Copenhagen Apartment Sales Drop 36 Percent in August

Copenhagen apartment sales dropped sharply by 36 percent in August. Property buyers in the capital now see a slowing market and changing trends.

Figures from Boligsiden show only 390 apartments sold in Copenhagen Municipality that month. That is the third-lowest August total since records began in 2011.

Housing economist Birgit Daetz said the market shifted away from its fast pace. Across Denmark, apartment sales dropped 20 percent compared to last year.

Overall Danish housing sales fell slightly during the first eight months of the year. Personal economist Brian Friis Helmer noted that apartments caused most of the decline.

Sales of detached houses and holiday homes remained strong in many regions. House sales rose in South Jutland, West and South Zealand, North Jutland, and Funen.

However, house sales fell in Copenhagen, its suburbs, and North Zealand. Housing activity is now spreading to other parts of the country.

This report was originally published by CPH Post.