A record number of homes for sale in Denmark as demand weakens


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Wednesday, 13 July 2011
71,000 houses, condominiums and holiday homes are for sale in Denmark, which is being classed as a record number of homes supplied. It is the first time that there are more than 70,000 sales displays in Mortgage monthly housing supply statistics that goes back to January 2004.


“Since early 2006, the stock of detached and terraced houses that are for sale has grown steadily outside Copenhagen and Nordsj�lland. It's a trend that still prevail, and that is the main explanation for that we have entered - a new level with more than 70,000 sales signs,” says Jan Kn�sgaard, vice president of Mortgage Banks association, Realkreditr�det to Danish news agency Ritzau.

Denmark wide, more than 47,000 homes are for sale. The figure was just under 42,000 last year. The number of condominiums offered for sale has grown to 11,300 from 10,000.
Meanwhile, nearly 12,500 second homes are for sale compared to almost 10,700 this time last year. Overall, more than 8000 more residential properties have been put for sale than a year ago.
This means that there is more supply of houses while the demand for them is not there. A brief story of the nature of the Danish economy right now.
By Team

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