Copenhagen Apartment Sales Drop Signalling Potential Price Decline

Copenhagen apartment sales dropped significantly in July. This slowdown could soon lead to falling home prices across the city.

Buyers bought 407 owner-occupied apartments in Copenhagen Municipality in July. Sales fell by 24 percent compared to June. They dropped by 40 percent compared to July last year.

Nordea housing economist Lise Nytoft Bergmann analyzed the figures. Normal sales range between 400 and 600 per month. High sales usually drive price increases. Sales under 400 usually lead to price drops. The current 407 sales balance close to warning levels.

Data from Boligsiden confirms average apartment prices stopped rising between June and July. Nationwide, apartment sales also dropped by 22 percent.

Boligsiden director Birgit Daetz noted that apartment supply is rising while demand cools down. Buyers face less competition for housing now. This story was reported by Danish broadcaster DR.