Households and firms have been consolidating for a while, and the level of unemployment is stable and not high by historical standards. Moreover, financial conditions are strongly expansionary with a low level of interest rates. The housing market has shown positive signs over the last year with rising cash prices. However, there is wide regional variation.
So far, prices have predominantly risen in the Copenhagen area, while no improvement has yet been seen in the areas outside the cities. Presumably it will come if the market continues to pick up. All the same, there are regions in Denmark where the population is declining as many, especially young, people migrate to the cities.