Copenhagen Property Market Report 2020

95

Copenhagen Property Market Report 2020

Thriving industry Similar to logistics properties, industrial properties with attractive facilities are in strong demand. The demand for industrial facilities, unlike several other property types, is highly susceptible to business cycles, and with nearly ten years of economic upturns – and limited new construction – the market is now facing a lack of good-quality facilities. The stronger demand is driven by increasing export and import levels, and the fact that industrial businesses have become less prone to outsourcing assignments to facilities abroad, some starting to insource particularly demanding production. Advanced production has to a large extent proved a challenge to the existing building stock, where e.g. limited ceiling height renders it difficult to use robotics or other forms of automation.

Fremgang for industrien Ligesom der er stor efterspørgsel på logistikejendomme, er der stor interesse for industriejendomme med gode faciliteter. Efterspørgslen på industriejendomme er – modsat flere andre typer ejendomme – meget afhængig af den økonomiske udvikling, og med næsten ti års opsving – og begrænset nybyggeri – oplever markedet nu mangel på gode faciliteter. Den stigende efterspørgsel hænger sammen med stigende eksport og import og med, at industrivirksomheder knap så hyppigt som før outsourcer arbejdsopgaver til udlandet, og nogle er begyndt at hjemtage særligt krævende produktion. Den avancerede produktion har i høj grad udfordret den eksisterende bygningsmasse, hvor fx begrænset loftshøjde gør det vanskeligt at anvende robotter og andre former for automatisering.

OFFICE HOTEL RETAIL INDUSTRIAL REGIONS RESIDENTIAL

Stable increase in Danish industrial output levels

Growth in Danish net exports, 2019

60 70 80 90 100 110 120 130 140

IMPORTS DKK 649.2bn

10

11

12

13

14

15

16

17

18

19

Note: Production index, Danish industry, seasonally adjusted (index 100 = 2015). Source: Statistics Denmark

Industrial capacity utilisation continues to hover around 80%

90

85

80

EXPORTS DKK 731.8bn

75

70

65

Note: Annual imports and exports, seasonally adjusted. Based on interim estimate, December 2019. Source: Statistics Denmark

10

11

12

13

14

15

16

17

18

19

Note: Capacity utilisation (%), Danish industry. Source: Statistics Denmark