Statistical presentation

Data description

The rent index for commercial properties shows the price development for commercial properties rented out by private individuals and companies in Denmark, broken down by housing, retail, offices, and industry.

The rent index is compiled as a price index that measures the relative price change in rent between quarters, with 2021 as the index reference period (2021=100). The development in rent is calculated based on the ratio between the average rent in the months of January, April, July, and October and the corresponding month in the preceding quarter, for the commercial leases included in the statistic.

Since the commercial leases included in the statistic are continuously replaced over time, the overall index is in practice constructed as a chain index. Here, a series of individual price indices (links) are chained together, where each link in the chain index has its own composition of leases and value weights, with the last quarter of the preceding year as the price reference period.

Classification system

The rent index for commercial properties is grouped by property category, including:

• Housing
• Retail
• Office
• Industry

Of the total annual rental expenditure at the national level, housing accounts for 52.8 pct., retail for 12.0 pct., office for 10.9 pct., and industry for 24.3 pct.

Sector coverage

Commercial real estate.

Statistical concepts and definitions

Index reference period: The period in which the chained price index is scaled to 100. Typically, the index reference period is for one year. The index reference period affects not only the calculated change in the price index (when one disregards rounding differences in the published index).

Chained index: A chained index measures the change in prices in a collection of price indices for multiple periods, where the calculation of each price index (“link”) contains different baskets of goods. Each “link” in a chained index has in addition to the specific basket of goods (and weights) contain its own price reference period, where each new basket of goods (and weights) is used.

Statistical unit

Commercial tenancy.

Statistical population

The statistical population cover commercial real estate used for residential, retail, office or industry purposes.

Reference area

Denmark, excl. Greenland and the Faroe Islands.

Time coverage

The statistics covers the time period from 2021 to the present.

Base period

2021=100.

Unit of measure

Index values and percentage change.

Reference period

Rent is measured in January, April, July, and October, and price trends are measured between those months.

Frequency of dissemination

Quarterly.

Legal acts and other agreements

Section 8 of the Executive Order on Statistics Denmark.

Eurostat is currently working on the development of indicators for commercial real estate (CREI), which is expected to result in a regulation requiring Statistics Denmark to produce these statistics going forward.

Cost and burden

These statistics are based on administrative data. There is thus no direct response burden, in relation to the compilation of these statistics.

Comment

Further information can be found at the subject page or by contacting Statistics Denmark directly.