Houses in Copenhagen cost more than twice the national average

Houses in Copenhagen cost more than twice the national average

As house prices have been rising steadily for many years now, we have carried out a study focusing on Denmark’s five largest cities: Copenhagen, Aarhus, Odense, Aalborg and Esbjerg.

To give an overview of the price differences, we compare the five largest cities with the national average house price. According to newly updated figures from Finans Danmark (the Danish financial sector’s trade association), the average house price in the second quarter of 2019 was 2.009.579 kr. But how do the five cities compare on price with the national average? Read on below.

The results of the study show larger differences in house prices in some of the cities, while others are below the national average. Read on below. 

Brikk’s director, Sebastian Beres, explains:

“Prices of detached and terraced houses in the five largest cities follow the same order as the cities’ populations. This is not surprising, as prices rise in step with demand in the area. Even so, the price differences are remarkable. The average house in Copenhagen costs over 5 million kr. – almost 3 times the national average – and only one of the cities is below the national average: Esbjerg, which also has the smallest population of the five.”

In Copenhagen, the average house costs more than five million kr.

According to Bolius (the Danish homeowners’ knowledge centre), Denmark has a population of 5,8 million. The Copenhagen capital area accounts for 11% of the Danish population, and this is also reflected in house prices: Copenhagen has the highest prices for detached and terraced houses. 

The average house in Copenhagen costs 5.222.646 kr. That is more than double the national average of 2.009.579 kr. Copenhagen is also, on average, more than 2 million kr. more expensive than the second-largest city, Aarhus. 

In Aarhus, home to 5% of the population, the average house costs 3.149.289 kr. – a little over one million kr. more than the national average. Even allowing for the big difference in population between Aarhus and Copenhagen, it is remarkable that the price difference for detached and terraced houses is more than two million kr.

Only one of the five largest cities is below the national average

Odense, home to 3% of the Danish population, is also above the national average: here the average house costs 2.271.841 kr. That is just under one million kr. more than the average price in Denmark. Even so, it is less than half of what a house costs on average in Copenhagen. 

In Aalborg, where 2% of the Danish population live, a house costs an average of 2.045.168 kr. In other words, Aalborg is also close to the national average house price.

The only one of the five cities below the national average is the fifth-largest, Esbjerg, where 1% of Danes live. In Esbjerg, a house costs an average of 1.802.372 kr. That is 207.207 kr. less than the national average and almost 3 times cheaper than a house in Copenhagen.

Overview of average prices for detached and terraced houses in Denmark’s five largest cities, compared with the national average price.