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Statistical presentation

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Prices and Consumption, Economic Statistics
Jakob Holmgaard
+45 39 71 31 24

jho@dst.dk

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Sales of real property

This statistic is a statement of price and volume trends in real estate transactions, calculated as price index, average prices and number of sales. The statistics are broken down by category of real property, type of transfer and geography.

Data description

The statistics are compiled as quarterly price index for one-family houses, owner-occupied flats, weekend cottages and commercial properties. The statistics also contains the following key figures;

  • Number of sales in the price calculation
  • Average price per property (DKK 1000)
  • Purchase sum per hectare (agriculture)/m2 (building sites)
  • Purchase sum in percent of taxable value
  • Estimated number of sales

The statistics does not include a total price index for all categories of real properties.

Classification system

The statistics are grouped geographically and by type of transfer and type of real property. The geographic breakdown follows the Common European geographical and administrative division known as NUTS for regions and provinces. The breakdown in type of transfer is divided into ordinary free trade, intra-family sales and other sales. The categories of real properties are generated from information in the collected data combined with use codes from the Tax Authorities. Since 2. quarter 2011 , the following categories of real properties are used:

· One-family houses · Residential properties with 2 or 3 flats · Residential properties with 4 flats and over · Residential and business properties · Business properties · Industrial properties and warehouses · Agriculture properties, total (agricultural land prices can be found in table LPRIS35 in the StatBank) · Weekend cottages · Building sites (unbuilt area not agriculture) total · Owner-occupied flats, not free · Owner-occupied flats, free · Owner-occupied flats, total

For the period 1. quarter 1992 to 1. quarter 2011 the following categories are available in the StatBank. Hereafter the data are updated only in the Payment Data Bank: · Residential properties with 2 flats · Residential properties with 3 flats · Residential properties with 4 -8 flats · Residential properties with 9 flats and over · Agricultural properties 10-100 hectares · Agricultural properties 2-5 hectares · Agricultural properties 5-10 hectares · Agricultural properties 10-15 hectares · Agricultural properties 15-30 hectares · Agricultural properties 30-60 hectares · Agricultural properties over 60 hectares · Agricultural properties 60-100 hectares · Agricultural properties over 100 hectares · Building sites (unbuilt area not agriculture) under 2000 m2 · Building sites (unbuilt area not agriculture) 2000 m2 and over

Sector coverage

Not relevant for this statistics.

Statistical concepts and definitions

Ordinary free trade: Sales between parties who are not related to each other and where there is no partial gift. Price index is calculated only for ordinary free trade.

Intra-family sales: Sales between spouses or between persons, who are related by marriage, even if the sale does not include a gift.

Other sales: Sales that are not ordinary free trade or family transfer, for example forced auction or transfer without consideration.

One-family house: Property with one apartment that is used for living and has an area of ??less than 5501 sqm. The properties may include individual premises that are used for commercial purposes, if the commercial use amounts to less than 25 per cent. of the value of the property. Townhouses where the land is matriculated for each house are single-family houses.

Owner-Occupied flat: Apartment used for residential purposes and which is located in either multi-storey properties or single-family houses, semi-detached houses and two- and three-family houses and which has the character of open-low buildings and terraced houses which have the character of dense-low buildings. For example, terraced houses that are located on a plot that is not subdivided, but where the individual units in the buildings have been subdivided into owner-occupied flats. Owner-Occupied flats can be free or not free from the obligations of the tenancy law, which i.a. aims at protecting previous tenants against termination. The market value is significantly lower for owner-occupied flats that are still rented out compared to owner-occupied flats that can be freely sold.

Agricultural property: Built-up property used for agriculture and which has an area of ??at least 0,55 acres.

Weekend cottages: Property which is intended for summer residence and which is typically located in a holiday home area.

Residential property with 2 flats or more: Property that contains at least 2 apartments and has an area of ??less than 5501 sqm. The property may also include individual premises that are used for commercial purposes, if the commercial use amounts to less than 25 per cent. of the value of the property.

Residential and business property: Property where, in addition to residential premises, there are premises that are used for business purposes, provided that the business use amounts to at least 25 per cent. of the value of the property.

Business property: Property that only contains premises that are used for business.

Industrial property and warehouse: Property that only contains premises that are used for industrial companies, larger workshops, gas, electricity, water and heating plants, independent storage facilities and which are typically located in an industrial district.

Building site: Land that contains all undeveloped areas except undeveloped agricultural plots.

Other built-up: Property that cannot be included in other property categories.

Statistical unit

The statistical unit is a registrated property in connection with sales.

Statistical population

The population covers all sales of the included types of real properties.

Reference area

Denmark.

Time coverage

1992- to present.

Base period

The index reference period is 2006=100, except for the House Price Index (HPI) which use index reference period 2015=100.

Unit of measure

The statistics covers price indices, average prices and number of sales. Values are shown in 1.000 DKK

Reference period

In connection with sales, the contract date is used as accrual period in the statistics. If the contract date is unknown, date of the deed is used instead.

Frequency of dissemination

Monthly, quarterly and yearly.

Legal acts and other agreements

The legal authority to collect data is provided by the Act on Statistics Denmark, section 6, as subsequently amended (most recently by Act no. 599 of 22nd of June, 2000).

In connection with the Harmonized Consumer Price Index (HICP), the legal authority to collect data is provided by the EU-regulation 2016/792 of 11 May 2016 regarding consumer prices and the house price index.

Cost and burden

The statistics are based on administrative records. Therefore there is no direct burden to the compilation of these statistics. Data comes from the electronic land registration system for registration of ownership of real properties.

Comment

Additional information can be required by contacting Statistics Denmark.