Denmark Housing Prices: What Should You Expect in 2024

Boat port in front of colorful houses in Nyhavn, Denmark

Are you an aspiring homeowner eyeing Denmark’s city center? The Danish housing market of 2023 holds both promise and consideration. Wondering about selling prices, property taxes, and navigating the Danish real estate market, including housing prices-Denmark?

The average house prices in Denmark in 2024 are expected to experience a decrease of approximately 3.6 percent compared to previous years.

In this brief guide, we’ll show what to expect and how to make informed decisions in the Denmark housing landscape, including the Denmark housing market selling price, property taxes, and tenant rental contracts.

Whether you’re a traveler settling down or an expat seeking a place to call home, understanding the ins and outs of the real estate market can set you on the right path.

Read this before moving to Demark: Cheapest Places To Live in Denmark

Average House Prices in Denmark in 2024

House Prices visualization with a court judge's mallet and a miniature house

According to Statista, the average house prices in Denmark in 2024 are expected to experience a decrease of approximately 3.6 percent compared to previous years. This decline in housing prices is significant and can be attributed to various factors affecting the Danish housing market.

For instance, in major cities like Copenhagen’s city center, where property demand is traditionally high, the selling prices of houses are expected to reflect this overall downward trend.

Potential buyers can explore affordability with decreasing single-family house prices, averaging around 2.6 million Danish kroner per unit.

Property owners in Denmark may need to consider the implications of this decline in housing prices on their property tax assessments. The decrease in property values could potentially reduce property tax burdens for homeowners across the country.

Furthermore, those interested in buying property closely monitor the Danish housing market. The housing price dip offers investment opportunities and affordable dream homes for buyers in today’s real estate market.

Property buyers and owners need to evaluate the state of building insurance in this evolving market. As housing prices fluctuate, insurance policies may need adjustments to reflect the property’s current value accurately.

Additionally, for those interested in holiday homes, the declining housing prices could make buying a holiday property in Denmark more accessible and attractive.

As prices decrease, potential buyers might be more likely to enter the market and invest in a vacation property.

Trends in the Danish Real Estate Market

In recent times, the Danish real estate market has witnessed notable trends that have significantly impacted buying, renting and housing dynamics.

In August 2023, Denmark’s home prices soared by 79.1%, reaching a median of $210K, as reported by redfin. This surge in selling prices has affected various aspects of the market, including the affordability for potential buyers and the dynamics of rental agreements.

Despite the steep prices, Denmark’s largest mortgage provider predicts a moderate decrease of 8.2% from the peak in house prices. This projection suggests a relatively stable market, even with the looming decline, providing some assurance to potential buyers and sellers.

Planning to Work in Denmark? Check this article: What Is A Good Salary in Copenhagen, Denmark? [2023]

Rapid Increase in Interest Rates

One significant factor contributing to Denmark’s declining housing market is the rapid interest rate increase.

Danish homeowners’ interest rate, including the administration rate, landed at 3.01 per cent in July 2023.

Rising interest rates challenge loan availability, affecting buyers’ purchasing power and shaping Denmark’s housing market.

But in light of these challenges in purchasing property, the rental market is expected to remain robust in 2023.

Rising interest rates have deterred some from buying, leading to increased demand for rental contracts and agreements. This trend highlights the value of rentals for flexible housing or for those not ready for a permanent commitment.

Considering property investment? The evolving Danish market offers opportunities for better deals on homes and holiday properties. Sellers may be more inclined to negotiate prices or offer better terms to attract buyers in the midst of the declining market.

Running costs, including garbage removal and other civil affairs, are important considerations for homeowners and tenants. Potential buyers should carefully assess these costs to determine a property’s overall affordability and sustainability.

My opinion

In the face of the housing market’s fluctuations, some may consider exploring social housing options to ensure a stable living situation with controlled costs. Rising interest rates may prompt banks to expand real estate offerings to meet changing homebuyer needs.

Also read: Best Used Car Websites in Denmark

Available Options at Denmark’s Housing Market

Farm house with a beautiful garden in the front lawn

Denmark’s housing market has a diverse range of properties available for prospective buyers, each catering to different preferences and needs.

