Copenhagen Property Market Report 2020

Copenhagen Property Market Report 2020

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Outlook for 2020 The investment market for industrial and logistics property is strong. Although we anticipate an increase in speculative construction, the industrial/logistics market will remain a distinctly occupational market in the foreseeable future, with businesses owning the premises they occupy. So far, the presence of domestic pension funds and other investors remains fairly limited, but investor demand may pick up as e.g. residential and office yield requirements continue to drop. Many investors have substantial placement requirements and view Denmark as an attractive market worth entering. In recent years, we have for instance seen Asian investors with an appetite for industrial/logistics facilities. As the market gradually matures, it is expected to attract even more foreign investors. They value security in terms of long lease agreements, and we believe that the market will continue to see a great many sale & leaseback transactions, where the user sells its owner-occupied premises but stays on as tenant.

Udsigt for 2020 Investeringsmarkedet for industri- og logistikejendomme er stærkt. Men selv om vi forventer mere spekulativt byggeri, vil markedet i den nærmere fremtid fortsat være et udpræget brugermarked, hvor virksomheder selv ejer de bygninger, de bor i. Omfanget af danske pensionskasser og andre investorer er stadig meget begrænset, men interessen blandt investorer kan stige, i takt med at afkastkravene for eksempelvis bolig og kontor fortsætter med at falde. Mange investorer har stort placeringsbehov og ser Danmark som et attraktivt marked, der er værd at bevæge sig længere ind på, og de seneste år har vi blandt andet set asiatiske investorer med interesse for industri- og logistikejendomme. Når markedet gradvis modnes, forventes endnu flere udenlandske investorer at blive tiltrukket. De lægger vægt på sikkerhed i form af lange kontrakter, og vi forventer, at markedet fortsat vil have mange sale-and-lease-back-transaktioner, hvor brugeren sælger sin ejendom, men bliver boende som lejer.

 MARTIN HEDEGAARD CHRISTENSEN , martin.hedegaardchristensen@colliers.com

With the market gradually maturing, we expect investor demand for logistics properties to become even stronger in 2020