Sunday, January 22, 2023

Houses For Sale In Copenhagen Denmark

Are There Any Rules For Buying Property In Denmark As A Foreigner

At home in Copenhagen | DW English

Despite the countrys reputation for liberalism, there are many restrictions on foreigners buying property in Denmark. It can be quite difficult, as there are many conditions youll need to meet.³ Youll need to:

  • Have lived in Denmark previously for a period of five years or more
  • Be currently working in Denmark or have a valid residence or business permit .

Youll also need to seek permission from the Danish Department of Civil Affairs.

If you meet both of these conditions, youll then need to choose the area you want to buy in very carefully. This is because some areas have special restrictions on foreign ownership, primarily to protect some regions from being overrun by property owners from outside the country.

Dont meet the criteria? There is another potential route to help you qualify to buy a home under the rules. You can form your own local limited company, an ApS , which can buy the property for you.³

Constructing Your Cost Model

My bias Im a conservative guy when it comes to investment. I keep most of my portfolio in safe assets, while having a fringe with very speculative ones. Not much in between.

Armed with all the above data, you should be able to sketch a cost model. The cost model is a spreadsheet where you can put the different variables and get a specific figure for the total monthly or yearly cost.

Note If you go to a bank, theyll do this for you. But theyll do it for one specific apartment, or at least only for the apartments you ask them to do it for. If you want to do this for all the apartments youre potentially interested dozens, maybe it helps to build your own cost model.

I took a couple of weeks to sketch one for myself it looks as below:

There are some interesting things you can do if youve your own model:

I went ballistic. My model includes:

  • Purchase price and downpayments split between two people
  • Loan choice repayments, no repayments, fixed, variable, etc., plus 5 year, 20 year, 30 year loans
  • Bank loans and one off unscheduled repayments
  • Extra Repayment for fixed loans based on bond-market price
  • Effective/real interest rate, including the hated bidraggsats
  • Ejerudgifts, water and heating
  • Transaction and moving in costs
  • Net worth and personal equity changes in case the price of the property goes up

I The Danish Housing Market Overview

Is it now a good time to buy?

a) The Short Answer My Opinion. I think that if you want to buy and hold e.g. not sell for ~510 years minimum , you can go for it.

This as historically across the board house prices have risen, at least in nominal terms. Prices can crash tomorrow , but its very likely theyll go up again over the longer term. This can depend per area, city, etc.

Still, this is just my opinion. Its not a sure bet we cant predict the future, and trying to do so is risky at best.

But, if you buy to speculate, I dont think is a smart move. I dont think prices will rise much from where theyre right now I would be happy if they do, but I think that the government has been intervening and will keep intervening to keep the market from heating up much more. Yet, it could be that Im proven wrong and we end up like Stockholm.

b) The Most Objective Answer. If you should buy or not will depend on your specific case. However, if you look at the data, it might be a smart move:

First Copenhagen is not too expensive relative to other major European cities, as you can see in the below price per sqm meter in central locations:

Second all the QE-money printed by the European Central Bank needs to go somewhere. So far, it has been all being funneled to drive asset prices all assets up in value. As long the printing presses keep pumping, its likely prices will still rise, assuming no major changes in legislation.

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Buying Property In Denmark After Brexit

Copenhagen Denmark Real Estate For Sale

An EU citizen buying property in Denmark may find it tricky to buy real estate there. But for British expats, it has become really difficult now that the UK has left the European Union.

Brits are now classed as non-EU citizens, which means that youll need to have a visa and valid residence or business permit – as well as at least 5 years of residence in Denmark – in order to buy yourself a home there.

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Houses For Sale In Copenhagen Denmark

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Costs Of Buying A House

These are some ball park figures of what the one time costs are to buy a house in Denmark:

  • Deposit: Minimum 5%-10% of the sales price
  • Notary of loans from 8,000dkk 37,400dkk depending on current loans in house and cost of house.
  • Standard lawyer fee for writing the deed from 4,000 10,000dkk
  • Owner change insurance 10,000 20,000dkk

The running costs depend on the house but they include:

  • House insurance

The Real Estate Lawyer


Youre very strongly recommended to get a lawyer to sign off the purchase. He/she will also give a helpful hand to understand all the legalities, guide you when to sign or not sign documents, and be your guide to the fine print.

