Sales of second homes in Denmark stalled


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Sunday, 14 August 2011
Sales of second or what is known here in the Nordic as summer home have come to a stagnant point with house owners seeing that they have to wait longer for a buyer. Along that line too, prices just keep dropping.

There are almost 18 percent more homes for sale in Denmark now than a year ago. 2011 actually started fairly well, but in the summer months, sales have stalled, according to a statement from the Mortgage Banks.


Ulrikke Ekelund, Chief Economist for BRFkredit, a mortgage bank,  indicate that the holiday house follows the same trend as the rest of the Danish housing market, namely that it is generally slow in getting homes sold in this country.

Holiday homes are a luxury and therefore a secondary market.
“The house is not our primary residence, and therefore something we can do without,” says Ulrikke Ekelund to Rado Denmark news.

The point that it is a buyer's market at the cottage and holiday home area is shown in the price. Cottages were four percent lower in prices now than a year ago - but the lower prices have not been able to boost sales.

“Uncertainty is generally widespread and people are saving and hoarding more. In order to be able to sell several homes, we must do away with uncertainty and have greater confidence in our personal finances,” says Ulrike Ekelund.
By Team

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