Most parts of Denmark have seen house prices rise over the last five years, with one exception. Some locations have seen steeper price rises than others.

The price of a house or apartment in Denmark has increased by an average of 26 percent nationally over the last five years.

Some areas of the country have seen significantly more value gained by property than others, notably the Greater Copenhagen area, where houses and apartments are now more expensive than they were in late 2019 by 33.4 percent and 31.2 percent respectively.

The figures come from a fresh analysis from Finans Danmark.

Trailing behind most other locations in the country is North Jutland, where house prices have gone up by 10.2 percent. Apartments in North Jutland are now 0.6 percent cheaper than they were five years ago.

READ ALSO: MAP: How much do you need to earn in Denmark to buy a house?

The chart below shows the cost in kroner per square metre in each region for houses and apartments at the end of 2019 compared to 2024, and the percentage change. The overall percentage change for houses is represented in the map.

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Detached and Terraced Houses
Apartments


2019Q4
2024Q4
Growth, %
2019Q4
2024Q4
Growth, %


Whole Country
14,176
17,904
26.3
28,256
35,736
26.5


Greater Copenhagen
26,429
35,251
33.4
35,879
47,086
31.2


Zealand Region
12,283
15,373
25.2
17,714
21,933
23.8


Southern Denmark
10,299
11,796
14.5
17,610
19,152
8.8


Central Jutland
12,375
14,575
17.8
22,873
27,073
18.8


North Jutland
9,462
10,437
10.3
17,793
17,691
-0.6

 

The Covid-19 crisis, which began almost exactly five years ago, has been a major factor driving up Danish property prices, according to director with Finans Danmark, Peter Jayaswal.

“The corona crisis really sparked the housing market and many Danes ended up buying new homes,” Jayaswal told the Ritzau newswire.

“The following years saw a period of large interest rate increases and rising inflation. That caused a small drop in house prices but they have since gone up again and exceeded the level from the Covid period,” he said.

The Zealand, South Denmark and Central Jutland regions have house price increases ranging from 14 to 25 percent, and 9 to 24 percent for apartments.

“There has generally been growth in the housing market in the whole country, but there are actually relatively large differences across the country,” Jayaswal said.