Here are some of the most common types:

Single-family houses

Single family house with muted colors motif

According to Statista, the average purchasing price for single-family houses in Denmark was roughly 2.6 million Danish kroner per unit as of 202.

Single-family houses are standalone properties that offer an appealing blend of privacy and ample space, making them highly sought after, especially by families. Typically featuring a yard or garden, these houses provide a great environment for children to play and for gardening enthusiasts to cultivate green spaces.

Prospective buyers often use purchase agreements to secure a property they can customize to suit their unique needs and preferences.

Pros of Buying a Single-family House:

1. Ownership and Equity

Purchasing a single-family house allows you to own the property and build equity over time, providing a sense of stability and financial growth. As an EU citizen, you can invest in housing and potentially benefit from property appreciation.

2. Space and Privacy

Single-family houses often offer ample space, measured in square meters, allowing for comfortable living and privacy.

Unlike rental housing, you are not subject to the rules and regulations of a landlord, giving you the freedom to modify the property according to your preferences.

3. Ideal for Families

These properties are well-suited for families, especially in bigger cities, as they provide a yard or garden where children can play.

Owning a single-family house eliminates concerns about waiting lists or sudden changes in rental costs, providing stability in housing for your family.

Cons of Buying a Single-family House:

1. Financial Commitment and Upfront Costs

Purchasing a property requires a significant financial commitment, including the purchase price, government fees, and potential loan interest.

Unlike renting, where you can spread out your housing expenses over time, buying a property often necessitates a substantial investment upfront.

2. Responsibility for Maintenance and Repairs

As a homeowner, you must maintain and repair the property. This can involve additional costs and time commitments, which can be challenging, especially for those with limited income or busy schedules.

For example, if a major repair is needed within the first six months of purchase, it could strain your finances.

3. Limited Flexibility and Mobility

Buying a single-family house ties you to a specific location. If you need to relocate, selling the property quickly or without potential financial loss can be more challenging than renting.

In cities where job opportunities fluctuate, being tied to a purchased property may limit your career and housing flexibility.

Also read: What Is A Good Salary in Denmark? [2023]


A big yellow villa with a spacious backyard located at the countryside

Based on a report by, properties in Denmark Villas had an overall average price of £312,556 over the last year.

Villas represent the epitome of luxury in the realm of single-family houses. They are spacious, multi-story dwellings with upscale amenities such as swimming pools, expansive gardens, and sometimes even private gyms or home theaters.

Villas offer opulent living, appealing to those who seek both comfort and grandeur in their residence.

Pros of Buying a Villa:

1. Luxurious Living

Owning a villa provides a luxurious living experience, often equipped with high-end amenities like swimming pools, gardens, private gyms, and home theaters. For those with the financial means, this offers a prestigious residence within the city or in a preferred location.

2. Potential for High Returns

Villas often appreciate value, making them a potentially profitable investment in the long run. When strategically placed in a sought-after area, villa prices can surge, offering the potential for substantial ROI upon resale.

3. Privacy and Space

Villas offer ample space and privacy, distinguishing them from apartments or city residences. The expansive layouts and well-maintained gardens provide a serene living environment, appealing to those seeking a more secluded and peaceful lifestyle.

Cons of Buying a Villa:

1. High Acquisition Costs and Loans

Acquiring a villa often requires substantial money due to the high cost associated with these properties. Buyers might need to secure loans, potentially at high-interest rates, making the acquisition more expensive in the long term.

Non-Danes, for example, may face additional challenges in securing favorable loan terms.

2. Maintenance Expenses

Maintaining a villa, including maintaining amenities like swimming pools and gardens, can incur significant costs. Ongoing expenses can strain tight budgets for homeowners. Consider maintenance costs when buying a villa.

3. Limited Resale Market

The market for villas can be relatively limited compared to apartments, especially in certain cities or regions. Selling a villa can be time-consuming; finding a willing buyer at the desired price might extend the selling period.

Related article: Where to Stay in Copenhagen

Terraced houses

Colorful terraced houses in Denmark

According to, the average price per square meter for a terraced house in Denmark is 13,673 DKK.

