Buying Property in Denmark: What You Need to Know

Text by Bomae, Buyer Agency (Helping Expats Buy Property in Denmark)

We are very happy to let you know, that if you are planning to buy a house or an apartment, you can get 1 hour free advice and a 10% discount with Bomae if you let them know you are coming via Spousecare. You can book a meeting here:
https://bomae.dk/en/spousecare/

Buying property in Denmark as a foreigner can be challenging, even for locals, as the process is often confusing and filled with specific legalities. While the market is transparent, there are many steps to follow, which can feel overwhelming. With the right guidance and preparation, you’ll be better equipped to handle the complexities of the Danish home-buying process.

Legal Requirements and Financing

The first hurdle for foreign buyers, especially non-EU citizens, is meeting legal requirements. EU/EEA citizens have the same rights as Danish citizens, but non-EU citizens must obtain permission from the Danish Ministry of Justice before purchasing property.

Financing options vary based on citizenship:

• Danish and EU/EEA citizens: • Up to 80% financed through a mortgage • Additional 15% covered by a bank loan • Remaining 5% from personal savings
• Non-EU citizens: • May need a larger down payment (10-40% of purchase price) • Face additional requirements for mortgage approval

Key Steps in the Buying Process

1. Get pre-approved for a mortgage to determine your budget.
2. Find suitable properties, considering location, amenities, and future needs.
3. Negotiate the deal, often with the help of a buyer agent.
4. Review all legal documents carefully – consulting a legal advisor is highly recommended.
5. Complete the purchase and register the deed.

Throughout this process, it’s crucial to have an independent surveyor inspect the property, especially for houses. While sellers provide a property condition report, an independent evaluation offers additional peace of mind and can identify potential issues affecting your decision.

Costs to Consider

When budgeting for your Danish property purchase, remember to account for:

• Purchase price of the property
• Registration fee: 1,750 DKK + 0.6% of purchase price
• Property taxes (varying by municipality)
• Potential renovation or repair costs

Buying property in Denmark requires careful planning and attention to detail, but with proper preparation and expert guidance, you can successfully navigate the process. Whether you’re seeking a city apartment or a family home, understanding these key points will help you make informed decisions and find the perfect place to call home in Denmark.