Denmark has been an independent country since the 10^th century and is one of the oldest states Europe. Denmark is a part of Scandinavia and has 206 islands. The capital Copenhagen lies on the island of Zealand. The largest islands are Zealand, Funen and North Jutland. Denmark joined NATO in 1949 and the European Union in 1973. Copenhagen has approximately a population of 1.08 million.

 

 

Range varies according to what you wish to purchase as shown below:

From around £90,000 for 2 bed apartment in cities

Houses from around £100,000+ in countryside

Villas from around £126,000+

Houses from £230,000+ in cities

Chalets from around £230,000+

 

 

Copenhagen is the most popular place to purchase property as with the bridge built between Denmark and Sweden it is now much easier to travel between Scandinavia. Other popular places to buy property are the coastlines, harbours and docks. There are some restrictions for foreigners buying holiday homes on the coastlines.

 

 

The cost of living in Denmark is quite high compared to other countries in the E.U. but to compensate there are quite a few free services available such as medical care and education.

 

 

The property should be checked properly for any errors in the structure of the building and any moisture before the estate agent draws up the purchase agreement. A mortgage certificate will need to be obtained to make sure there are not any loans taken out on the property. The estate agent will be communicating through the buyer's solicitor/lawyer to come to a reasonable price before the buyer and seller sign the final contract. There is no notary involved the solicitor/lawyer will act as a notary on behalf of the buyer and will issue the official document of ownership to the buyer.

 

 

A solicitor/lawyer will need to be appointed to deal with the council, sign contracts, check through sales agreement and check any surveys done.

 

 

Legal fees are around 1.5%, contract fees are around 0.6% and stamp duty is around 1.5%. The seller covers the real estate fees.

 

 

Property tax does not have to be paid if the buyer is going to be living in the property permanently. Property tax is around 4.5% which includes county tax of around 1%, real estate tax of around 1% and local tax of around 2.5%. Transfer tax is 25% of the property purchase price.

 

 

Can be arranged locally and the buyer can borrow up to 80% over 10 - 30 years. There is no restriction on foreigners using local banks. There are fixed mortgages available with market bond prices. If the property is sold and there is a loan on it, the loan will need to be transferred to the new owner. It is advisable to pay the payment fully in cash if the buyer will be taxed on the purchase.

 

 

E-Mail: dkembassyuk@compuserve.com

 

Government website: www.um.dk