Terraced houses, also known as row houses, are an excellent practical choice, especially in urban areas where space is at a premium. These houses are attached to one or more other houses in a row, sharing walls and sometimes even a common architectural style.

Townhouses offer affordability, making them ideal for urban living, catering to those valuing both city life and cost-effectiveness.

Some of the pros and cons of buying a terraced house in Denmark are:

Pros of Buying Terraced Houses:

1. Cheaper

Terraced houses are usually cheaper than detached houses, as they have lower construction and maintenance costs. You can get a good deal on a terraced house in some bigger cities, such as Copenhagen, Aarhus, or Odense.

2. Energy efficient

Terraced houses are more energy-efficient than detached houses, as they share walls and roofs with other houses. This means they have less heat loss and lower heating bills. They also have a smaller environmental impact, using less land and resources.

3. More sociable

Terraced houses are more sociable than detached houses, as they are closer to your neighbors and the community. You can enjoy the benefits of living in a vibrant and diverse urban area, with easy access to public transport, shops, restaurants, and cultural activities.

Cons of Buying Terraced Houses:

1. Have less space and privacy

Terraced houses are more restrictive than detached houses, as they have less space and privacy. You might have to deal with noise, smells, or disputes from your neighbors.

You also have less freedom to modify or renovate your property, as you must follow the rules and regulations of the housing association or the local authority.

2. Difficult to buy

Terraced houses are more difficult to buy than detached houses, as they have more legal and financial complications. Terraced houses may require a larger deposit and longer mortgage.

You also pay greater land tax, property value tax, registration fee, lawyer’s fee, real estate agent’s commission, building insurance premium, and maintenance fee.

3. More restrictions

Terraced houses are more regulated than detached houses, as they have more rules and restrictions on who can buy them and how they can be used. Foreigners must get authorization from the Danish Ministry of Justice to acquire a terraced house in Denmark.

You must also follow the housing association or local authority’s restrictions for renting, pets, parking, and gardening.


Apartment complex in Denmark

As of August 2023, the average cost of a one-bedroom apartment in the city center of Copenhagen was DKK 12,800 per month, while the average cost of a one-bedroom apartment outside the city center was DKK 9,000 per month.

Apartments are individual units within a larger building owned by different residents. They are a prevalent housing choice in urban areas, providing compact and efficient living spaces.

Apartments are often more affordable than standalone houses, making them particularly appealing to young professionals, students, or anyone seeking the convenience of city living without the financial commitment of a full-sized house.

Pros of Buying an Apartment:

1. Affordability and Cost-Effectiveness

Apartments are often more affordable than standalone houses, making them an attractive option for individuals looking to enter the housing market without a substantial financial commitment. The initial cost and ongoing expenses associated with an apartment are typically lower than those of a house.

2. City Living Convenience

Apartments are typically located in urban areas, providing easy access to amenities, services, and job opportunities. This makes them an ideal choice for individuals who value the convenience and lifestyle of city living without the maintenance responsibilities of a house.

3. Investment Potential and Demand

Apartments can be a good investment, especially in cities with high demand for housing. Owning an apartment allows you to enter the real estate market and potentially benefit from property appreciation, providing an opportunity for future financial gain.

Cons of Buying an Apartment:

1. Limited Ownership and Control

When you buy an apartment, you’re buying a unit within a larger building and often have limited control over common areas and decisions regarding the building. Homeowners’ associations or landlords may dictate rules and regulations, restricting certain freedoms.

2. Fees and Ongoing Costs

Owning an apartment includes various fees, such as maintenance fees, association fees, and property taxes. These ongoing expenses, in addition to the cost of the apartment itself, can add up over time and impact your overall financial situation.

3. Market Fluctuations and Resale Challenges

The real estate market for apartments can be volatile, affecting the value of your property. Selling apartments differs from houses due to market factors and demand, possibly resulting in longer sales or reduced prices.

Related article: Can You Rent A Car in Europe with US Drivers License?


A white and blue mansion with a wide courtyard

The average price for a mansion in Denmark is 60 million Danish kroner (9 million US dollars), according to Statista. Mansions are awe-inspiring, grandiose houses typically situated in spacious rural or suburban areas. These opulent properties are designed to cater to the desires of wealthy buyers, showcasing historic or architecturally significant features.

