The Winter Lockdown in Denmark has resulted in a reduction in the growth forecast for 2021!

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Denmark's economic growth estimate was slashed for the second time in five months after a lockdown to combat the spread of the virus over the winter slowed the country's recovery. flats for sale in qatar

The Copenhagen government lowered its GDP forecast for this year to 2.1 percent, down from 2.8 percent in December, according to a statement released by the finance ministry on Thursday. It now forecasts a 3.8 percent increase in 2022. Bloomberg News had previously published the information based on documents it had viewed.

Denmark, like the rest of the Nordic region, has fared better than many European rivals during the second wave of the pandemic. Despite this, a resurgence following the first shutdown in 2020 was blocked when the government shut down businesses and schools due to a significant surge in confirmed cases of Covid-19 just before Christmas.

The pandemic has caused a significant setback for the Danish economy, according to the government. “The winter lockdown and changes in Dane behavior have resulted in a temporary drop in activity, although not to the same extent as during the lockdown last spring.”


While other countries battle rising contamination rates, Denmark has begun reopening stores and restaurants after months of consistent confirmed cases. Clothing drove a 24 percent increase in yearly retail sales last month, the highest on record. The country is expected to develop at its fastest rate in 15 years by 2022, according to the prediction. According to the document, the situation appears to be far better than it was in the aftermath of the financial crisis.

House prices in Denmark are expected to grow by more than 10% this year, particularly in big cities. Finance Minister Nicolai Wammen said the government is keeping a careful eye on real estate development in order to avoid a so-called K-shaped recovery.

Wammen told reporters, "I want a recovery that includes everyone." “The current status of the real estate market makes it more difficult for families to purchase a home, but it's important to note that the rise in prices is mostly driven by low borrowing rates and stable private salaries at this time.”

Carsten Grtz Petersen has been promoted to Chief Executive Officer (CEO) of Colliers in Denmark. Peter Winther, the current CEO, has chosen to spearhead efforts for investors and owners throughout Denmark as Executive Director for Capital Markets.

Grtz Petersen was previously a Partner and Director in Charge of Colliers International's Aarhus office, Denmark's second largest city. With over 15 years of experience in commercial real estate and almost 20 years in financial and business advising, he is a highly experienced and enterprising real estate leader. Chris McLernon, Chief Executive Officer, EMEA, will be his boss.

“Colliers is the clear market leader in Denmark, and it has maintained that position with exceptional results and client accomplishments since we started the company in 2018.” We want to expand our company even more, and I am certain that Carsten Grtz Petersen is the appropriate person to lead us into the next phase in Denmark. Denmark remains a strong market for domestic and international business, backed by robust economic circumstances, investor and occupier confidence, and presents significant opportunities for our clients, our people, and our company,” says Chris McLernon.

“It is an honor to be named Chief Executive Officer of Colliers in Denmark and to continue to build our market-leading firm. Colliers has a strong management team that is focused on actions that will strengthen our market position, recruit more excellent talent, and maximize the potential for our clients throughout the next phase of real estate growth,” says Carsten Grtz Petersen.

“I am looking forward to focusing my efforts on expanding our Capital Markets services and quality, which has become an even more important sector for our clients and our company. In the three years since the merger with Sadolin & Albk, I am delighted to pass on the leadership of our successful business to Carsten, who has created great customer relationships and an entrepreneurial team in Denmark,” says Peter Winther.

2021 2022 KEY FIGURES

2.1 percent 3.8 percent 2.1 percent 3.8 percent 2.1 percent 3.8 percent 2.1 percent

2.4 percent 4.4 percent private consumption

Exports are up 4.2 percent while imports are up 6.7 percent.

40.7 percent 41.3 percent debt/GDP

-3.3 percent -0.9 percent public balance/GDP

House Prices Have Increased By 10.4 Percentage Points To 3.2 Percentage Points

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