Buying a Property in Denmark

Danish properties are usually of high standards, fairly spacious and expensive.

Aside from being a popular expat destination, Copenhagen is an ideal real estate location due to the new bridge connecting Denmark and Sweden. The bridge provides easy access of travelling to Sweden and other Scandinavian countries. Denmark's capital also attracts property buyers with its cosmopolitan city vibrancy mixed with an old fishing village charm.

EU citizens can purchase property in Denmark without permission from the Ministry of Justice. The only requirement is to attach a statement to the deed of sale that the property will be used as a year round residence. Non-EU nationals, on the other hand, need permission from the Ministry of Justice to purchase property and must confirm that the property will be the buyer's residence throughout the year. Buyers must also have a valid residence or business permit prior to purchasing a property.

The cost of property in Denmark depends greatly on where the property is located. Properties in urban areas are, of course, more expensive than in rural areas.

• A two bedroom apartment in provincial or rural areas costs approximately USD$75,000 while an apartment of the same size in Copenhagen can be twice as much or approximately USD$130,000.
• A three-bedroom house located in provincial towns costs about USD$175,000.
• Buying a three bedroom house in Copenhagen costs approximately USD$350,000.

Other costs that need to be considered for foreigners buying a property are agent fees, notary fees, registration fees, taxes, etc. Normally, real estate agents are negotiable and range from 0.5% to 2% of the value of the property and the services rendered. Registration fees paid at the Land Registry costs DKK1,400 (approximately USD$239) plus 0.6% of the property value.