Huge differences in rental prices

A new analysis from www.boligportal.dk shows that you can save thousands of Danish kroner on rent each year, by living in the province rather than in Copenhagen.

Boligportal.dk, the largest rental page on the Internet, has reviewed the prices of more than 77,000 rental properties in Denmark's ten largest cities. The analysis reveals that it is possible to save over DKK 70,000 after taxes, a year, by living in the province rather than in Copenhagen.

Only Aarhus and Roskilde, which are among the ten largest cities in Denmark, reaches the rental level in Copenhagen. Though, there is still a lot of money to save in those cities. In Aarhus and Roskilde tenants can save respectively 23% and 19% compared to Copenhagen, while tenants in the remaining seven cities in average can save as much as 42%.

- Rental prices are significantly higher in Copenhagen, regardless of property type. If we for instance compare Odense and Copenhagen, there are more than DKK 4000 pr. month to save on a three-bedroom apartment. This indicate a possibility to save a lot of money, says Henrik Løvig, CEO of Boligportal.dk


Randers is cheapest
Randers is the cheapest of the ten cities with an average saving of as much as 50%, and by renting a four-bedroom apartment in Randers the average saving will be nearly DKK 80,000 annually.

Although the largest apartments are the ones with the biggest possibility of saving money, there is money to save on two- and three-bedroom apartments as well. In Kolding, a three-bedroom apartment is approximately DKK 50,000 cheaper annually, while in Aalborg you can save approximately DKK 37,000 annually on a two-bedroom apartment.

- That great savings can finance a good vacation for the whole family or allow private savings or debt repayment. If considering moving to another city, the provinces are very attractive from an economic perspective" says Henrik Løvig, CEO of Boligportal.dk


Strongest demand in Copenhagen

The reason for the high rents in Copenhagen is the markedly increased demand for rentals compared to the rest of the country.

- At Boligportal.dk we see Denmark as two entirely different rental markets. There is Copenhagen and the rest of Denmark. In Copenhagen there is a much greater concentration of highly paid workers, who are able to pay a higher rent. Furthermore the supply of affordable rental properties is declining, "says Henrik Løvig, CEO of Boligportal.dk.

Of course it is possible to find cheap apartments in Copenhagen, but it requires a more active search than if looking for an apartment in the province.



Facts:

Two-bedroom apartment/Three-bedroom apartment/Four-bedroom apartment
Saving per year compared to Copenhagen (DKK)
København- - -
Århus 13.632 28.098 46.900
Odense 32.635 51.453 69.981
Ålborg 37.292 53.219 74.861
Esbjerg 36.624 46.468 70.854
Randers 41.074 63.759 79.768
Kolding 30.810 50.751 65.211
Horsens 40.003 53.325 41.813
Vejle 34.443 52.653 75.578
Roskilde 10.003 30.905 34.552

Net (After taxes)

Two-bedroom apartment/Three-bedroom apartment/Four-bedroom apartment
Monthly rent (DKK)
København7.262 10.249 13.412
Århus 6.126 7.907 9.504
Odense 4.542 5.961 7.580
Ålborg 4.154 5.814 7.174
Esbjerg 4.210 6.377 7.508
Randers 3.839 4.936 6.765
Kolding 4.695 6.020 7.978
Horsens 3.928 5.805 9.928
Vejle 4.392 5.861 7.114
Roskilde6.428 7.674 10.533

Net (After taxes)

Average saving compared to Copgenhagen
København-
Århus 23%
Odense 41%
Ålborg 44%
Esbjerg 41%
Randers 50%
Kolding 39%
Horsens 38%
Vejle 43%
Roskilde19%

Two-bedroom apartment/Three-bedroom apartment/Four-bedroom apartment/Total
Number of advertisements the last 12 months
32.349 30.929 14.544 77.822