Denmark's real estate market sees rise in available houses
The housing market in Denmark is seeing a notable surge in available houses for sale.
As of Wednesday, Boligsiden, an independent housing website, reported that the number of houses for sale across the country has surpassed 32,000, marking the first time since the start of 2020.
Over the past month, there has been a 3.7 percent increase in housing supply in Denmark, resulting in a total supply that is 23 percent higher compared to the same period last year.
This growth offers prospective home buyers in Denmark a wider selection to consider.
Approaching 2019 levels
The number of houses for sale in Denmark is slowly approaching the level of 2019, when there were just under 37,000 houses on offer.
According to Sebastian Kaldahl, a housing economist at the interest organization Dansk Industri, this is good news for people who want to use the summer holidays to find a new home, the Ritzau news agency reports.
"Buying a home is largely about needs and preferences, and when there is more to choose from, there is also a greater chance of finding the perfect home," he said.
The increase in supply also means that buyers are in a stronger negotiating position, and this could slow down price increases, Kaldahl said.
Fewer apartments
However, compared to the same time last year, there are overall fewer apartments for sale.
"That is somewhat atypical, and it is mainly due to the development in the Municipality of Copenhagen," Birgit Daetz, housing economist and communications director at Boligsiden, said.
There are currently 21 percent fewer apartments to choose from in the capital area compared to the same time last year.
"At the same time, we see a slight increase in commercial activity nationwide, so the interest in buying an apartment still seems to be present. But with the falling supply, it will be more difficult to find the home of your dreams," Daetz said.
According to Sebastian Kaldahl, this will particularly affect first-time buyers.
"They risk being squeezed by both falling apartment supply, rising prices, and expensive home financing," he said.
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As of Wednesday, Boligsiden, an independent housing website, reported that the number of houses for sale across the country has surpassed 32,000, marking the first time since the start of 2020.
Over the past month, there has been a 3.7 percent increase in housing supply in Denmark, resulting in a total supply that is 23 percent higher compared to the same period last year.
This growth offers prospective home buyers in Denmark a wider selection to consider.
Approaching 2019 levels
The number of houses for sale in Denmark is slowly approaching the level of 2019, when there were just under 37,000 houses on offer.
According to Sebastian Kaldahl, a housing economist at the interest organization Dansk Industri, this is good news for people who want to use the summer holidays to find a new home, the Ritzau news agency reports.
"Buying a home is largely about needs and preferences, and when there is more to choose from, there is also a greater chance of finding the perfect home," he said.
The increase in supply also means that buyers are in a stronger negotiating position, and this could slow down price increases, Kaldahl said.
Fewer apartments
However, compared to the same time last year, there are overall fewer apartments for sale.
"That is somewhat atypical, and it is mainly due to the development in the Municipality of Copenhagen," Birgit Daetz, housing economist and communications director at Boligsiden, said.
There are currently 21 percent fewer apartments to choose from in the capital area compared to the same time last year.
"At the same time, we see a slight increase in commercial activity nationwide, so the interest in buying an apartment still seems to be present. But with the falling supply, it will be more difficult to find the home of your dreams," Daetz said.
According to Sebastian Kaldahl, this will particularly affect first-time buyers.
"They risk being squeezed by both falling apartment supply, rising prices, and expensive home financing," he said.
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