The lawyers work in a house purchase is standardized and straight forward. Youll have a few phone calls and emails with him or her before you start bidding and then while you bid. Youll only meet face to face once youve a purchase agreement signed by the two parties. Then he or she will need to approve the purchase and organize the registration of the property change of ownership towards the Danish authorities.

Note In Case Youve Problems. If youve problems with the purchase, bad news, or something negative pops up, the lawyer will be able to cancel the purchase for you. This so long as its within a specific, usually short time frame, and once the lawyer has read all documents and met with you.

For all that, lawyers will ask you for a fee thats around 10.000 DKK. In all cases, agree with the lawyer that there is no limit on the amount of hours he or she will work on your case.

Clarify the fee and conditions before you start working. Ideally, have it confirmed in writing so you avoid trouble or discussions later on.

Also The best way to know if youve a good lawyer is to give him or her a call. Ask 35 good, precise questions and see what answer he or she comes with.

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Buying Property In Denmark As A Foreigner

Dreaming of moving to Denmark? Its easy to see why youd consider living, working or retiring there, as the Scandinavian country regularly features at the top of the list of happiest countries in the world¹. It offers vibrant city life, breathtaking countryside, mild weather and a great healthcare system, as well as an excellent standard of living.

If youre thinking of settling down in Denmark, youre going to need somewhere to live. As a non-resident, it can be tricky navigating the process of buying a home in a new country – particularly in Denmark where there are rules and conditions you need to follow.

But dont worry, as our handy guide is here to help. Read on for all the essentials you need to know about buying property in Denmark as a foreigner.

Making Your Bids Negotiation 101

Real Estate &  Property for Sale in Denmark, WA 6333 ...
  • If its a sellers market, its going to be hard to get a good price. No way around it.
  • I negotiate for a living. Its my job I buy big things. Ive access to the some of the best negotiators in the world like, guys who have negotiated deals worth multiple billion dollars. We still have a hard time in a situation like this.

Negotiation is all about leverage. If there are dozens of people interested in the same property, theres no Art of the Deal that can help you get a 20% discount. The seller will just pick the buyer who offers the most money.

This doesnt mean you shouldnt push for a discount. Even in a red-hot sellers market theres room for opportunity. In this line, three things are paramount:

a) The Higher the Price, the Less Competition. Youll find the heaviest competition in flats worth under or around 3m DKK. These type of properties disappear quickly, especially if theyre well located. Then, the higher up you go, the less competition . If the property is highly desirable, though, youll always get competition, regardless the price.

b) If You Only Like One Property, Youre Screwed. If you like two, three or more places you can play the sellers against each other. So build alternatives both cheaper and more expensive. If the seller is inflexible, and the property has been for sale for more than a month, pressure him or her by mentioning properties youre interested in, that have both lower and higher prices.

In that line, two more hat tips:

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Property for sale in Denmark

According to a research Denmark is one of the happiest place in the world and one of the best places where living for many reasons.

There is one of the highest GDP in the world, it is one of the best place for environmental safety and air quality.

It is a very delicious place for students who have no low or no tuition.

For these reasons properties for sale in Denmark price rises continue.

The mixture of a strong and stable economy and a very business friendly climate makes Denmark the perfect centre of strong business networks and joint venture ensuring that you get connected from day one.

In Copenhagen for example the average price is rising by 9% but many buyer are interested in property for sale in Denmark thanks to the quality of life.

In Zealand region house prices rise by 10% and in South Denmark increased by 3,9%.

The best places where looking for property for sale in Denmark are Copenhagen, Odense, Aarhus, Roskilde famous to be a Viking city .

