Local Round-Up: Copenhagen rent prices soar as landlords exploit loopholes - The Post

Local Round-Up: Copenhagen rent prices soar as landlords exploit loopholes

In other news, hopefully the number of car fires in the capital will decrease following the arrest of a suspected serial arsonist

Rental prices are soaring (photo: Pixabay)
October 29th, 2019 9:25 am| by Soma Biró & Jade Emerson Hebbert

In just two years, the average price of a two bedroom apartment in Copenhagen has increased by 31 percent.

It’s especially the prices of smaller apartments that have gone through the ceiling.

While in 2015 there were 48,000 apartments available for rent for under 5,000 kroner, today there are only 36,300.

An average two bedroom apartment cost 8,536 kroner in 2014, while today the price of a similar apartment is up at 11,225.

Exploiting the loopholes
One of the reasons for this is a paragraph in the housing regulation law, which allows landlords to make renovations that in turn grants them the right to elevate prices.

A small investment in renovating can yield a big profit and some companies have been exploiting this opportunity.

Demand is also high and one can often get stuck in the limbo of waiting-lists for 10-30 years.

A recent survey revealed that expats are particularly vulnerable to paying high rents, and on average they pay 28 percent more than Danes. Some rental companies deal exclusively with internationals.

READ MORE: Addressing an imbalance in which expats pay 28 percent more rent than Danes

Suspected Nørrebro serial car arsonist under arrest
Copenhagen Police has arrested a 27-year-old man who is suspected of setting as many as nine cars on fire – primarily in the city district of Nørrebro – since August 30. The police are confident the fires have no relation to the ongoing gang conflict. Some 648 cars have been set on light in Denmark this year.

Mental health centre to receive 1.1 million kroner in funding
City Hall has granted 1.1 million kroner to Muhabet, a drop-in centre for the mentally vulnerable. However, the amount is a long way off  the 3.1 million kroner asked for. “We’ll still need to look for further funding,” says the centre’s deputy head Nevo Sütcü. Muhabet mostly works with immigrants with mental health issues.

Most of the country’s slowest roads are in the capital
Some 11 of the 20 slowest roads during rush hour in Denmark are in Copenhagen, according to figures released by the Ministry of Transport. The slowest is a section of Amagerbrogade/Torvegade, which has an average speed of 8.2 kilometers per hour – a slow rate blamed on extensive roadworks that began in the area in the autumn of 2017.

Work on new children’s section starts at city’s main library
On November 4, the second floor of Copenhagen’s Main Library on Krystalgade will be closed off as new renovations begin to create a new children’s floor that will include not only include a library but also activity zones that follow the chronological development of a child’s linguistic growth. The project, supported by Nordea Fonden, will enrich the learning experiences of children and their parents by highlighting the literature and reading materials that coincide with the Danish focus on quality of life. Until the expected reopening in the middle of 2020, a temporary children’s library will be created on the ground floor.