OFFPLAN NEWS

(11.06.2007 )
Buy property in Denmark Denmark: Copenhagen building activity boom not yet topping

Building activity in Greater Copenhagen property in Denmark is thundering along. The building industry is in a regular boom with housing as well as business projects and all indications are that the top has not yet been reached. Especially on the business front, growth in building activity is still considered on its way up whereas the bursting housing building is gradually reaching the top, writes Berlingske Tidende.

Housing building has been at a record high level for several years. And the building industry estimates that it will continue at a stable level for still some years.

Peter Winther, general manager and partner at the real estate company Sadolin & Albæk, explains that the housing market’s building boom is due to the fact that Copenhagen municipality has been “good at obtaining various sites for housing building.”

Although building of business premises is not in the same dimensions as housing building it looks promising and the industry expects growth for several years to come.

According to the players on the market all of it is not for speculation reasons. Both with regards to housing and business building demand is so great that it is no problem to sell a large part of the square metres even before the building is finished.

“Talking of business premises, the largest part is by far leased in advance. There is a certain speculative development, however, probably under 10-20 per cent of the total building activity, so it is in no way dramatic. It is not at all as in the 1980s when we also had a comprehensive business building, but 80 per cent was speculation,” says Peter Winther at Sadolin & Albæk that is specializing in business premises.

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