Denmark is among the top countries with the happiest citizens in the world. Denmark has a good economy, remarkable living conditions, and government-backed services. Therefore, many expats buy into the prospect of moving to Denmark. Many expats also consider buying or renovating properties in Denmark. To construct or renovate their dream house, they need the services of reputable businesses like Sandshoppen. Before purchasing any property, expats must equip themselves with the knowledge of the processes and requirements involved.
Life in Denmark cities bubbles, the countryside comes with amazing views, the standard of living is high, and the weather is moderate. Settling down as an expat requires a good place to reside. The process of purchasing property in Denmark as a non-citizen can get confusing. Expats must abide by the strict guidelines put in place.
The General Property Situation in Denmark
The Danish property market scaled through the coronavirus pandemic better than other countries. In 2019, the property market increased by 3%. The inflation was only 1.6% by comparison in 2020.
As the economy recovers from the effects of the pandemic, the price is expected to rise. There’s also the possibility of demand-pull inflation because of a general drop in property purchases and sales in 2020.
Conditions for Buying Property in Denmark as an Expat
Certain conditions must be met before an expat can buy property in the Scandinavian country. The key requirements include living in Denmark for a period equal to or greater than five years and working in Denmark for EU nationals. Non-EU citizens are only required to get residence or business permits.
Cost of Property in Denmark
The cost of buying property in Denmark is quite steep. It’s even higher than purchasing property in the United Kingdom. The price of the property varies from region to region. It also depends on the type of property you intend to buy. If you go to a place in a city like Copenhagen, you’ll pay higher. Opting for cities near harbors can lead to lower costs.
Guide to Buying Property in Denmark
- Ensure that you’re qualified to purchase property in Denmark. If you meet the requirements, apply for permission at the Department of Civil Affairs.
- Take out a mortgage if you need to.
- Use online resources to find a property that catches your eye. It’s best to check out the property you want to buy physically.
- Make an offer and once you get accepted, arrange for a solicitor to draw up the legal certification.
- Make sure that the seller signs the purchase agreement
- Buy insurance for your home.
