Denmark: house price to income ratio 2012-2023

The house price to income ratio increased slightly in 2023, after plummeting the previous two years. In the third quarter of 2023, the house price to income ratio amounted to 102.7 index points, down from its peak of 122.3 index points in the first quarter of 2021. The ratio measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100.

Has buying a house in Denmark become more affordable?

The decline in the house price to income index is mostly because of a correction in house prices, as shown by the EMF house price index for Denmark. Meanwhile, incomes in the country have continued to grow. However, that does not mean housing is more affordable, as the average mortgage interest rate has soared, making credit much more expensive for homebuyers.

What is the average house price in Denmark?

In 2023, the average sales price of a single-family house in Denmark was about 2.6 million Danish Kroner. Single-family houses are the most popular dwelling type in the country, followed by multifamily housing units.

House price to income ratio in Denmark from 1st quarter 2012 to 3rd quarter 2023

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Release date

May 2024

More information

Region

Denmark

Survey time period

Q1 2012 to Q3 2023

Supplementary notes

The source adds the following information: "The standardized ratio is indexed to a reference value equal to 100 over the full sample period. Values over 100 indicate that the present price-rent ratio, or price-income ratio, is above its long-run norms".

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