End of year house price reprieve
28/01/2010 - the Copenhagen post
Good news for home owners as industry figures show a rise in the value of rural houses and city apartments
The hard hit housing market looks to be recovering somewhat from a disastrous 2009 with the value of rural houses and city apartments increasing in fourth quarter.
Figures from the independent housing portal Boliga.dk, show that house prices rose in 56 neighbourhoods across the country during the fourth financial quarter of last year.
The majority of housing increases were found in residential areas far away from the larger cities.
The largest price increase was found in mid Jutland town Skals, where square metre prices rose by 11 percent in the final three months of the year after having fallen by 17.8 percent up until October 2009.
Homeowners in the Jutland town of Mørke, and Veksø in North Zealand also had something to smile about after experiencing price drops of 24.4 percent and 17.9 percent respectively during the first three quarters of 2009. Prices per square metre bounced back in October and the two towns saw prices rise by 7.4 and 6.8 percent respectively.
But while certain neighbourhoods offer a reprieve for homeowners watching their homes devalue, it’s not the case nationwide. National prices for detached homes fell by 1 percent between October and December while apartment owners saw their property devalue by 0.9 percent in the same period.
While house prices increased in rural towns, apartment owners in Copenhagen benefited from price increases.
Sellers in Kastrup were pleased to see their apartments’ value rise by 9 percent at the end of the year, while apartment owners in Glostrup and Vesterbro also saw similar increases.
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