January 2022
The Danish Property Federation’s market statistics – vacancy • The financial vacancy is decreasing • Still lower residential vacancy
• Decrease in the retail and industrial vacancy • Small increase in office vacancy
The overall vacancy is still decreasing
The vacancy report from new year shows that the overall vacancy is still moving in a positive direction. It means that the overall vacancy has decreased with 0.2 percentage points since October 2021, while it has decreased with 1.2 percentage points since January 2021.
/ Positive development in the retail and residential sector. /
The same changes can be seen in both the retail and residential sector, where the vacancy in both sectors has decreased with 0.2 percentage points since October 2021, while it has decreased with 0.4 and 1.7 percentage points respectively since January 2021. If the starting point is today’s residential supply, the number of vacant residences has decreased with approx. 5,800 residences in one year. In the industrial sector, there has been a quarterly decrease of 0.4 percentage points, but an increase of 0.4 percentage points compared to January 2021. The office vacancy increases with 0.3 percentage point compared to last quarter, but has decreased with 0.8 percentage point since the same time last year.
Figure 1. Economic vacancy rate, January 2022
Economic vacancy rate
11.0 8.6
The economic vacancy rate indicates how much of the rent is lost as a consequence of empty leases.
7.6
7.6
6.3
3.3
Office
Retail
Industry
Residential
Other Business
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
-0.4
-0.8
Quarter
Year
Quarter
0.3
-0.8
-0.2
Year Quarter
Year
Quarter
-0.4
0.4
-0.2
Year Quarter
Year
Quarter
Year
-1.7
-1.4
-0.2
-1.2
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.
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.