COPENHAGEN: According to property statics by Politiken, property prices in Copenhagen reached at around 32,199 kroner per square meter 2014. The Politiken reported that an analysis of property prices in Copenhagen between 2007 and 2014 shows that prices in parts of the city have topped their pre-crisis levels.
Property prices per square metre were higher in 2014 than they were in 2007 in Copenhagen’s inner city and the districts of Vesterbro, Østerbro, Islands Brygge and Valby. In Vesterbro, 2014 prices were a full 14 percent higher than at the peak of the housing bubble, with average prices going from 28,310 kroner per square metre in 2007 to 32,199 kroner per square metre last year.
Islands Brygge property prices have increased by nine percent and Østerbro’s by three percent, while average per-square-metre prices in the inner city and Valby are one percent higher than they were in 2007.The increases have some concerned that a new housing bubble will soon burst.
“It is clear that the relatively large price increases in Copenhagen lead one’s thoughts back to 2006-2007, but there are many differences between the developments we see in the Copenhagen housing market today and what we saw back then,” Morten Skak, a professor at the University of Southern Denmark who specializes in household economy, told Politiken.