If you want to buy properties for sale in Denmark we can speak above all of the capital city where there are several designated development areas close to the centre.

Ørestad that is a 3.1 million square metres new business and residential district.

Carlsberg City District that,with its new housing, schools and offices creates a unique new neighbourhood.

Nordhavn, a former industrial and commercial port converted into attractive residential properties.

Paying For Your Danish Property From Abroad Save Money With A Secure Wise Transfer

If youre buying your Danish home while still in the UK, youll need a secure, reliable and cost-effective way to send money overseas. After all, youll have deposits to pay, along with solicitor fees and other costs.

Making international transactions using your bank isnt the cheapest option. Banks usually charge high fees, and add an expensive mark-up to the exchange rate. This can stretch your budget unnecessarily.

Use the Wise multi-currency account instead and you can send money between the UK and Denmark for low, transparent fees and the real, mid-market exchange rate. It could work out as much as 7x cheaper than using your bank. All transfers are secure, fast and trackable, and you can set one up in just a few clicks.

Sending large sums of money across the world can be a daunting prospect, but dont worry. Wise is FCA regulated and uses the latest security and anti-fraud measures to keep your money safe.

So, there you go – all the essentials you need to know to buy property in Denmark as a foreigner.

Its not as straightforward as in other countries, especially as a UK citizen after Brexit. But if you meet the criteria and follow the tips in this guide, you could end up with a wonderful Danish home that makes it all worthwhile.

  • World Happiness – the World Happiness Report 2020
  • Statista – property prices in Denmark
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    Condition Of The Property

    The building survey will give an overview of the house comparable to its age. A surveyor will go through the house and check for visible faults and errors. The damages are rated according to this scale:

    • K0 = Cosmetic
    • K2 = Serious damage
    • K3 = Critical damage

    This does not tell you how expensive it will be to fix the error but how critical it is to maintain the propertys integrity. For instance, often bathrooms will have lose tiles and outside wood on the house needs painting .

    The electrical survey is done in a similar way.

    Welcome To Copenhagen Homes

    The Copenhagen – Plunkett Homes

    When you and your family move to Copenhagen for a period of time, picking the right place to live is the single most important factor impacting your quality of life. When you find the perfect place to live, chances are much improved, that your stay will be successful in all respects.

    Finding the right place is a complex task. Your choice will depend on answers to the following questions:

    • Are you a family settling in for a longer period of time, or are you an individual staying for one year or less?
    • What are the personal preferences for your social life?
    • Where is your company situated?
    • What school needs do you have?

    Homes in the best parts of Copenhagen

    Copenhagen Homes is the agency focusing only on providing homes in the best parts of Copenhagen. The areas include the City Centre, Frederiksberg and the other attractive areas near the City. Also the very attractive areas north of Copenhagen close to parks, forest and the 30 kilometres long waterfront stretching out North with many nice beaches and villages.

    Our fee is paid by your potential landlord

    We are experts in analysing your needs and recommending a variety of possible options. We will challenge your assumptions and give you our best advice, so you finally can make your own choice.

    Our assistance is completely free, as our fee is paid by your potential landlord.

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    Once All Approvals Are In Place

    When all the approvals go through, the purchase is completed. Youll then arrange the other formalities:

    Non-Bank Related

    • Change of Ownership in the Kommune. This is called Tilysnign af Skode in Danish, and is the document specifying that youre the new owner of the property. The lawyers organize this for you.
    • Notifications to the Ejerforening. This to get introduced, to get to know your expected costs, etc. Youll also meet some responsible from the building to measure the electricity meter and other relevant information.
    • Keys Receiving. Then, last, youll receive the keys and, from then on, be a proud home owner

    Important Note! Until the sale is completely final that tilysning is signed by both parties, you receive the keys you can still cancel the purchase. Canceling, though, will be expensive 1% of the agreed purchase price. This is a lot, but there can be cases when it makes sense, right? Like, if you bought the apartment a week before Lehman Bros. collapsed back in 2008, you might want to do it )

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