The City
Fresh numbers from the Danish Mortgage Banks Association show that the status of the home market in Denmark varies.
The housing market in Copenhagen is in steep rebound but is still struggling in other parts of the country. qatar property
The June figures from the Danish Credit Bank Association (Realkreditrådet) show that the average cost for Copenhagen home of 140 sq.m. is 4.2 million crowns ($772,370). That's 330,000 kroner more than last year ($60,200). Home owners in the suburbs of Copenhagen ask for more homes with prices up by 88,000 kroner ($16,050).
However, the housing market paints a different picture outside the capital. On Funen Island, prices have fallen by 42,000 crowns ($7,660) from the previous year, while prices have fallen by 23,000 crowns in southern Jutland ($4,195).
"Home prices are primarily higher in and around the capital," said Jen Knøsgaard of Realkreditrådet. "There has been also a slight increase in home prices in East Jutland, the only region in Jutland where that is the case. Over a longer period, apartment prices have risen sharply. The demanding prices are six percent higher on average than last year, with the biggest increases in Copenhagen and Aarhus."
There are currently 65,005 properties for sale in Denmark, an increase of 1,280 compared to last year. Homes sit on the market ten months on average before they are sold. This figure has not changed much in comparison to last year, although regional differences exist.
"In general homes for sale in Zealand sold faster than a year ago, notably in northern and eastern Zealand. "We see the other way around in Jutland," said Knøsgaard. In some parts of Denmark, Poland and Ukraine account for as many as one in four homebuyers. The immigrants settle in areas that have been affected by the exodus of young people.
As never before, Ukrainians and Poles buy houses in Denmark, estate agents report.
Due to the large number of buyers from Eastern Europe in middle and center Jutland, in southern Zealand and in the southern islands of Lolland-Falster – areas that have long had difficulty with decreasing populations – home sales are booming.
Estate agent Ingvard Frandsen in Vildbjerg, Jutland, told DR, that this year's domestic buyers in the region were one in four, both from Poland and Ukraine.
"We were incredibly glad to find buyers of villa houses in the 1970s," he said.
The majority of foreign buyers are relatively young and have spent five to seven years living and working in Denmark.
"Immigrants are as well represented today in the housing market as Danes," said Jan Nordmann, EDC's property agency spokesperson to the DR.