Danish young people’s housing dreams: Central or nature? As we grow older, we increasingly value nature as a part of our housing dreams. A new survey from Finans Danmark reveals that our housing preferences change significantly throughout life. Young people between 18 and 24 prioritize a central location close to their studies or work, while those a little older, between 30 and 35, seek housing close to nature.
Peter Jayaswal, Director of Mortgage and Property Finance, explains in a press release that young people in cities often want to live close to their studies and social networks. “Living centrally is one of the most important factors for many young people between 18 and 24 when they are looking for their dream home,” he says. But as young people approach the end of their 20s, the desire for a central location becomes less dominant. “Instead, it is nature and the need for more space that attract young people,” Jayaswal adds.
The survey shows that about 20 percent of young people between 18 and 24 years old prioritize nature highly in their housing choices, while this percentage increases to over 30 percent for those aged 30 to 35. At the same time, the analysis shows that the importance of living close to work or studies is important for about one third of those in the 18 to 24 age group, while for those aged 30 to 35, it is a priority for about one quarter.
Furthermore, the desire to own a home increases with age. Among the very young, four out of ten dream of owning their own home, while this number increases to six out of ten for those who are 30 years old. Despite the dream of ownership, it can be difficult to find a home that meets expectations and fits within the budget, especially in Copenhagen.
By the end of 2022, the burden of home ownership in Copenhagen was so high that an average couple would need to spend almost 34.5 percent of their disposable income on housing finance. This is an increase of eight percentage points since 2020.
The analysis from Finans Danmark is based on a survey conducted in the fourth quarter of 2023 and includes responses from just over 1000 young people.