You are considering settling in a place that offers you everything – pleasant climate, interesting places, satisfied people. Maybe the capital of Denmark is the right place for you? This small country with a very high standard meets all the prerequisites for a good and quality life. Moreover, during the last two decades, the capital of Denmark, Copenhagen, has always been at the top of the list of the most pleasant places to live.
However, before you make a decision, you need to know if you can afford to live in the capital of Denmark. So we will try to answer the question: How much does it cost to buy a house in Copenhagen?
Land Of Fairy Tales
Some people consider Denmark to be the Land of fairy tales because it has been declared the country where the most satisfied and happy people in Europe live. Some research even proved this claim. However, what we do know is that this is a country where some of the most beautiful fairy tales in the world were born. The famous Ice Queen, The Ugly Duckling, and The Little Mermaid are fairy tales that came out of the pen of the most famous Danish writer – Hans Christian Andersen. The Little Mermaid even has its own monument in this city – which everyone who comes to this country simply has to visit. The statue of the Little Mermaid sitting on a rock and looking at the ships was made in bronze by the famous sculptor Edward Eriksen, and today it is a recognizable landmark of the city.
Scandinavian Charm Of Copenhagen
Denmark is known as the smallest country in Scandinavia, but also as a country where people live very well. With a population of just over 5 million, it is not a very densely populated place. The capital, Copenhagen, is without a doubt the most attractive part of this country. It is a city that has its own spirit and charm. The capital of Denmark is considered a cultural, cheerful, and lively cosmopolitan city – which combines both traditional and modern. This is a city of beautiful architecture, with cobbled squares – and at the same time, it follows all the latest trends. In addition to old and beautifully maintained buildings, here you will find modern architecture and design.
The City Of Museums
Copenhagen is also a museum city. You can see museums of art, sculpture, and history – but also many specialized, intriguing, or at least unusual museums that cover all topics, from erotic to porcelain. The Danes themselves are very hospitable. This is a nation that likes to relax even during the working day. You can always see them in some of the many cafes and bistros in Copenhagen. And just when you think you’ve discovered Copenhagen – you’ll realize that just minutes from downtown, there are pleasant lakes, sandy sea beaches, and wooded parks. So, it’s an ideal place for a good life.
Buying A House In Copenhagen
If you have decided to settle in Copenhagen for work or any other reason, we will tell you that you have made a good choice. However, if you want to buy a property in Denmark, you must also meet certain prerequisites. Among these preconditions, we must mention the most important ones. Namely, to buy a property, you must live for at least 5 years in Denmark or be employed in this country. In addition, foreigners cannot buy real estate located in the coastal resort areas. Ultimately, you have to pay fees, taxes, so lawyer services are advisable. According to eboligadvokat.dk, when buying real estate in Copenhagen, it is best to have outside help in the form of a reliable real estate lawyer.
Then you can be sure that you will not miss any important rules or violate any of the applicable regulations.
Real Estate Prices In Copenhagen
As in all other European and non-European cities – real estate prices depend on several factors. The most important factors are location, age of construction, square footage, condition and equipment of the property, etc. The fact is that real estate prices in Denmark have broken all records in recent years – even those set in 2007 before the onset of the global economic crisis. However, economic experts agree on one thing – and that is that the nominal value of the real estate is now higher, but the true value of the real estate is actually lower than during 2007. How is that possible? In the first decade of the 2000s, inflation contributed to this, as did risk assessments of banks investing in mortgages.
Today, the economic situation is much more stable, even though we have all faced the coronavirus pandemic. Therefore, we can say that today the prices are higher than in 2007 – but the purchasing power of Danes is at a much higher level, while mortgages on housing loans are much lower. So today in Copenhagen, the price of a house of 140-150 square meters – ranges between 250,000-280,000 USD.
What Else Do You Need To Know When Buying A House In Copenhagen?
Copenhagen is a city that is divided into several municipal regions. Therefore, price differences are inevitable. Certainly, the closer you are to the city center – the price will be higher. On the other hand, it is important to note that each municipality has its own rules regarding the amount of certain taxes, etc. In addition, it is important to mention the insurance of the change of ownership. It is an insurance package that covers deficiencies that may not have been noticed or listed in the property appraisal or a contract. In this regard, it is far better to decide to buy a house than an apartment in Copenhagen. Why?
Because when you buy a house, you are entitled to this insurance package and compensation in case something is not recorded from the damage. On the other hand, when you buy an apartment – it is considered that you are not a suitable candidate for this type of insurance.
The Bottom Line
If you are planning to move to the capital of Denmark, you must know in advance what awaits you when it comes to the prices and conditions of buying and selling real estate. We hope we have helped you at least a little – and we want you to experience your Scandinavian fairy tale. Good luck!