7
Triangle Area
4.7
0.6
0.4
Other Southern Denmark
3.6
-0.4
-0.1
5.5
-0.5
-0.1
5.6
0.4
0.1
Region Zealand
Central Denmark Region Aarhus Other Central Denmark
5.3
-2.0
-0.4
8.5
1.4
0.3
Aalborg
8.0
1.3
-0.2
Other North Denmark
12.6
1.8
4.5
4.8
-0.1
-0.2
North Denmark Region
Total
Source: The Danish Property Federation’s Market Statistics.