Mansions often feature extensive grounds, elaborate interiors, and may include unique elements like ballrooms, private libraries, or breathtaking views, making them a symbol of prestige and luxury.

Pros of Buying a Mansion:

1. Symbol of Prestige and Luxury

Owning a mansion symbolizes prestige and luxury, showcasing a high standard of living and success. Mansions feature grand designs, vast grounds, and unique elements, appealing to those seeking luxury and exclusivity.

2. Extensive Living Space and Amenities

Mansions offer substantial living space with numerous rooms and amenities, such as ballrooms, private libraries, and scenic views. This provides a lavish lifestyle and the opportunity to host events or gatherings in the comfort of your own home.

3. Potential for Appreciation and Investment

Mansions in historic areas or with unique features can be appreciated significantly over time due to desirability. This can be advantageous for investment purposes, yielding substantial returns if the property is sold later.

Cons of Buying a Mansion:

1. High Acquisition and Maintenance Costs

Acquiring a mansion often involves a substantial financial investment due to the high market value of such properties. Additionally, maintaining a mansion, including grounds and specialized features, can incur considerable ongoing costs for upkeep and staff, which may not be feasible for everyone.

2. Limited Market and Longer Selling Periods

The market for mansions is relatively limited, and finding the right buyer can take longer compared to more common properties like houses or apartments. The specific case of the mansion, its location, and its features can influence the time it takes to sell, potentially causing delays in the selling process.

3. Less Flexibility for Relocation

Owning a mansion ties you to a specific residence in a particular location, often in rural or suburban areas. Renting can restrict your ability to relocate for job opportunities or personal reasons, unlike owning property in a city.

Holiday homes

Holiday home in Denmark

Statista said the average purchasing price for holiday houses in Denmark was roughly 1.6 million Danish kroner per unit.

Holiday homes, also known as vacation homes, are strategically located near the coast or in serene rural areas, providing an ideal retreat from the hustle and bustle of everyday life.

These properties are highly sought after by local and foreign buyers looking to escape to a tranquil abode during holidays or weekends. They offer relaxation, recreation, and a change of scenery, a valuable asset for those seeking a getaway from home.

Pros of Buying a Holiday Home:

1. Tranquil Retreat and Change of Scenery

Owning a holiday home provides a peaceful retreat in serene locations, away from the hustle and bustle of daily life. This escape offers a change of scenery and allows you to unwind and rejuvenate, making it an ideal place for relaxation and recreation.

2. Potential Rental Income

When not using the holiday home, owners can rent it out to visitors, generating additional income. This can help offset the costs associated with the property, making it a potentially lucrative investment, especially in popular tourist destinations.

3. Versatile Usage and Flexibility

Holiday homes offer versatility, allowing you to use them for vacations, weekend getaways, or even as a potential future residence. This flexibility provides the option to tailor the use of the property according to your preferences and lifestyle.

Cons of Buying a Holiday Home:

1. Seasonal Use and Limited Occupancy

Holiday homes are typically used seasonally, especially in coastal or rural areas. This limited occupancy can mean the property remains unused for a significant part of the year, potentially affecting the return on investment and overall utilization.

2. Regulations and Government Policies

Governments in certain countries may impose specific regulations on non-residents, particularly non-dane, regarding property ownership, usage, or taxes. These regulations can impact the purchase process and the time you can stay in the country, potentially requiring approvals or additional paperwork.

3. Financial Considerations and Costs

Purchasing and maintaining a holiday home involve various costs, such as property taxes, maintenance, insurance, and utilities. Additionally, non-residents may face certain financial implications or tax considerations that must be carefully evaluated and planned for.

Also read: The Cost of Owning a Car in Denmark: Guide 

Permanent Residence Options: Choosing Between Buying and Renting

Person thinking while facing the laptop screen

When considering permanent residence options in Denmark, individuals must weigh the pros and cons of buying or renting property. This decision often involves carefully considering financial aspects, housing regulations, and personal preferences.

When to Buy a House?

