● THE DANISH PROPERTY MARKET NEWSEC PROPERTY OUTLOOK • AUTUMN 2020
THE DANISH PROPERTY MARKET CONTINUED STABILITY FOR DANISH PROPERTY terms, and GDP is expected to drop by just under 4% in 2020, one of the lowest decreases in Europe. As such, the Danish economy has proven to be highly resilient to the macroeconomic impacts of the virus. The Danish property market experienced a somewhat slow start to 2020, but quickly saw market activity pick up, which can also be deduced from the transaction volume. The transaction volume in the first half of 2020 was DKK 20.8 billion, which is only a little lower than 2019. This is primarily a product of Q2 2020, which was a
little slower than last year. The virus did not have any effects on Q1, with a number of very large deals being completed, including Galleri K, which was sold for DKK 1.5 billion. The real estate market is expected to experience a strong rebound in Q3 and Q4, with a total annual transaction volume of approximately DKK 50–60 billion this year, in line with last year. Contact: Morten Jensen morten.jensen@newsec.dk Daniel Nielsen daniel.nielsen@newsec.dk
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The Danish macroeconomy has suffered in 2020 as a result of the covid-19 virus, though not as much as many other countries. Denmark was among the first European countries to institute a lockdown, which included closing of schools and working from home. After roughly one month of lockdown, measures begun to ease, which has led to Denmark having relatively limited covid-19 restrictions today, compared to many other European countries. The unemployment rate has risen around two percentage points, to around 7%, which is a relatively limited increase in global
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