Copenhagen Property Market and Real Estate Guide
Copenhagen is one of the most expensive cities in Europe, so it's little wonder that the majority of Danes rent accommodation here rather than buy. New housing in areas such as the Amager precinct offer high density living at reasonable prices, but only the best-heeled investor could consider buying property in Copenhagen's Inner City.
Public transport in Copenhagen is excellent and makes all areas of the city accessible. Less handy is the lack of elevators in most of the city's mid-rise buildings. Any old apartment block seven stories or less will require upper-floor dwellers to walk several flights in each direction, every time they enter or leave their apartment.
The Denmark property market is vibrant and booming-property prices have swelled by around 15 percent annually for the past ten years. An annual property tax is mandatory but reasonable, and mortgage lending rates are very low. Most foreign investors buy through an agent, since properties in demand tend not to stay vacant for long.
Renting Serviced Apartments
Copenhagen is famous for its diversity. Serviced apartments here can be antique salons inside beautiful old buildings, or they can be very modern and compact business suites with flat screen televisions and automatic curtains. Most serviced apartments are in central Copenhagen, to serve delegates of conferences and meetings.
Prices are quite competitive and a serviced apartment for a one-week stay will usually be about a third less than five or seven nights in a comparable hotel. Lease periods generally start at one week, and a one-week deposit is required at check-in. Most serviced apartments contain a small kitchen and a private bathroom, with maid turnover service every other day, on request.
Buying Apartments and Houses
Foreigners are able to invest in property in Denmark, including in Copenhagen, in much the same way Danes are. A property tax of one percent of the property value is payable annually. Foreigners do not have to be EU residents to be able to buy or rent property in Copenhagen.
While properties in the Inner City and the likes of Frederiksberg, Osterbro and Langelinie are among Copenhagen's most desirable, their prime locations come with a price tag. Instead many expat families look for property away from the centre and rely of public transport.
The city's property market is very healthy and has been consistently so for the past decade. Properties hold their value very well, though resale to Danes is not assured since the ratio of property prices to average wages is imbalanced in expensive Copenhagen. For this reason, foreign investors often choose to long-term rent their properties to locals.
Real Estate Agents
Copenhagen is a modern, busy city and most professionals, including real estate agents, are known for being multilingual and speaking English. Leases and deeds will be drawn up in Danish, however.
Check out the following Copenhagen real estate agents:
Address: Ejby Industrie 38, Glostrup, DK-2600, Denmark, DK
Tel: +45 43 33 81 00
This Copenhagen real estate agency has several decades of experience and a large, diverse portfolio.
JKE Estate Agents
Address: Frederiksborggade 1, 3.Sal, Copenhagen, DK-1360, Denmark, DK
Tel: +45 70 22 25 22
This real estate agent has a strong portfolio of commercial business properties including entire buildings and off-the-plan sales of offices in new constructions.
Address: Bredgrade 65A, III, Havehuset, Copenhagen, DK-1260, Denmark, DK
Tel: +45 70 22 09 06
This Copenhagen realtor has 20 years of experience selling and leasing to residents and foreign nationals.