Thursday, June 21, 2012
HOUSE PRICE CRASH (in Denmark)
Danish house prices plunged in the first quarter to a seven-year low after sellers slashed values to unload properties that had been on the market for a record- high number of days. The average price per square meter fell to 10,897 kroner ($1,857) in the first three months, down 7.4 percent from 11,769 kroner a year earlier, according to data released today by the Copenhagen-based Association of Danish Mortgage Banks and the Mortgage Bankers Federation. The average time on the market before a sale reached 230 days, the highest since the association began collecting the data in 2004.