Most Danes buy property in their 20s and 30s, usually with help from their parents. It helps that mortgage rates are still very low too. There's not as much of a renting culture as there is in say, Germany.
In the Copenhagen area property prices are already growing faster than salaries. Apartments in my relatively central area have gone up by over 20% in the last 3 years. I'm not sure what the situation is like in smaller cities across Denmark, but probably not as severe. It's widely recognised that Copenhagen has the lion's share of the best jobs in the country, but there are efforts to remedy that (not least the government's rash decision to move many important offices to other parts of the country).
In the Copenhagen area property prices are already growing faster than salaries.
Yeah, that's what worries me - landowners having earned enough wealth will start to use their land for other purposes. Or there will be other wealthy people who will order such a reassignment. Thus increasing prices faster than technology can increase supply. It seems unlikely, but who knows for sure? Thanks for the info!
There are some quite strong laws in Denmark about the foreign ownership of land, and tax starts to ramp up quite quickly as soon as you purchase a second property. People don't tend to put their earnings into multiple properties like they do in, say, the UK (where I'm from).
I haven't read much into the property market here but I would guess the rapid increases in prices is down to increased demand from people moving here, rather than land owners re-purposing their property. I could be wrong though :)
In the Copenhagen area property prices are already growing faster than salaries. Apartments in my relatively central area have gone up by over 20% in the last 3 years. I'm not sure what the situation is like in smaller cities across Denmark, but probably not as severe. It's widely recognised that Copenhagen has the lion's share of the best jobs in the country, but there are efforts to remedy that (not least the government's rash decision to move many important offices to other parts of the country).