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The Danish property market report 2011/2012
26-10-2011: Commercial property markets in Aarhus, Aalborg, Odense and the Triangle Region
At year-start, 2011 promised to be a good year for the Danish commercial property industry. Several large properties were traded, and liquidity was seemingly back in the market. In particular institutional investors and well-consolidated property companies were active in the market, but also private investors.
However, over summer Denmark appeared to be heading for renewed recession. Moreover, there were bad tidings from abroad in terms of debt crises in the United States and southern Europe. This impacted on the investment market for commercial property, prompting a decline in activity in the third quarter.
Although activity continues to be fairly brisk in the Greater Copenhagen investment property market, provincial towns and cities are hit particularly hard in a market downturn such as the existing one. Nevertheless, Aarhus seems to represent an exception from this rule: the city is undergoing rapid development, with new construction really gaining momentum e.g. in the Aarhus Docklands. In 2012, this location will see the first residential completions, in the years ahead followed by head offices, educational institutions, senior citizen housing, youth housing as well as a new multimedia centre.
In Aalborg and Odense, former industrial sites are similarly converted into up-to-date urban space accommodating both offices and housing. The redevelopment of these areas may help to kick-start activity in these markets, thereby fostering new investment. At the same time, the universities of these cities cite a record-breaking intake of students, which longer term may contribute to lift the cities in terms of an improved level of education.
This 2011/2012 market report by Sadolin & Albæk offers an overview of trends in the most important commercial property markets outside Greater Copenhagen, including occupier and investment market information and details on significant transactions in various sectors and sub-markets. The report was released in October 2011.
Reproduction or citation only with express acknowledgement of source.
The Danish property market report 2011/2012:
 The Danish property market report 2011/2012
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