House prices in Denmark sank to a seven-year low in the first quarter of 2012, according to the Association of Danish Mortgage Banks and the Mortgage Bankers Federation.
The average price per square metre for Danish property fell by 7.4 per cent in the first three months of the year compared to 2011, down to 10,897 kroner. As prices drop, sales are slowing too, the figures reveal, with the average time a property spends on the market before selling up to 230 days – the highest since ADMB began recording data eight years ago.
The stalled market follows a burst housing bubble as Denmark’s economy entered recession last year.
Businessweek reports that Christian Heinig, chief economist at Realkredit Danmark emailed the following note to investors: “There’s an increasing risk that potential buyers will continue to hold back and postpone a decision to buy a home.”
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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