Denmark - House Price Index

For Denmark, the purpose of the statistics for sales of real property is to analyze number of sales and price trends for specified categories of real property. The statistics show developments in the number of sales as well as in prices distributed by categories of real property and geography. The current statistics only cover sales in ordinary free trade, intra-family sales and other sales. Ordinary free trade comprises sales between parties who are not members of the same family and sales, which are not considered as a partial gift.

The statistics are, among other things, used for monitoring short-term economic trends. Estate agents and other interested parties use the statistics to follow developments in the number of sales and prices for different types of real property within selected geographical areas.

Categories of transaction include ordinary free trade, intra-family sales and other sales. Ordinary free trade involves sales between parties who are not members of the same family, sales that are not considered as a partial gift and resale of a property acquired at an enforced auction sale by a holder of an unsatisfied mortgage. Intra-family sales include sales between parties and between persons, who are related or related by marriage, even if the sale does not include a gift. Other sales refer to sales that are not ordinary free trade and intra- family sales; for example, forced sales.

The estimated number of sales is the raised number of sales calculated on the basis of the pattern of the previous year when the sales forms were received by the Ministry of Taxation.

All sales, which meet the following conditions are included in the price calculation:

• There are no special conditions such as: partial property sold, more than one property sold, sale subject to price clause, seller is a public authority (with the exception of building sites), sales information is missing or price is exorbitant.
• The buyer is a private person.
• Residential properties with 4 flats and over, residential and business properties, business properties and industrial properties and warehouses are included as well as sales where the buyer is a company.

Price per property is calculated as an ordinary average of the sales included in the number of sales in the price calculation.

In connection with every transfer of real property the buyer (recipient of the deed of transfer) has to submit a duly filled in sales form to the municipality in which the real property is situated. The sales form has to be submitted to the municipal authorities, together with the deed, which must be endorsed with the taxable value of the property, before final registration can be completed. The municipal authorities pass on the sales forms to the Ministry of Taxation where the information is registered and checked. Statistics Denmark receives each quarter information about each transaction from Ministry of Taxation.

With 2019 Q1 data dissemination, the source introduced a slight change in methodology. Instead of calculating the quarterly figures from raw data, they are now dervived from monthly data.

The statistics are currently revised. Final figures for a calendar year are processed at the same time as the provisional figures for the 2nd quarter in the following year - normally in the middle of November.

At the source:

• http://www.dst.dk/en/Statistik/dokumentation/documentationofstatistics/sales-of-real-property