The number of apartments for sale in Copenhagen increased by 20.6 percent over the last 12 months, with the figure reaching 30 percent for the area around the capital, according to real estate site boligsiden.dk.
“That is a significant increase which gives more competition for buyers, so they can push sellers to give bigger reductions in price,” Boligsiden analyst Birgit Daetz said via a press statement.
“This has resulted in us seeing small falls in prices for the last three consecutive months,” Daetz said.
The greater Copenhagen region (Region Hovedstad) currently has the highest number of properties for sale since 2011.
The increase is partly connected to sales of property still in construction.
Daetz said that an increase in availability may be related to high prices in recent times thinning the field of buyers, while tighter mortgage regulation introduced at the beginning of the year may also have forced some prospective housebuyers to look elsewhere.