The prices for renting a flat in Copenhagen and Denmark have been skyrocketing for many years. There are also way more people looking for a flat than there are available flats for rental. According to the Association of Danish Mortgage Banks, the average cost of owner-occupied flats for almost all regions increased by 3.5 per cent yearly to DKK 27,555 per square metre in 2018.
In Copenhagen and its surrounding area, the prices of owner-occupied flats increased 3 per cent yearly to DKK 34,989 per square metre. In Central Denmark, the prices of houses rose 4.1 per cent yearly to DKK 22,608 per square metre. House prices in Southern Denmark increased 10.7 per cent yearly to DKK 16,617 per square metre.
The continued increase in prices is partly due to decreasing residential construction activity. Copenhagen’s strict regulatory and geographic supply restrictions, as well as new waterfront developments, have also contributed to the supply and demand gap in the area. The current prices of properties in Denmark are higher than ever, but it’s, in fact, 14 per cent lower compared to the prices in 2017 because of inflation.
The rental process in Denmark is pretty much the same as those in other countries. Tenants have to pay a deposit and sign a rental agreement. Rental agreements vary but usually cover the rights of the tenant and the landlord. The agreement also states whether the flat can be sublet. Tenants should get their landlord’s approval before making any cosmetic changes to the flat. Any damage is also the tenant’s responsibility.
Most Danish landlords have the right to remove tenants if they are too unruly to their neighbours. Landlords are obliged to conduct a comprehensive inspection of the flat chosen by the tenant. If they fail to do so or refuse to do it, they cannot withhold the tenant’s deposit when they move out. Staircase rent is also no longer allowed in Denmark. Any rent increases should follow the consumer price index. A Council Rent Committee can also be asked to manage conflicts between the tenant and the landlord in order to help them find a reasonable resolution that works out for them.
Sublets and landlords in Denmark usually post their listing online. Finding a flat this way can help tenants avoid high broker fees, but it is time-consuming. Those who want to find an apartment in Denmark can use websites such as nemlejebolig.dk to make their search easier.
With only a few clicks, either tenants can book a specific flat rental listing or subscribe to a list for a certain kind of accommodation. nemlejebolig.dk offers information about flats, townhouses, and other types of properties for free. Tenants can also sign up to their real estate agent and get rental property suggestions as well as contact landlords for free. They will be the first to hear about newly built flats, houses for rents, and relevant leases in Denmark.