Copenhagen Property Market Report 2020

Copenhagen Property Market Report 2020

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A lot more metro With an increasing number of inhabitants and workers, congestion poses a serious challenge in the Capital. Accordingly, a location with S-train or metro proximity will become more important for businesses. In particular in terms of young employees that do not own a car – and have no desire to own one due to their limited financial means, growing climate consciousness and traffic challenges. In 2002-2007, the first metro lines were established mainly in development areas where easy access to public transport was one of the foremost advantages. This applied to Ørestad, but also to eastern Amager and the Flintholm area of Frederiksberg. Having attracted thousands of office workplaces, Ørestad still remains to be fully developed, e.g. Norwegian KLP is building its third large-scale office building in Ørestad City. In autumn 2019, CityRingen opened with 15 new metro stations, mainly in fully developed areas. The metro extension provides swifter access to many businesses in the CBD where congestion tends to be most severe. Østerport station has become a gateway to northern Zealand; here you can change to the metro and in a matter of minutes reach thousands of workplaces at Frederiksstad, Kongens Nytorv or City Hall.

investments that we doubt would have taken place had it not been for CityRingen. Nordic NREP has acquired Titanhus on the outskirts of Nørrebro, at Skjolds Plads metro station, and pension fund ATP is developing a site on the corner of Lyngbyvej and Jagtvej, across from the Vibenshus Runddel station. In April 2020, the first stage of the Nordhavn metro opens with two stations and more to come, once the former harbour areas are further developed with housing and offices. When completed, the metro line is expected to fuel the already fair interest in the Nordhavn district. The metro may prove a threat to Tuborg Havn in Hellerup on the waterfront north of Copenhagen and Nordhavn as this location, featuring many head-office buildings, is serviced by buses only. Longer term, we expect some businesses to prefer e.g. Nordhavn to the former brewery site. In four years, the Sydhavn metro is to open with five new stations. This will strengthen development activity in the remaining areas available at Sydhavn (the south harbour) and Valby Syd, with Ny Ellebjerg station as an important hub for metro, multiple S-train and regional train services. Office demand is expected to pick up as a result. Station proximity in itself hardly serves as a guarantee for tenants, however. They will often still demand space-efficient and flexible layout, good indoor climate, energy efficiency, etc.

Businesses at Østerbro, Nørrebro and parts of Copenhagen NV have also reaped time-saving benefits: We have seen several

Copenhagen Metro, Ørestad station