Denmark Real Estate Market Outlook 2022

CBRE's annual Denmark Market Outlook report takes a comprehensive look at the prospects for real estate in the year ahead.

February 21, 2022

By Dragana Marina


In the 2022 edition of CBRE Denmark's Outlook report, we share our perspective on likely trends in each sector of the commercial real estate market in 2022 and the opportunities that we foresee emerging for our clients in the year ahead.

CBRE is maintaining a positive outlook for the Danish economy and commercial real estate in 2022, despite uncertainty over the potential impacts of the COVID omicron variant and other risks. While the new variant will impact the timing of a large-scale return to the office, fiscal and monetary policy remains highly supportive of economic growth. Alongside low interest rates, strong economic growth will provide highly supportive conditions for commercial real estate. We do not foresee interest rates rising sharply enough to disrupt property markets, with 10-year government bonds expected to reach 0.29% (from 0.03% in 04 [Q4] 2021) by the end of 2022.

We foresee another record year for commercial real estate investment, enabled by high levels of low-cost debt availability and new players drawn to real estate debt's attractive risk-adjusted returns. Commercial real estate values will rise, particularly for sought-after industrial and multifamily assets. Investors will sharpen their focus on emerging opportunities in the office and retail sectors in search of better returns. The supply/demand balance in the office sector will remain highly favourable for occupiers, but the pace of recovery will pick up following a sluggish 2021. With hybrid work being the new normal, office properties with amenities that enhance employee collaboration, connection and wellness will fare best.


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