
Record low interest in home buying in 2024
January saw a record low in home buying interest, with only 1874 loan offers for residential and holiday homes, the lowest since 2017. According to Peter Jayaswal, Director of Mortgage and Real Estate Financing at Finance Denmark, this is partly due to a seasonal decline in interest during winter months and sustained high levels of mortgage rates and property prices. The largest drop was in Copenhagen and its surrounding municipalities, with a 66% decrease compared to December 2023. The new property tax system, effective January 1st, likely caused many to accelerate their home purchases, especially in Copenhagen, to benefit from a tax discount. Apartment owners in Copenhagen are expected to be hit with higher property taxes in 2024 due to the new system.