Shift on Copenhagen housing market as apartment prices start to fall
Apartment prices are falling in Copenhagen, in Frederiksberg and in Aalborg, but are still on the rise in Aarhus.
Apartment prices are falling in Copenhagen, in Frederiksberg and in Aalborg, but are still on the rise in Aarhus.
After several years with price increases, the Copenhagen apartment market has seen a shift.
New numbers from real estate website Boligsiden show that the average price for an apartment in the capital fell by 0.5 percent in August compared to July.
According to Birgit Daetz, housing economist at Boligsiden, these numbers did not come as a surprise.
“Fewer apartments have sold, and demand is growing fast, listing prices are being reduced, and it’s taking longer to sell apartments. It therefore isn’t surprising that prices are adjusting to the new reality,” she said.
However, Daetz pointed out that apartment prices have increased by more than 40 percent in the past two years.
It’s not just Copenhagen’s apartment market which has seen a dip between July and August. Frederiksberg and Aalborg had similar experiences, with dips of 0.5 percent and 2.7 percent respectively.
Prices for detached houses, terraced houses, and summerhouses have also increased.
