Housing prices in Denmark rise for fourth month in a row
The Danish housing market continued its upward trend in June, with prices experiencing a modest rise for the fourth consecutive month.
Notably, condominiums have witnessed the highest average price increase, according to recent data from Boligsiden, a statistical aggregator for real estate agents.
The average sales prices for apartments increased by one percent in the previous month. On average, the price per square meter for condominiums now stands at 33,388 kroner.
The primary driving force behind this price surge is the decreasing supply of condominiums, particularly in Copenhagen, according to housing economist and communications director at Boligsiden Birgit Daetz.
Daetz said that the combination of strong demand and limited availability of apartments has led to rising prices.
Prices still lower compared to last year
However, compared to June of the previous year, the current prices are significantly lower, with a reduction of as much as 6.8 percent.
This 12-month decline can be attributed to substantial price drops experienced during the autumn and winter seasons of last year, which have not fully rebounded yet in most of the country.
Additional data from Boligsiden reveals a 0.5 percent increase in the sale prices of houses in June, while holiday homes experienced a slightly higher growth rate of 0.6 percent.
READ MORE: Property market: What buyers in Denmark can expect over the coming months
The steady increase in housing prices, particularly in the condominium segment, indicates a challenging market for prospective buyers due to the limited availability of housing stock.
As the supply-demand gap in Denmark persists, it remains to be seen how these trends will impact the housing market in the coming months.
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Notably, condominiums have witnessed the highest average price increase, according to recent data from Boligsiden, a statistical aggregator for real estate agents.
The average sales prices for apartments increased by one percent in the previous month. On average, the price per square meter for condominiums now stands at 33,388 kroner.
The primary driving force behind this price surge is the decreasing supply of condominiums, particularly in Copenhagen, according to housing economist and communications director at Boligsiden Birgit Daetz.
Daetz said that the combination of strong demand and limited availability of apartments has led to rising prices.
Prices still lower compared to last year
However, compared to June of the previous year, the current prices are significantly lower, with a reduction of as much as 6.8 percent.
This 12-month decline can be attributed to substantial price drops experienced during the autumn and winter seasons of last year, which have not fully rebounded yet in most of the country.
Additional data from Boligsiden reveals a 0.5 percent increase in the sale prices of houses in June, while holiday homes experienced a slightly higher growth rate of 0.6 percent.
READ MORE: Property market: What buyers in Denmark can expect over the coming months
The steady increase in housing prices, particularly in the condominium segment, indicates a challenging market for prospective buyers due to the limited availability of housing stock.
As the supply-demand gap in Denmark persists, it remains to be seen how these trends will impact the housing market in the coming months.
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