OECD Economics Department Working Papers
Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.
The views expressed in these papers are those of the author(s) and do not necessarily reflect those of the OECD or of the governments of its member countries.
- ISSN : 18151973 (en ligne)
- https://doi.org/10.1787/18151973
The Danish Housing Market
Less Subsidy and more Flexibility
While Denmark has fairly flexible labour and product markets in most respects, the housing market
stands out with large direct and indirect subsidies for all types of housing and a highly regulated rental
market hindering mobility, probably resulting in a mismatch between housing needs and use. In the current
housing policy framework there is quite a contrast between the well-functioning market for transactions of
owner-occupied housing (supported by the highly liberalised mortgage market) and the highly regulated
rental housing market. This paper assess the recent development in Danish house prices, followed by a
discussion of ways of replacing the costly government intervention in the Danish housing market with
more market-based mechanisms, thereby achieving policy objectives in a more efficient and targeted way.
The paper reviews the main areas for reform, including overall subsidisation of housing, rent regulation,
social housing, and how housing supply could be made more responsive.
Mots-clés: housing supply, rental housing, home owners, house prices, mortgage markets
JEL:
E39: Macroeconomics and Monetary Economics / Prices, Business Fluctuations, and Cycles / Prices, Business Fluctuations, and Cycles: Other;
D14: Microeconomics / Household Behavior and Family Economics / Household Saving; Personal Finance;
E21: Macroeconomics and Monetary Economics / Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy / Macroeconomics: Consumption; Saving; Wealth;
E51: Macroeconomics and Monetary Economics / Monetary Policy, Central Banking, and the Supply of Money and Credit / Money Supply; Credit; Money Multipliers;
R2: Urban, Rural, Regional, Real Estate, and Transportation Economics / Household Analysis;
R31: Urban, Rural, Regional, Real Estate, and Transportation Economics / Real Estate Markets, Spatial Production Analysis, and Firm Location / Housing Supply and Markets;
H59: Public Economics / National Government Expenditures and Related Policies / National Government Expenditures and Related Policies: Other;
E22: Macroeconomics and Monetary Economics / Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy / Investment; Capital; Intangible Capital; Capacity;
D12: Microeconomics / Household Behavior and Family Economics / Consumer Economics: Empirical Analysis;
D61: Microeconomics / Welfare Economics / Allocative Efficiency; Cost-Benefit Analysis
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