Fewer, costlier apartments for sale than last year

In November, the supply of apartments and houses in Denmark has decreased, with a notable 14.7% drop in available apartments compared to the previous year, particularly in Copenhagen and Frederiksberg. The surge in apartment offerings from summer to November 2023 is attributed to a transition to a new housing tax system, prompting some owners to secure a tax discount by purchasing before the change. Contrary to expectations of a cooldown in demand post-high activity prior to last year’s year-end, the market remained strong, leading to a falling supply and rising prices. By November this year, a typical 85 square meter apartment cost approximately 3.6 million kroner, marking a 4.5% increase over a year. Improved purchasing power, a solid job market, and stable interest rates drive this robust housing market, with Copenhagen and Frederiksberg pulling the national average upward, as apartments there average about 5.8 million kroner for 85 square meters.