Person handing house keys to the person buying the house

In Denmark, acquiring a property often necessitates exploring bank loans. Prospective homeowners can approach financial institutions to secure loans for purchasing a house or an apartment. The loan process involves evaluating one’s financial capability and determining the amount that can be borrowed.

To better help you, here are the different instances where buying a house is the right decision:

  1. Stable Income and Financial Preparedness: When you have a stable and consistent income that allows you to comfortably cover the mortgage payments, associated costs, and still maintain your lifestyle, it may be an opportune time to buy a house.
  2. Long-Term Residence Plans: If you plan to reside in Denmark for an extended period, buying a house offers stability and potentially long-term cost savings compared to renting. Owning a property aligns well with those looking for a permanent residence.
  3. Favorable Interest Rates and Housing Market Conditions: During periods of low-interest rates and a stable or favorable housing market, it may be an ideal time to consider buying a house. Lower interest rates can lead to more affordable loans and lower monthly mortgage payments.
  4. Building Equity and Investment Growth: Buying a house is a form of investment that can potentially grow in value over time. If the housing market is expected to appreciate, purchasing a property can help you build equity and potentially gain profits upon resale.
  5. Desire for Personalization and Control: Owning a house grants the freedom to customize your space, making property decisions with autonomy and personalization in mind

When to Rent a House?

Small black board with the word written in it

Individuals seeking a more flexible living arrangement might opt for a rental contract or agreement. Renting is a popular choice in Denmark, especially in urban areas. Tenants can enter into a rental contract with a landlord or a company that manages rental properties.

When to rent a house? Here are the best examples:

1. Short-Term Residence or Temporary Stay

If you plan to reside in Denmark for a short duration, such as a few years or less, renting a house offers the flexibility to easily relocate when needed without the long-term commitment associated with property ownership.

2. Career or Job Uncertainty

If your job or career involves frequent relocations or has an element of uncertainty regarding your stay in a particular location, renting provides the flexibility to adapt to changing circumstances without the constraints of homeownership.

3. Financial Constraints or Limited Savings

Suppose you do not have substantial savings for a down payment or are currently facing financial constraints. In that case, renting allows you to access a suitable living space without the immediate large financial commitment required for purchasing a house.

4. Exploring the Neighborhood or Area

Renting allows you to experience living in a specific neighborhood or area before committing to a long-term purchase. This way, you can assess the locality, amenities, and overall lifestyle to determine if it meets your preferences and needs.

5. Flexibility in Housing Needs

Renting allows you to choose a house that suits your current needs, whether a small apartment for one person or a larger house for a family. It allows you to adjust your housing according to your changing circumstances.

Note: Social housing is a viable alternative for those seeking affordable housing options. The government and civil affairs manage social housing initiatives, ensuring that a portion of housing is accessible to individuals with varying financial capabilities. This aims to maintain a diverse housing market and support the populace.

What’s the Best Choice?

The decision to buy property or rent often revolves around financial considerations. Buying a property requires substantial money for the purchase, down payment, and other associated costs.

On the other hand, renting typically involves a more manageable monthly payment, making it accessible to a broader range of individuals.

Tenants who rent pay a monthly rent to the landlord or rental company. The rental amount is agreed upon in the rental contract and covers the use of the residence. This arrangement allows for flexibility and mobility, as tenants can easily change their housing situation based on their needs.

In Denmark, it’s essential to understand the housing market and evaluate the advantages of each option. Purchasing property is a long-term investment, often leading to ownership in about five years or more, as loans are paid down and property values appreciate.

Related article: Top 17 Bike-Friendly Cities In Europe

Final Thoughts About Denmark Housing Prices

In conclusion, the Denmark housing market is subject to fluctuations influenced by various factors, including interest rates, market conditions, and economic changes. Prospective buyers and renters should carefully assess their financial situation, long-term goals, and lifestyle preferences when making housing decisions.

For those considering homeownership, stable income, favorable interest rates, and long-term residence plans can make it the right time to buy. However, renters may find flexibility, cost-effectiveness, and suitability for short-term stays compelling reasons to rent.

Understanding the Danish housing market dynamics is essential for making informed choices. To know more about this topic and stay updated on Denmark’s housing landscape, click the link to the links throughout the article for more information.

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