Copenhagen ($348/sqft, 7.6% vacancy) and London ($121/sqft, 8.6% vacancy) compete on different axes: Copenhagen on rent and tax and London on talent depth.
Copenhagen ($348/sqft, 7.6% vacancy) and London ($121/sqft, 8.6% vacancy) compete on different axes: Copenhagen on rent and tax and London on talent depth.
| Metric | Copenhagen | London |
|---|---|---|
| Region | EMEA | EMEA |
| Country | Denmark | United Kingdom |
| Class A rent (USD/sqft/yr) | $348 | $121 |
| Class A rent (local) | 2400 DKK | 95 GBP |
| Vacancy | 7.6% | 8.6% |
| Trend | flat | rising |
| Prime yield | 4.4% | 4.5% |
| Premium flex / seat / month (USD) | $720 | $1,380 |
| Submarkets covered | 5 | 7 |
| Corporate tax | 22% | 25% |
| Metric | Copenhagen | London |
|---|---|---|
| Typical term | 5 yrs | 10 yrs |
| Typical rent-free | 4 mos | 24 mos |
| Lease norms | Net leases. 5-7 year terms with break options. Free rent of 3-6 months and TI of DKK 800-1,500/sqm typical on a 5-year deal. | London leases are predominantly Full Repairing and Insuring (FRI). Tenant pays service charge and is responsible for dilapidations on lease end. Rent reviews to open-market rent every 5 years are standard. Rent-free periods of 18-30 months on a 10-year term are typical, with 'capped' rent-free for break-clause certainty. Personal guarantees are uncommon for institutional tenants; rent deposits are common for younger covenants. |
| Tax note | 22% Danish corporate income tax. R&D tax credit available. Denmark has a structural participation exemption for cross-border dividends and capital gains. Joint Danish-Swedish payroll tax considerations apply for cross-Øresund staff. | UK corporation tax is 25% (19% small profits rate). Business rates are a major occupancy cost — ~50% of rateable value annually, levied separately from rent and service charge. |
| Metric | Copenhagen | London |
|---|---|---|
| Talent index (0–100) | 85 | 96 |
| Talent note | Deep pharma, shipping, design, and clean tech talent. Strong feed from University of Copenhagen, DTU, and Copenhagen Business School. English-fluent professional base supports international corporate HQs. | Largest financial-services and technology talent pool in EMEA. Average all-in compensation indexes 96 vs. New York's 100. |
Copenhagen: Metro M1-M4 (M3 City Circle Line opened 2019), S-tog suburban rail, and bus. Copenhagen Airport (CPH) is connected via Metro M2 (~14 minutes to Nørreport). Copenhagen is highly bicycle-friendly.
London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium.
London is the cheaper Class A market on a USD basis.
London has the deeper talent index (96/100 vs 85/100).
Copenhagen has the lower headline corporate tax (22% vs 25%). Local incentives can change the effective rate materially.
Copenhagen typical term is 5 years with 4 months free; London runs 10 years with 24 months free.
Copenhagen: Metro M1-M4 (M3 City Circle Line opened 2019), S-tog suburban rail, and bus. Copenhagen Airport (CPH) is connected via Metro M2 (~14 minutes to Nørreport). Copenhagen is highly bicycle-friendly. London: The Elizabeth Line transformed cross-London commute times. Heathrow to Liverpool Street is 35 minutes; Paddington to Canary Wharf is 17 minutes. Crossrail-adjacent assets command a measurable rent premium.
Score Copenhagen, London and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.